Mobile Value Added Services Market in India - Trends and Forecast upto 2015-2023
"The Mobile Value Added Services Market revenue is estimated to reach $23.8 billion by the end of 2020," said Bhavya H, Research Analyst, Infoholic Research. Currently, the increasing demand for value added services from the enterprises and consumers is expected to see the continued MVAS growth over the next few years. The significant growth of the mobile subscriber base, especially in rural and urban regions is the major factor that is boosting the MVAS growth.Currently, mEntertainment and mCommerce are set to be the leading verticals. The mGovernance and mAgriculture are expected to play emerging role in next five years. These two sectors are set be emerging markets for MVAS growth. In addition, support of the RBI for mobile banking is expected to boost the mBanking vertical growth.
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"Currently, the consumer VAS market is leading in the MVAS market, majorly driven by student community, but the market of enterprise VAS is expected to be the fastest growing market by 2023 as most of the enterprises are choosing the mobile platform, which is a business model for increasing revenue and avenue for cost saving", said Tariq Shaik, Research Operations.
The players of the MVAS are focusing more on the larger enterprise, but small and medium enterprises are not much aware of the value added services. Promotion of the services may help to capture the better VAS market in SME verticals.
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- Enterprise VAS market is expected to reach at a CAGR of 19.3% by 2020.
- Consumer VAS market is expected to reach $5.26 billion by 2015.
- The rural market is predicated to reach at a CAGR of 25.3% during the period 2015-2020.
- Entertainment and Commerce verticals are contributing the major market share for MVAS growth.
- Entertainment vertical is expected to grow at a CAGR of 16.9% during the period 2015-2020.