The Mobile Value Added Services (MVAS) market is expected to jump to US$ 9.5 Billion in the next two years, says a new report from Wipro Technologies & The Internet and Mobile Association of India (IAMAI).
The report titled ‘Future Thought of Business (FTOB): MVAS’ estimates doubling up of the market potential of this promising segment. Currently, the market capitalization is pegged at US$ 4.9 Billion. Spread over 450 consumers as well as providers of MVAS the duo was able to pinpoint certain finer aspects that hold the potential to accelerate the pace & certain hurdles too.
The basic mobile services are simply not sufficient or satisfying: The research, which focused on the mEducation, mEntertainment, mFinance and mHealth application areas showed that there is ‘Pent-up’ market demand from consumers for sophisticated mobile services in India that have the potential to improve the overall quality of living.
Ayan Mukerji, Senior Vice President, Global Head – Media and Telecom, Wipro Technologies was more forthcoming on the topic, “Basic informational mobile services are set to decline in India. We have found that India’s consumers will increasingly purchase enriched and transformational education, health, finance and entertainment services. An expected MVAS revolution in India is being made possible by the dramatic growth in mobile device penetration and mobile network capacity and this market offers abundant opportunities for growth to all industry participants”
Besides the opportunities, there are multiple hurdles that, if addressed, could accelerate the adoption of MVAS. There is significant lack of awareness. However, what hurt the sector most was the complexity involved while availing, using & paying for these services. In other words, Mobile companies do have a lot of products & services that are not useful, but are relevant & practical too. However, present delivery protocols are perhaps a little advanced for the average user.
MVAS has always held a special place in the Mobile ecosystem. Multiple research reports have already established its vitality. This report though puts out a very strong future for the same. Please let us know your views.
Full Report | Future Thought of Business (FTOB): MVAS