Mobile Virtual Network Operator Market Expected To Growing Trend of M2M connectivity and IoT by 2024
Date: 2018-08-22   Author: Ronak Bora  Category: #technology

Mobile Virtual Network Operator Market Expected To Growing Trend of M2M connectivity and IoT by 2024

Full MVNO business model is expected to grow at high rates over the forecast timespan in the MVNO market. This model enables companies to achieve new revenue streams by catering to the untapped market segments. Growth opportunities for the full network operators are high owing to the low-cost entry in the MVNO market. These companies are witnessing high demands owing to an increased focus on consumer services and high profitability. They focus on providing low cost and high-quality network services to business and private subscribers owing to the enhanced customer-specific packages.

Mobile Virtual Network Operator (MVNO) Market set to reach USD 120 billion by 2024. Rapidly increasing number of smartphone and internet users across the globe is driving the MVNO market growth. The rise in the number of telecom subscribers accounts for a wide customer base using the operator services that further increase the profit margins. Growing demand for low-cost internet and voice services to meet the high-end consumer needs is creating several growth opportunities in the MVNO market.

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The adoption of 5G services across the globe to meet the consumer expectations including network coverage, extended battery life, network throughput, and security is propelling the MVNO market. The integration of 5G services in network services enables the usage of technically-advanced smart applications such as wireless AR/VR headsets, remote controlled and electric vehicles, and smart wearables. Major electronic players are continuously developing data-based intelligent products that aid in improving the customer usage and lifestyle.

Europe has dominated the MVNO market in the recent years and is expected to maintain the position owing to the rapid increase in smartphones users in the region. The growth in Germany is attributed to favorable government initiatives and regulations for improving the mobile and network bandwidth. India is expected to cover large industry revenue shares in the MVNO market due to digitization and broadband infrastructure enhancement initiatives adopted by the government. Increasing penetration of global multinational companies in the Asian IT industry is further aiding the development of MVNO market at high rates.

Players operating in the MVNO market include Freenet AG, LycaMobile, Exetel, Dataxoom, Japan Communications, Inc., Consumer Cellular, TalkTalk, Drillisch Telekom, Giffgaff, and Kajit. The industry players are majorly focusing on providing cheaper call rates and high-speed internet services owing to the high market competition. Companies are adopting collaborations and partnerships in several regions to dominate the MVNO market. Lower pricing strategies are adopted by the key mobile network operators to provide improved services at low-costs. For instance, in May 2018, Charter Communications announced its partnership with Verizon to launch new MVNO mobile services. The strategy was adopted to attract new customer bases along with offering cable bundle packages.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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