Indian Mobile VAS Market to Be Worth $9.5 Billion by 2015
The Indian MVAS market is predicted to grow at a CAGR of 25% between 2012 and 2015 to reach US $9.5 billion in 2015, from an estimated US $4.9 billion in 2012. The estimate comes from a report jointly commissioned by Wipro Technologies and The Internet and Mobile Association of India (IAMAI).
The research focused on the mEducation, mEntertainment, mFinance and mHealthapplication areas and found 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.
"Basic informational mobile services are set to decline in India," said Ayan Mukerji, Senior Vice President, Global Head - Media and Telecom, Wipro Technologies. "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."
To realize the market's full potential, the industry requires a collaborative effort across mobile network operators, telecom equipment vendors and mobile service content providers. "So far, this market has been hampered by a lack of services innovation," said Dr. Subho Ray, President, IAMAI. "The Indian MVAS market offers tremendous potential to all industry participants and those companies that can offer innovative services will stand to benefit the most" Dr. Ray added.
The research findings reveal that mEntertainment is the largest contributor to operator MVAS revenues and provides key opportunities in localized vernacular content, on-demand music and video content and live TV shows and events.
On the other hand, mEducation can play a key role in expanding the reach and quality of education in India, through Interactive English Language Learning Services, Competitive Examination Preparation Solutions, Tutor-on-call and Vocational training.
mHealth has the potential to improve healthcare access and affordability in India especially through Remote Diagnostics, Chronic Disease Management and Maternal Care. Mobile phones will also play a key role in extending financial services to the 40% of India's population who are unbanked.
mFinance through Mobile Wallet Services, Mobile Remittance Services and Business Correspondence Model Based Services will contribute to MVAS revenues.
The complete research report can be downloaded here