Technology - - May 11,2017
According to a recent informative report on Market Research Hub (MRH), the mobile value-added services (VAS) market will surge steadily in the upcoming years and post a CAGR of about 18% by 2021.
The report further identifies the rising adoption of smartphones as one of the primary growth drivers for this industry. The demand for these devices is increasing among people, due to the rise in their usage for multiple purposes, such as accessing apps, checking e-mails, reading the news, surfing the web, and updating on social media. Larger Internet penetration and the low-priced data rates are fueling the acceptance of faster telecommunication services. This increase in the adoption of smartphones will consecutively increase the demand for mobile VAS services.
Another latest trend that will gain traction in the market in the near future is the usage of location-enabled mobile VAS. Using a location-enabled mobile VAS, people can obtain real-time directions to their destination, weather forecasts and traffic updates on their mobile devices. Smartphone users are also being targeted by mobile advertisers for marketing their products and services as the location-based advertising is cost-effective.
Mobile internet services and Mobile messaging services are the two major platforms of the mobile VAS market. Between them, the mobile internet services segment accounts for the majority of market shares, due to factors like the growing coverage of mobile Internet services, rising adoption of high-speed mobile broadband services and the popularity of wireless modems.
In terms of geographic regions, Asia Pacific is the major revenue contributor to this industry. This region has the largest customer base and is expected to have an increasing demand for voice over IP (VoIP) services. Japan is the potential market for the VoIP services. Even though, the service providers are already offering high-speed 3G and 4G solutions, the demand for low latency wireless mobile technology is expected to surge over the coming years.
For more information on this report visit - http://www.marketresearchhub.com/report/global-mobile-value-added-services-vas-market-2017-2021-report.html