The global mobile virtual network operator market size is expected to reach USD 137.31 billion by 2030, registering a CAGR of 7.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing demand for data services and an increasing number of mobile users across the globe are expected to drive market growth. In addition, the growing number of services such as Machine to Machine (M2M), cloud, and mobile money is further anticipated to drive demand for mobile virtual network operator (MVNO) over the forecast period.
Mobile Virtual Network Operator Market Report Highlights
· The discount segment is expected to register the highest market share in terms of revenue, growing at a CAGR of 7.4% from 2023 to 2030. High competition among MVNO service providers to provide better and low-cost services coupled with the growing consumer preference for services offered at a discount is expected to drive the demand for the discount segment over the forecast period
· The 5G MVNO segment is expected to grow at the highest CAGR of over 10% over the forecast period, owing to increased data speed, flexible pricing, and network capacity, enabling improved user experience
· The prepaid MVNO segment is expected to grow at the highest CAGR of around 7% over the forecast period; the high user base of prepaid customers in rising economies such as India is expected to be the backbone for the growth of the prepaid MVNO segment
· The consumer segment is projected to dominate the market in 2022 and is expected to maintain its dominance over the next seven years. This growth can be attributed to MVNOs providing customer-centric offerings such as affordable data, voice plans, and the latest technology
· Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growing demand for an efficient cellular network coupled with the increasing speed of mobile broadband is expected to propel the growth of MVNOs in the Asia Pacific region
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The growing demand to access mobile applications, social media, and multimedia services is further expected to propel the growth of MVNOs in the market over the forecast period. The declining prices of smartphones are contributing to the accelerating subscriber penetration across the globe and are expected to fuel the growth of the MVNO. Furthermore, increasing partnerships formed by key players for providing high-speed data services to consumers is anticipated to drive market growth over the forecast period.
Favorable government guidelines for MVNOs allow them to access the Single Wholesale Network (SWN) and the mobile operator networks and eliminate national roaming charges. This is expected to drive the market's growth over the forecast period. The surging government initiatives, such as the Digital Single Market (DSM) strategy, to remove copyright issues and geo-blocking concerns and offer better network service access for European consumers, are expected to drive the market's growth over the forecast period.
Many players in the market have led to increased competition among service providers. This has led companies to offer mobile services at cheaper rates, which is expected to strengthen market growth. The MVNO model is considered cost-effective and time-efficient to enter the telecom market to benefit the customers. This is expected to provide opportunities for a new entrant in the market over the next eight years.
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We segmented the global mobile virtual network operator market based on type, operational model, service type, contract type, end-use, and region.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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