Mobile Value Added Services Market
Mobile phones are no more just for making phone calls; they have evolved into multipurpose gadgets that allow users to access apps, read the news, surf the web, check e-mails, and connect on social media. As the world moves toward quicker telecommunications and a higher rate of internet access, the market for mobile value added services will grow. The introduction of location-enabled mobile value added services is one of the most recent trends in the field of mobile value added services.
Because of the widespread use and penetration of smartphones, the worldwide mobile value added service market is expanding rapidly. The need for value-added services is increasing among mobile phone users, who have a high desire for connectivity and portability.
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.
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.
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