(MENAFN- GlobeNewsWire - Nasdaq) MVNO market is growing due to the increasing technological developments and penetration of mobile devices drives the market growth
New York, USA, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Mobile Virtual Network Operator Market Overview:
The global mobile virtual network operator market (MVNO) was valued at USD 85.24 billion in 2023. The market is anticipated to hit USD 173.10 billion by 2032, with a robust CAGR of 8.2% during the forecast period from 2024-2032.
Market Introduction:
What is Mobile Virtual Network Operator?
A mobile virtual network operator (MVNO) is a unique communications service provider that does not own its wireless infrastructure but relies on a third-party mobile network operator (MNO) to deliver services to consumers. By leasing MNO infrastructure, such as base stations, transceivers, home location registers, and switching centers, at discounted or wholesale prices, MVNOs resell these services to consumers at retail prices. This distinct business model allows MVNOs to operate in the market without the need to build their own network, a key insight for industry professionals and investors. Meanwhile, customers may not be aware that they are using services from a different company and not directly from the MNOs.
Boost Mobile, Virgin Mobile, TracFone, and Google Fi are some of the MVNO companies that offer communications services using MNOs' infrastructure without the need to build their own network. MVNOs can be categorized into four types, each with a unique business model: Full MVNOs, Light MVNOs, Service Provider MVNOs, Branded Reseller MVNOs, and Efficiency MVNOs. Each type serves a distinct purpose in terms of service and infrastructure, with MVNOs choosing a model based on their market strategy and budget.
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Key Market Stats:
The global mobile virtual network operator (MVNO) market size was valued at USD 85.24 billion in 2023. The market is likely to rise from USD 92.11 billion in 2024 to USD 173.10 billion by 2032. It is expected that the market will exhibit a compound annual growth rate (CAGR) of 8.2% from 2023 to 2032.
Major Findings from Report:
The market is experiencing significant growth due to factors including growing demand for wireless services in new markets, increasing technological developments, rising product launches by leading companies, and increasing penetration of mobile devices. The market is primarily segmented on the basis of operational model, service type, subscriber, and region. Based on region, the market in Asia Pacific recorded the largest revenue share growth rate in 2023.
Mobile Virtual Network Operator Market Drivers and Trends:
Demand for Wireless Services: Wireless services ease communication and connections among devices and apps. Consumers are increasingly opting for wireless solutions due to their convenience, flexibility, and ability to support a wide range of applications. As a result, the demand for mobile virtual network operators is growing.
Advancement in 5G Technology : Many companies in the MVNO market are rolling out 5G to cater the increasing consumer demand for faster data rates, lower latency, and greater network capacity. The existing ones are integrating advancements such as network slicing, fixed wireless access, and eSIMs. Thus, rising advancement in 5G technology is anticipated to accelerate the mobile virtual network operator market growth.
Integration of Artificial Intelligence: Various companies in the mobile virtual network operator market are planning and integrating AI and ML into MVNO technologies to enhance efficiency, streamline operations, and improve customer experience, thereby driving market growth.
Smartphone Evolution: The ongoing evolution of smartphones, marked by enhanced features, greater processing power, and improved connectivity options, meets the need for efficient and reliable wireless services. This encourages MVNOs to develop advancements and innovative services, which is propelling market growth.
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Industry's Prominent Players:
Consumer Cellular DISH Wireless LLC Drillisch Telecom Google Fi Grover KDDI Mobile KORE Wireless Locus Telecommunications LLC Mint Mobile LLC Quebecor Red Pocket Mobile T-Mobile International AG TracFone Wireless Inc TruConnect Verizon Wireless Inc Virgin Mobile
Geographical Landscape:
Europe: In 2023, Europe held the largest mobile virtual network operator market share due to the existence of a well-developed telecommunications infrastructure supporting the growth of MVNOs. Also, favorable regulatory guidelines fuel the market growth in the region. Moreover, the widespread adoption of mobile devices and established consumer preferences in Europe boost the demand for innovative MVNO services.
Asia Pacific: During the forecast period, Asia Pacific is anticipated to record significant growth owing to the expanding telecom services industry in the region. Countries such as India, Vietnam, Myanmar, and China are actively working to upgrade their telecommunications services, contributing to overall market growth. Meanwhile, Southeast Asian nations like Singapore, Thailand, and the Philippines are anticipated to make significant contributions to regional market expansion over the forecast period.
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Segmental Overview:
MVNO Market – Operational Model Based Outlook:
Full MVNO Reseller Service Provider
MVNO Market – Service Type Based Outlook:
MVNO Market – Subscriber Based Outlook:
Business/Enterprise Individual/Residential
MVNO Market – Regional Outlook:
North America (U.S., Canada) Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia) Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea) Latin America (Brazil, Mexico, Argentina) Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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