MVNO Market Worth $89.0 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 8, 2019 /PRNewswire/ -- According to a new market research report "MVNO Market by Operational Model (Reseller, Service Operator, Full MVNO), Subscriber (Consumer, Enterprise), Organization Size (SMES, Large Enterprise), Business Model (Discount, Ethnic, Business), and Region - Global Forecast to 2024", published by MarketsandMarkets™, 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 MVNOs providing customer-centric services considering their demography and profit maximization for both MNOs and MVNOs.
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By Operational Model, the Full MVNO segment to lead the MVNO Market during the forecast period
The full MVNO operational model is the most advanced MVNO operational model and involves MVNOs owning core network elements, giving it complete freedom and independence to be like an MNO. The only aspect it will utilize from MNOs is its radio spectrum. In this model, the MVNOs will set up their Home Location Register (HLR) and other core network elements. It also needs to negotiate its own interconnect agreements with all other operators globally. The full MVNO model gives full call control and complete service development flexibility and has the added benefit of enabling MVNOs to collect all inbound Mobile Terminating Revenue (MTR), which is retained by the MNOs when they support the MVNO models described above and shared on a negotiated basis. This benefit is diminishing over time as MTR rates are falling globally.
By Organization Size, the large enterprise segment to lead the MVNO Market during the forecast period
Large enterprises have various departments for performing different business functions. These business functions need to coordinate with each other, both within as well as outside organizations, for operational efficiency. They prefer MVNOs who provide a definitive Return on Investment (ROI). The spending capacity of large enterprises increases the adoption of innovative MVNOs in this enterprise, and the trend is expected to continue during the forecast period. Large companies are incorporating MVNO into their enterprise operations exclusively in secure cloud environments, which naturally make the service more scalable and faster to deploy, and less CAPEX-intensive to manage. This is also making the MVNO model more viable for medium and large enterprises.
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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
Some of the leading companies operating in MVNO Market are 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).
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