Sellbyville, Delaware, June 12, 2018 (GLOBE NEWSWIRE) --
MVNO Market is anticipated to surpass USD 120 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing number of customers opting for cost-effective services is driving the MVNO market. Companies that offer voice & SMS services, limited data, and inexpensive devices are increasing. These companies are targeting and successfully attracting the price-conscious customers using traditional marketing channels such as physical stores and limited budgets. This allows the companies to generate profits, encouraging the new players to enter the industry.
Growing need among the players for service differentiation is expected to play a vital role in the MVNO market growth. These companies integrate the products and services provided by the Mobile Network Operators (MNOs) with loyalty programs and financial services. The players are constantly adding innovative products and service bundles to their offerings as the subscribers are demanding service bundles that satisfy most of their mobility requirements. The growing number of lucrative offerings resulting from the increasing competition will drive the industry growth in the next seven years.
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Growing trend of M2M connectivity and IoT is expected to drive the MVNO market with a number of IoT devices in use projected to reach about 20.5 billion by 2020. These devices require connectivity to leverage their full potential, creating opportunities for the players in the industry. High degree of agility and high innovation capabilities of these players make them an attractive option in the IoT connectivity space. Due to this, the players have a tremendous growth potential, particularly in the connected cars and smart cities applications. Companies such as PodM2M, a player in the industry catering to the mission-critical connectivity solutions, are collaborating with industries and institutes to provide customized services. PodM2M provides IoT connectivity to the Trans-African Hydro-Meteorological Observatory (TAHMO) to connect 20,000 weather monitoring stations across the African sub-continent.
Growing prioritization of the host carrier to provide high-quality services to their regular customers will challenge the MVNO market growth. The MNOs prioritize the service of regular customers as these customers pay for the privilege. Also, in cases of network saturation, such as in cases of natural disasters or broadcast of multiple video streams, the host provider ensures services to its primary customers. Increasing prioritization of MNOs discourage the consumers to switch to the virtual networks, thus hampering the MVNO market growth.
The light MVNO market is anticipated to witness growth at over 12.5% due to the increasing adoption and consumer focus on low-cost services. The business model requires low investment, allowing a large number of players with low budgets to enter the industry. Also, the players with this business model can focus on niche customer segments that are difficult for an MNO to address. Increasing demand for customized offerings will provide growth opportunities to the light MVNO market.
Browse key industry insights spread across 300 pages with 216 market data tables & 66 figures & charts from this 2018 report Mobile Virtual Network Operator (MVNO) Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mobile-virtual-network-operator-mvno-market-report
Asia Pacific MVNO market value at nearly USD 8 billion in 2017 is expected to witness a remarkable growth due to the development of telecom infrastructure, increasing data traffic, growing smartphone penetration, and increasing adoption of 3G & 4G services. Healthy investment climate and favorable regulatory framework will propel the industry growth in the region. In January 2018, the Ministry of Industry and Information Technology (MIIT) of China introduced a proposal to issue commercial licenses to the players in the industry including foreign-invested firms.
Some of the key players in the MVNO market include Dataxoom, BT Mobile, FreedomPop, Exetel, GiffGaff, Freenet AG, Red Pocket Mobile, Tracfone Wireless, and VoiceWorks GmbH. These players in the industry are shifting their focus to the B2B customers from the B2C ones as the enterprises and businesses increasingly seek real-time connectivity via an array of devices. The companies are pursuing new business opportunities across regions without having to build a new physical infrastructure.
The MVNO market is characterized by intense competition among the players due to the highly fragmented nature of the industry. Frequent partnerships and collaborations among the companies are witnessed across regions to develop innovative solutions. In Australia, Network Communications and Optus have collaborated to form Charity Mobile, an MVNO that creates a social impact by donating five percent of their bill to charitable organizations. In the UK, Vodafone and O2 have established Green Mobile that allows customers to donate five percent of their bill amount to green charities such as World Land Trust.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.