MVNO market worth $137.31 billion by 2030
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.
Key Industry Insights & Findings from the report:
- 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 deliver better and low-cost services coupled with the growing consumer preference for the services offered at a discount is expected to drive demand for the discount segment during the forecast period.
- The service operator segment is expected to expand at the highest CAGR of 8.0% throughout the forecast period as it provides various service platforms such as voicemail and missed call notifications.
- The consumer segment was anticipated to dominate the market in 2022 and is expected to maintain its dominance during 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 during 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.
Mobile Virtual Network Operator Market Growth & Trends
The growing demand to access mobile applications, social media, and multimedia services is further expected to propel the growth of mobile virtual network operators in the market during the forecast period. The declining prices of smartphones are contributing to the accelerating subscriber penetration across the globe. This is expected to fuel the growth of the MVNO. Furthermore, increasing partnerships formed by the key players for providing high-speed data services to consumers are anticipated to drive market growth during 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 growth of the market during the forecast period. The surging government initiatives, such as the Digital Single Market (DSM) strategy, to remove copyright issues and geo-blocking concerns in addition to offer better network service access for consumers in Europe, are the factors expected to drive the market’s growth during the forecast period.
The presence of a large number of players in the market has led to increased competition among service providers. This has led companies to offer mobile services at cheaper rates, which is expected to strengthen the 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 potential opportunities for a new entrant in the market over the next eight years. Grand View Research
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