The global mobile virtual network operators market is anticipated to report a CAGR of 7.8% between 2018 and 2025 with the 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 (MVNO) 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 2025”. The report points out the most influential factors that are expected to drive the market during the forecast period.
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The market was valued at US$ 62.5 Bn in 2017 and is likely to reach US$ 113.9 by 2025. 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.
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 has 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-2018. 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 diaspora. For example, the UK-based Lycamobile specifically offers low-cost international calling, messaging, and data plans across Europe and parts of Africa, USA, and Australia.
Increasing digitization of services such as banking and growing popularity of e-commerce is expected to further fuel the global mobile virtual network operators market till 2025. 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 home. These factors combined are expected to propel the market revenue to USD 113.9 billion by the end of 2025.
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 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.
Key Players to Drive the Market
As the global mobile virtual network market grows, competition is expected to intensify. Fortune Business Insights identifies key players influencing the market. These include Virgin Mobile, Lycamobile, Verizon Wireless, Project FI by Google, Affinity Cellular, and a few others.
Read more in this Press Release:
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 2017 and will keep rising till 2025. The market is 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, 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.
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