Pune, India, Feb. 24, 2021 (GLOBE NEWSWIRE) -- The global mobile virtual network operators market is anticipated to report a CAGR of 7.8% between 2021 and 2028 with a rapid increase in the number of mobile phone users. Key insights into this fast-growing market have been shared by Fortune Business Insights in its report, titled "Mobile Virtual Network Operators Market Size", Share and Global Trend by Operational Model (Reseller MVNO, Service Provider MVNO, Full MVNO), Service Type (Postpaid, Prepaid), Subscriber (Business, Individual/Residential) and Geography Forecast till 2028”.
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Expanding Customer Base and Increasing Digitization to Fuel the Market
With steadily advancing wireless network technology, mobile virtual network operators are able to provide services at even lower prices which have expanded their customer base significantly. Rising costs of network services of large companies like AT & T are pushing consumers to switch to mobile virtual network operators. For example, the Verge recently reported that AT & T more than doubled its fee mid-2021. This has increased the global mobile virtual network operators' market size and it is expected to grow in the forecast period. Moreover, many mobile virtual network operators are designing plans and schemes for international students, tourists, and other diasporas. For example, the UK-based Lycamobile specifically offers low-cost international calling, messaging, and data plans across Europe and parts of Africa, the USA, and Australia.
The market was valued at US$ 62.5 Bn in 2021 and is likely to reach US$ 113.9 by 2028. Mobile virtual network operators are small cell phone carriers (for example, Boost Mobile, Metro) that use the network of a larger carrier such as Verizon or AT & T. The difference between the two is that the small carriers use the cell towers built by the big carriers to provide service. The big carriers build, operate, and maintain their own cell towers; the small carriers use these towers and since they do not have to build or maintain any infrastructure, they can offer services at cheaper rates.
The increasing digitization of services such as banking and the growing popularity of e-commerce is expected to further fuel the global mobile virtual network operators market till 2028. The rising adoption of technology in both developed and developing countries for efficient service delivery augurs well for the global mobile virtual network operators market. For example, e-banking and mobile banking are becoming popular as they allow consumers to operate their bank accounts from their homes. These factors combined are expected to propel the market revenue to USD 113.9 billion by the end of 2028.
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Slow Data Speed Makes Growth a Bumpy Ride for Overall Market
While mobile virtual network operators offer a lot of advantages to customers, there are certain cons that can impede the smooth growth of the market. These can include slow data speeds, bad coverage outside of core areas, fewer phone purchase options, among others. For example, Lycamobile is notorious for frequent call drops and loss of network in many areas in the UK and Ireland. These issues can make a potential customer to think twice before paying for the service. This is especially true in the case of international students who need to make frequent calls to their home countries. Such factors can limit the growth of the global mobile virtual network operators market.
Asia Pacific to Hold a Commanding Market Position
Regionally, Asia-Pacific is expected to exhibit the highest CAGR in the global mobile virtual network operators market during the forecast period. The region has already generated a market revenue of USD 18.2 billion in 2021 and will keep rising till 2028. The market in Asia-Pacific is to be led mainly by India and China where digitization of services is rapidly rising. Furthermore, government policies and programs are being formulated on the basis of technology. For example, the promotion of cashless transactions in India has led to a surge in virtual payment systems such as Google Pay and Paytm. These developments bode well for the market as its size will increase with increasing mobile phone and internet penetration in the region.
INDUSTRY DEVELOPMENT:
- April 2021: Ooredoo Oman and FRiENDi mobile, part of the Virgin Mobile Middle East & Africa group have announced their partnership in a long-term agreement the FRiENDi mobile user will receive state-of-the-art 4G Supernet network of Ooredoo Oman from the first half of May 2021.
- November 2021: Google's multiplying on its versatile services with an end goal to develop endorsers: It's rebranded Project Fi to Google Fi and extended the services to help various devices. Google Fi is Google's Mobile Virtual Network Operators (MVNO) administration that offers plans that utilizes the best accessible Wi-Fi network.
Key Players to Drive the Market
- Affinity Cellular
- FRiENDi Mobile
- Globecomm Systems Inc.
- AMERICA MOVIL SAB DE CV (Tracfone Wireless Inc.)
- Lycamobile
- Project FI (Google LLC)
- T-Mobile US, Inc.
- Tello
- Verizon Wireless
- Virgin Mobile.
- Comcast Corporation
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Table of Content
- 1.Introduction
- Research Scope
- Market Segmentation
- Research Methodology and Assumptions
- 2.Executive Summary
- 3.Market Dynamics
- 3.1. Drivers, Restraints and Opportunities
- 3.2. Emerging Trends ofMarket
- 4.Key Insights
- 4.1. Macro and Micro EconomicFactors
- 4.2. Key Technological Developments
- 4.3. Value Chain Analysis
- 4.4. SWOT Analysis
- 5.Global Mobile Virtual Network Operators Market Analysis, Insights and Forecast, 2014-2025
- 5.1. Key Findings / Summary
- 5.2. Market Sizing Estimations and Forecasts – By Operational Model (US$ Bn)
- 5.2.1.Reseller MVNO
- 5.2.2.Service Provider MVNO
- 5.2.3.Full MVNO
- 5.3. Market Sizing Estimations and Forecasts – By Service Type (US$ Bn)
- 5.3.1.Postpaid
- 5.3.2.Prepaid
- 5.4. Market Sizing Estimations and Forecasts – By Subscriber (US$ Bn)
- 5.4.1.Business
- 5.4.2.Individual/Residential
- 5.5. Market Analysis,Insights and Forecast – By Geography (US$ Bn)
- 5.5.1.North America
- 5.5.2.Europe
- 5.5.3.Asia Pacific
- 5.5.4.Middle East and Africa
- 5.5.5.Latin America
- 6.North America MVNO Market Analysis, Insights and Forecast, 2014-2025
- 6.1. Key Findings / Summary
- 6.2. Market Sizing Estimations and Forecasts – By Operational Model (US$ Bn)
- 6.2.1.Reseller MVNO
- 6.2.2.Service Provider MVNO
- 6.2.3.Full MVNO
- 6.3. Market Sizing Estimations and Forecasts – By Service Type (US$ Bn)
- 6.3.1.Postpaid
- 6.3.2.Prepaid
- 6.4. Market Sizing Estimations and Forecasts – By Subscriber (US$ Bn)
- 6.4.1.Business
- 6.4.2.Individual/Residential
- 6.5. Market Analysis,Insights and Forecast – By Country (US$ Bn)
- 6.5.1.United States
- 6.5.2.Canada
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