The global mobile value added service market is growing at a brisk pace due to the rapid usage and increasing penetration of smartphones. The demand for value added services is growing in the users of mobile phones who have a great need for connectivity and portability. Mobile phones are not only used for making calls and they have turned into multipurpose devices that can enable the users to access apps, read the news, web surfing, checking e-mails and social media interaction. As the world is moving towards faster telecommunication services and high rate of internet penetration, the market for mobile value added services is bound to increase. One of the latest trends in the arena of mobile value added services is the emergence of location-enabled mobile value added services. With the help of location based services, consumers can get real-time directions to locations they want to explore, they can also avail weather forecasts and updates on traffic right from their mobile devices. Such type of location based services are also used by advertisers to generate notifications when the consumer is in the vicinity of their shop and they can instantly give an offer on shopping to such location specific customers. This is just one of the facets of mobile value added services and such kind of services have vast areas of application.
According to the assessment of Persistence Market Research, the global mobile value added service market is forecasted to reach a figure of about US$ 698,900 Mn in 2022 and is poised to exhibit a robust CAGR in the period of assessment.
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North America Market Set to Dominate the Global Mobile Value Added Service Market in Terms of Revenue
The market in North America is set to dominate the global mobile value added service market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America mobile value added service market is the most attractive market, growing at a robust CAGR over the forecast period.
Short Message Service Segment Slated to Touch a Value of About US$ 159,300 Mn in 2022
According to the projections of Persistence Market Research, the short message service segment is expected to reach a value of about US$ 159,300 Mn in the year 2022. This signifies a robust CAGR during the forecast period of 2017-2022. The short message service segment is estimated to account for more than one-fourth of the revenue share of the platform segment by the end of the year 2017 and is expected to lose in market share by 2022 over 2017.
Consumer End User Segment to Exhibit a CAGR of Nearly 9% During the Assessment Period
According to the assessment of Persistence Market Research, the consumer end user segment is poised to touch a figure of about US$ 269,500 Mn in the year 2022. This signifies a CAGR of nearly 9% during the assessment period from 2017 till the year 2022. The consumer end user segment is estimated to account for nearly half of the revenue share of the end user segment by the end of the year 2017 and is projected to lose market share by 2022 over 2017.
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The report also profiles companies that are expected to remain active in the expansion of global mobile value added service market through 2022, which include AT&T Inc., Apple Inc., Alphabet, Inc., Blackberry Limited, Samsung Electronics Co Ltd., Sprint Corporation, Vodafone Group Plc, Tech Mahindra Limited, ZTE Corporation and OnMobile Global Limited.