The MVNO market size is projected to grow from USD 64.0 billion in 2019 to USD 89.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period. The major factors driving the growth of the MVNO market include provision of demographic-related customer services and profit maximization opportunity for both MNOs AND MVNOs.
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Top Key Players
Major vendors of include Virgin Media Business (UK), DataXoom(US), Lebara(UK), KDDI(Japan), Asahi Net(Japan), Virgin Mobile USA(US), TracFone Wireless(US), Boost Mobile(Australia), Lycamobile(UK), Tesco Mobile(UK), PosteMobile(Italy), Airvoice Wireless(US), Asda Mobile(UK), Giffgaff(UK), Kajeet(US), Voiceworks(Netherlands), Ting(US), Red Pocket Mobile(US) and Consumer Cellular(US).
Service operator segment to grow at the highest CAGR during the forecast period
Based on the operational model component, the service operator segment of the MVNO market is projected to grow at the highest CAGR from 2019 to 2024. The service operator is one of the most popular models for new entrants. It enables MVNOs to start with a select set of operating elements and build their own operations over a period of time. Within the service operator model, MVNOs have more control over customer-facing features, which enable the model to integrate with its services and systems in a better way.
Consumers segment to lead the market in 2019
The Consumers segment is projected to lead the market from 2019 to 2024. The increasing mobile network subscribers and growing penetration of mobile devices are driving the growth of the MVNO market. There has been a significant increase in the number of cellular subscribers globally. This is because of the increasing number of consumers opting for devices that offer connectivity.
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North America to lead the MVNO market during the forecast period
Based on the region, North America is expected to lead the MVNO market during the forecast period. There are more than 390 MVNOs in North America who have approximately 36 million subscriptions. MVNO services are expected to see huge growth in North America due to the convergence of IT and telecom sectors. This convergence is expected to open huge opportunities for enterprise customers in North America for MVNO services. MVNOs offer attractive opportunities to the mature telecom industry as they come up with reduced OpEx (Operating Expense), attractive prices, customized service plans, and others for new businesses and consumers. The countries included in the market analysis for North America are the US and Canada. The companies are heavily outsourcing data centers, IoT services, and networking services from MVNOs. The enterprises in the US indicate that they have outsourced their IT and network functions from the service providers
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