Bangalore: Wipro Technologies and The Internet & Mobile Association of India (IAMAI) in a joint research report titled ‘Future Thought of Business (FTOB): MVAS’ has predicted that the Indian Mobile Value Added Services (MVAS) market will 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.
Wipro and IAMAI conducted an in-depth evaluation of over 450 consumers and providers of MVAS in India to identify the major drivers and barriers of the Indian MVAS market and provide insights that will help to grow this market. The research focused on the mEducation, mEntertainment, mFinance and mHealth application 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, Sr. VP, Global Head – Media & 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.”
“So far, this market has been hampered by a lack of services innovation,” said Dr. Subho Ray, President, IAMAI. “By forging mutually agreeable partnerships, we can improve customization and localization of content and create services with a compelling consumer value proposition. 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.
Kerala IT News