Global Mobile Value-Added Services (VAS) Market Analysis Highlights the Impact of COVID-19 2020-2024 | Rapid Increase in Smartphone Penetration to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Aug 25, 2020--
The mobile value-added services (VAS) market size is expected to grow by USD 342.50 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200825005554/en/
Technavio has announced its latest market research report titled Global Mobile Value-added Services (VAS) Market 2020-2024 (Graphic: Business Wire)
Request challenges and opportunities influenced by COVID-19 pandemic -Request a Free Sample Report on COVID-19 Impacts
There has been a rapid increase in the number of smartphone users worldwide. The number of smartphone users with active connections constituted around 60% of the global active mobile connections in 2019. Consumers are increasingly using mobile devices for various purposes, ranging from gaming and web-browsing to e-commerce and social media interaction. The adoption of smartphone devices and tablets has been largely driven by users' needs to access content on-the-go. With improvements in the Internet speeds and technological infrastructure, especially in emerging economies such as India and China, the smartphone penetration would continue to increase during the forecast period. This, in turn, is expected to drive the global mobile VAS market during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample:https://www.technavio.com/talk-to-us?report=IRTNTR44646
As per Technavio, the digitization of key industries will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Mobile Value-added Services (VAS) Market: Digitization of Key Industries
With the rapid advent of urbanization, mobile Internet and technology are playing a profound role in customers’ day to day activities. The digitization of key industries such as transport and banking signifies the prominence of mobile-based services. For instance, the global popularity of cab booking applications, such as Uber and Ola, where customers can avail of transport through mobile location-based service (LBS) applications, has revolutionized the transport sector. The banking sector has also seen a rise in mobile-based services, with customers availing banking services on-the-go. While the developed economies have seen a gradual adoption of cashless payment systems, the emerging economies are witnessing rapid growth in mobile banking and digital payment systems. Hence, the growth of digitization in key industries is expected to drive the global mobile VAS market during the forecast period.
“Other factors such as the rapid penetration of mobile broadband, and the convenience of mobile payments will have a significant impact on the growth of the mobile VAS market value during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Mobile Value-added Services (VAS) Market: Segmentation Analysis
This market research report segments the mobile value-added services (VAS) market by product (Mobile advertising, Mobile games, Mobile music and video streaming, Mobile money and m-commerce, and Mobile publications) and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the mobile value-added services (VAS) market share in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the rapid penetration of smartphones and mobile broadband in emerging economies such as China and India and the digitization of key industries.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200825005554/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS PROFESSIONAL SERVICES FINANCE
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 08/25/2020 07:15 PM/DISC: 08/25/2020 07:15 PM