According to a recent report by Wipro Technologies, the Indian 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.
The research, conducted by Wipro and IAMAI, evaluated 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 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.
Commenting on the insights, Ayan Mukerji, Senior VP, Global Head – Media and Telecom, Wipro Technologies said,“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.”
The research findings revealed that:
- Domestic mobile operators could focus on providing better network and connectivity
- Global operators could increase their base by testing new VAS offerings in the Indian market
- Content and VAS technology could focus on the consumer experience and developing personalized content
- Original equipment manufacturers could innovate with lost cost smartphones and mobile devices to drive penetration
As per the report, 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.
The report found that 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.