PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1532369
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1532369
Global mobile virtual network operators' market is estimated to be valued at US$ 85.14 Bn in 2024 and is expected to reach US$ 146.31 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 85.14 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 8.00% | 2031 Value Projection: | US$ 146.31 Bn |
Mobile virtual network operators (MVNOs) are wireless service providers that does not have their own licensed radio spectrum or wireless infrastructure. These lease radio access networks from traditional mobile network operators to offer mobile services to consumers. MVNOs typically target specific segments of the market that are not addressed adequately by existing MNOs. This allows them to provide customized offerings to meet the needs of niche customer groups. Increasing demand for affordable data packages along with rising penetration of smartphones across the globe can drive the market growth worldwide. Moreover, technological advancements in the telecom sector have made network infrastructure more accessible, thus, enabling various new players to enter the mobile service market through virtual operators.
Global mobile virtual network operators market growth is driven by factors such as affordable service offerings by MVNOs, growing adoption of smartphones & mobile data services, and flexibility offered by virtual operators. MVNOs lease cost-effective infrastructure from MNOs, which helps them provide highly competitive rates to customers. This has boosted their popularity among cost-conscious subscribers. Proliferating use of mobile applications along with rising internet usage on smartphones has boosted demand for mobile data plans. These customize plans catering to specific needs of groups such as ethnic communities, international travellers, students, and others. Furthermore, virtual operators experience lower operating costs than MNOs as these does not have to make investments in infrastructure setup. However, heavy dependence on host MNOs for wireless access can restrict their flexibility and pose challenges regarding network quality maintenance. Stringent regulatory procedures for spectrum allocation can also hamper the market growth. Rising demand for IoT can offer market growth opportunities in the near future.