The number of mobile internet users will mostly double between December 2012 and March 2014 from 87.1 million to nearly 165 million. Owing to the marked increase in mobile penetration, India's Mobile Value Added Solution (MVAS) market is also expected to double to almost $9.5 billion by 2015. MVAS market will grow at a compound annual growth rate of 25 percent between 2012 and 2015 to reach the estimated number in 2015 from $4.9 million in 2012, states the 'Future Thought of Business (FTOB): MVAS' a report by Wipro and IAMAI.
"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" said Ayan Mukerji, Senior VP and Global head of Mobile and Telecom, Wipro Technologies.

To kick start the growth curve, domestic mobile operators need to focus on providing better network and connectivity and global operators can increase their base by testing VAS offerings in the Indian market all the while increasing the Indian mobile market value.
According to the report, to realize the mobile market's full potential, the industry needs to tap the potential of the low cost Smartphone and requires a collaborative effort across mobile network operators, telecom equipment vendors and mobile service content providers.
Mobile phones will also play a key role in extending financial services to 40 percent of India's population who are unbanked. To realize the high potential for growth in this sector, there much to be done to cover the gap as less than 30 percent of India’s population uses mobile phones and barely four percent of the Indian population owns a Smartphone.