NEW YORK, June 15, 2021 /PRNewswire/ -- The rising demand for triple-play services, innovative distribution strategies, and segment targeted pricing of mobile virtual network operators (MVNOs), and increasing requirement for low-cost mobile plans are the key factors behind the growth of the MVNO market. Resultingly, the revenue generated by MVNO market will witness a 7.1% CAGR between 2021 and 2031, to reach $139,663.0 million in 2031.
Though MVNOs retained the majority of their customers during the COVID-19 pandemic, with connectivity being essential for businesses, as well as individuals, the closure of stores led to a decline in the addition of new customers. As a result, the MVNO market was negatively affected during the pandemic.
The bifurcations of the MVNO market on the basis of subscriber are enterprise and consumer. Of these, the consumer bifurcation, which dominated the industry in 2020, is predicted to continue on this path till 2031. This is credited to the rising mobile device sales and increasing number of mobile service subscribers. These developments are being accompanied by the growing usage of data-intensive applications, such as video streaming, webgames, and virtual meetings. As a result, telecom companies are investing to improve the network connectivity.
Throughout the forecast period, Europe is predicted to be the largest MVNO market. The high disposable income of Europeans allows market players to charge a higher price for their services. On the other hand, the rising competition in the region among MVNOs has somewhat led to a decline in service rates, which are still higher than in other parts of the world. Moreover, the regional market is being driven by the growing demand for integrated services, including voice over internet protocol (VoIP).
Browse detailed report with COVID-19 impact analysis on Mobile Virtual Network Operator Market Research Report: By Service Type (Discount, Telecom, Media & Entertainment, Business, Retail, Migrant, M2M, Roaming), Category (Postpaid MVNO, Prepaid MVNO), Business Model (Full MVNO, Service MVNO, Reseller MVNO), Subscriber (Consumer, Enterprise) – Global Industry Analysis and Growth Forecast to 2031 @ https://www.psmarketresearch.com/market-analysis/mobile-virtual-network-operator-market
In order to dominate the competition, MVNO market players are widening their service portfolio. For instance,
In March 2021, all the customers of AT&T received access to 5G services free of charge, as the company began adding AT&T 5G+ and 5G access to the accounts of all subscribers.
In the same vein, in March 2020, Yahoo Mobile, which is a virtual network, was launched by Verizon Communications Inc. It offers unlimited text, talk, and data and mobile hotspot features. The hotspot can be used on only one device at a given instance, with the speeds limited to 5 Mbps.
Major companies in the global MVNO market are AT&T Inc., T-Mobile US Inc., Verizon Communications Inc., Lycamobile Group, Red Pocket Inc., CITIC Telecom International Holdings Limited, Truphone Limited, Consumer Cellular Inc., Airvoice Wireless LLC, BT Group plc, Asahi Net Inc., Voiceworks BV, and DataXoom Inc.
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