MarketsandMarkets forecasts that the MVNO market size is projected to grow from USD 84.6 billion in 2023 to USD 116.8 billion by 2028, at a CAGR of 6.7% during the forecast period. Many countries in the have a robust mobile-first culture, with a high penetration of smartphones and mobile devices. This mobile-centric environment creates opportunities for MVNOs to leverage existing mobile networks and offer IoT connectivity services to various devices, thus driving the market growth. “By Operational Mode, the service operator segment is expected to grow with the highest CAGR during the forecast period.” Service operators have their own infrastructure, which enables them to have complete control over their business and service offerings. The degree of control and flexibility an MVNO has will depend on which operating elements it controls. However, host operators may impose some restrictions on MVNOs in the retail environment. Service operator is one of the most popular models for new entrants. It enables MVNOs to start with a select set of operating elements and develop their own operations gradually. After their proposition has been proven and they have gained a considerable number of customers, MVNOs take over the operations of their host MNOs. The service operator model suits and helps businesses with brands or service concepts differentiate themselves from existing players. “By Subscriber, the consumer segment is expected to hold the largest market size during the forecast period.” MVNO is a consumer-driven market, with more than 80% of the market covered by consumer-based vendors. The consumer is projected to be the dominant segment during the forecast period due to the availability of MVNOs that provide customer-centric offerings, such as affordable data & voice plans and the latest technologies. Currently, MVNOs are attracting more customers due to higher brand loyalty than new mobile entrants. These MVNOs provide unique services to their customers to differentiate themselves from traditional operators. The areas of differentiation include tariff flexibility, high-quality customer services, unique distribution models, bundling with fixed services, and access to unique content (music, games, and videos) and services. “Asia Pacific is expected to grow with the highest CAGR during the forecast period.” The MVNO market in the Asia Pacific region has undergone significant transformation in recent years. Asia Pacific has always been an emerging region for the telecom industry. The region's diversified geographic area and high customer base creates huge opportunities for MVNOs. As per the International Telecommunication Union (ITU), APAC has emerged as the largest marketplace for the telecom industry across the globe. China and India are the world’s largest marketplaces for the telecom industry in terms of network infrastructure capacity and end-user subscribers. In terms of mobile subscriber base, the region holds the greatest number of consumers as compared to other regions and will remain one of the fastest-growing markets by 2024 and beyond. Breakdown of primaries The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:  By Company: Tier 1–62%, Tier 2–23%, and Tier 3–15%  By Designation: C-Level Executives–38%, Directors–30%, and Others–32%  By Region: North America–40%, Europe–15%, Asia Pacific–35%, Middle East and Africa–5%, Latin America–5%, The major players in the MVNO market Virgin Media Business (UK), Dataxoom (US), Lebara (UK), KDDI (Japan), Asahi Net (Japan), Virgin Mobile (US), Tracfone Wireless (US), Boost Mobile (US), Lycamobile (UK), Tesco Mobile (UK), Postemobile (UK), Airvoice Wireless (US), Asda Mobile (UK), Giffgaff (UK), Kajeet (US), Voiceworks (Netherlands), Ting (US), Red Pocket Mobile (US), Consumer Cellular (US), Hologram (US), 1oT (Estonia), Soracom (Japan), Onomondo (Denmark), Airlinq (US), EMnify (Germany), and 1NCE (Germany). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the MVNO market. Research Coverage The report segments the global MVNO market by operational model into three categories: reseller, service operator and full MVNO. By subscriber, the MVNO market is divided into two categories: consumer and enterprise. By business model, the MVNO market has been classified into discount, specialist data, ethnic, business, international/roaming, youth/media, bundled, and others. By region, the market has been segmented into North America, Europe, APAC, MEA, and Latin America. Key benefits of the report The report would help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall MVNO market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report would help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities. The report provides insights on the following pointers: Analysis of key drivers (Provision of demographic-related customer services, Profit maximization opportunity for both MNOs and MVNOs), restraints (MNOs giving low priority to MVNO customers), opportunities (Adoption of IoT, M2M, and BYOD by MVNOs to attract new customers), and challenges (Fragmented nature of market, Stringent government rules and regulations for MNOs and MVNOs) influencing the growth of the MVNO market. • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the MVNO market. • Market Development: Comprehensive information about lucrative markets – the report analyses the MVNO market across varied regions. • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the MVNO market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players as Virgin Media Business (UK), Dataxoom (US), Lebara (UK), KDDI (Japan), Asahi Net (Japan), Virgin Mobile (US), Tracfone Wireless (US), Boost Mobile (US), Lycamobile (UK), Tesco Mobile (UK), Postemobile (UK), Airvoice Wireless (US), Asda Mobile (UK), Giffgaff (UK), Kajeet (US), Voiceworks (Netherlands), Ting (US), Red Pocket Mobile (US), Consumer Cellular (US), Hologram (US), 1oT (Estonia), Soracom (Japan), Onomondo (Denmark), Airlinq (US), EMnify (Germany), and 1NCE (Germany).

1 INTRODUCTION 21 1.1 STUDY OBJECTIVES 21 1.2 MARKET DEFINITION 21 1.2.1 INCLUSIONS AND EXCLUSIONS 21 1.3 MARKET SCOPE 22 1.3.1 MARKET SEGMENTATION 22 1.3.2 REGIONS COVERED 23 1.3.3 YEARS CONSIDERED 23 1.4 CURRENCY CONSIDERED 24 1.5 STAKEHOLDERS 24 1.6 SUMMARY OF CHANGES 24 1.6.1 RECESSION IMPACT 25 2 RESEARCH METHODOLOGY 26 2.1 RESEARCH DATA 26 2.1.1 SECONDARY DATA 27 2.1.2 PRIMARY DATA 27 2.1.2.1 Breakup of primaries 27 2.1.2.2 Key industry insights 28 2.2 MARKET BREAKUP AND DATA TRIANGULATION 28 2.3 MARKET SIZE ESTIMATION 29 2.3.1 TOP-DOWN APPROACH 29 2.3.2 BOTTOM-UP APPROACH 30 2.4 MARKET FORECAST 31 2.5 RESEARCH ASSUMPTIONS AND LIMITATIONS 32 2.5.1 STUDY ASSUMPTIONS 32 2.5.2 LIMITATIONS 32 2.6 IMPLICATION OF RECESSION ON MVNO MARKET 33 3 EXECUTIVE SUMMARY 34 4 PREMIUM INSIGHTS 37 4.1 ATTRACTIVE OPPORTUNITIES FOR COMPANIES IN MVNO MARKET 37 4.2 MVNO MARKET, BY OPERATIONAL MODEL 37 4.3 MVNO MARKET, BY SUBSCRIBER 38 4.4 NORTH AMERICAN MVNO MARKET, BY OPERATIONAL MODEL AND COUNTRY 38 5 MARKET OVERVIEW AND INDUSTRY TRENDS 39 5.1 INTRODUCTION 39 5.2 MARKET DYNAMICS 39 5.2.1 DRIVERS 40 5.2.1.1 Provision of demographic-related customer services 40 5.2.1.2 Profit maximization opportunity for both MNOs and MVNOs 40 5.2.2 RESTRAINTS 40 5.2.2.1 MNOs giving low priority to MVNO customers 40 5.2.3 OPPORTUNITIES 41 5.2.3.1 Adoption of IoT, M2M, and BYOD by MVNOs to attract new customers 41 5.2.4 CHALLENGES 41 5.2.4.1 Fragmented nature of market 41 5.2.4.2 Stringent government rules and regulations for MNOs and MVNOs 41 5.3 INDUSTRY TRENDS 42 5.3.1 BRIEF HISTORY OF MVNO 42 5.3.2 ECOSYSTEM ANALYSIS 42 5.3.3 TECHNOLOGY ROADMAP OF MVNO MARKET 43 5.3.3.1 Short-term roadmap (2023-2025) 43 5.3.3.2 Mid-term roadmap (2026-2028) 43 5.3.3.3 Long-term roadmap (2029-2030) 43 5.3.4 CASE STUDY ANALYSIS 44 5.3.4.1 Case study 1: Telit provided stable connection for water monitoring to WaterSignal using cellular connectivity 44 5.3.4.2 Case study 2: SORACOM provided strong, consistent connection, real-time visualization, and secure pathway to Aurora Payments via SORACOM VPG 44 5.3.4.3 Case study 3: M2M Services implemented LTE-M Technology and Modules for Alarm Devices for Telit 45 5.3.4.4 Case study 4: Kajeet filtering enabled through Sentinel helped manage data consumption across active devices 45 5.3.4.5 Case study 5: SORACOM’s Napter service helped to maximize security by providing remote access to any EV charger on demand 46 5.3.5 VALUE CHAIN ANALYSIS 46 5.3.6 REGULATORY LANDSCAPE 47 5.3.6.1 General Data Protection Regulation 47 5.3.6.2 Personal Information Protection and Electronic Documents Act 47 5.3.6.3 Cloud Security Alliance Security Trust Assurance and Risk 48 5.3.6.4 SOC 2 48 5.3.6.5 Digital Millennium Copyright Act 48 5.3.6.6 Anti-Cybersquatting Consumer Protection Act 48 5.3.6.6.1 US 48 5.3.7 PATENT ANALYSIS 49 5.3.8 KEY CONFERENCES & EVENTS, 2022-2023 51 5.3.9 PRICING ANALYSIS 52 5.3.10 PORTER’S FIVE FORCES MODEL 52 5.3.10.1 Threat of new entrants 53 5.3.10.2 Threat of substitutes 53 5.3.10.3 Bargaining power of buyers 53 5.3.10.4 Bargaining power of suppliers 54 5.3.10.5 Intensity of competitive rivalry 54 5.3.11 KEY STAKEHOLDERS & BUYING CRITERIA 54 5.3.11.1 Key stakeholders in buying criteria 54 5.3.11.2 Buying criteria 55 5.3.12 MVNO IMPACT ON ADJACENT NICHE TECHNOLOGIES 56 5.3.12.1 Network function virtualization (NFV) 56 5.3.12.2 Software-defined network (SDN) 56 5.3.12.3 Artificial Intelligence 56 5.3.12.4 Edge computing 56 5.3.12.5 Blockchain 57 5.3.13 BEST PRACTICES OF MVNO MARKET 57 5.3.14 MVNO SOFTWARE APPLICATIONS AND USE CASES 57 5.3.15 CURRENT AND EMERGING BUSINESS MODELS 58 5.3.15.1 CaaS model 58 5.3.15.2 Managed services model 58 5.3.15.3 Revenue sharing model 58 5.3.15.4 PaaS model 58 6 MVNO MARKET, BY OPERATIONAL MODEL 59 6.1 INTRODUCTION 60 6.1.1 OPERATIONAL MODEL: MVNO MARKET DRIVERS 60 6.2 RESELLER 61 6.3 SERVICE OPERATOR 62 6.4 FULL MVNO 63 7 MVNO MARKET, BY SUBSCRIBER 65 7.1 INTRODUCTION 66 7.1.1 SUBSCRIBER: MVNO MARKET DRIVERS 66 7.2 CONSUMER 67 7.3 ENTERPRISE 68 8 MVNO MARKET, BY SERVICE TYPE 70 8.1 INTRODUCTION 71 8.1.1 SERVICE TYPE: MVNO MARKET DRIVERS 71 8.2 POSTPAID 72 8.3 PREPAID 73 9 MVNO MARKET, BY BUSINESS MODEL 74 9.1 INTRODUCTION 74 9.2 DISCOUNT 74 9.3 SPECIALIST DATA 74 9.4 ETHNIC 74 9.5 BUSINESS 74 9.6 INTERNATIONAL/ROAMING 74 9.7 YOUTH/MEDIA 75 9.8 BUNDLED 75 9.9 OTHERS 75 10 MVNO MARKET, BY REGION 76 10.1 INTRODUCTION 77 10.2 NORTH AMERICA 78 10.2.1 NORTH AMERICA: RECESSION IMPACT 78 10.2.2 NORTH AMERICA: IOT MVNO MARKET DRIVERS 78 10.2.3 UNITED STATES 81 10.2.3.1 Increasing demand for flexible data packs and affordable mobile services to drive market 81 10.2.4 CANADA 81 10.2.4.1 Rise in adoption of innovative delivery methods to propel growth of market 81 10.3 EUROPE 81 10.3.1 EUROPE: RECESSION IMPACT 82 10.3.2 EUROPE: IOT MVNO MARKET DRIVERS 83 10.3.3 GERMANY 85 10.3.3.1 Low infrastructure-related costs and government initiatives to boost market 85 10.3.4 UNITED KINGDOM 85 10.3.4.1 Increased adoption of IoT and M2M technologies to fuel market growth 85 10.3.5 FRANCE 85 10.3.5.1 Support from government and growing internet penetration to drive market 85 10.3.6 REST OF EUROPE 86 10.4 ASIA PACIFIC 86 10.4.1 ASIA PACIFIC: RECESSION IMPACT 87 10.4.2 ASIA PACIFIC: IOT MVNO MARKET DRIVERS 88 10.4.3 CHINA 90 10.4.3.1 Surge in demand for Wi-Fi data connections to fuel growth of market 90 10.4.4 JAPAN 90 10.4.4.1 Expansion of 5G services and increasing use of VoIP to drive market 90 10.4.5 AUSTRALIA AND NEW ZEALAND 91 10.4.5.1 Service differentiation by MVNOs to propel growth of market 91 10.4.6 REST OF ASIA PACIFIC 91 10.5 MIDDLE EAST AND AFRICA 91 10.5.1 MIDDLE EAST AND AFRICA: RECESSION IMPACT 92 10.5.2 MIDDLE EAST AND AFRICA: IOT MVNO MARKET DRIVERS 92 10.5.3 MIDDLE EAST 94 10.5.3.1 Widespread adoption of IoT and digital transformation to drive market 94 10.5.4 AFRICA 94 10.5.4.1 Business transformations and supportive policies to gain market traction 94 10.6 LATIN AMERICA 95 10.6.1 LATIN AMERICA: RECESSION IMPACT 95 10.6.2 LATIN AMERICA: IOT MVNO MARKET DRIVERS 95 10.6.3 BRAZIL 97 10.6.3.1 Increasing adoption of Wi-Fi and broadband by enterprises to drive market 97 10.6.4 MEXICO 98 10.6.4.1 Wireless internet connectivity initiatives to fuel growth of market 98 10.6.5 REST OF LATIN AMERICA 98 11 COMPETITIVE LANDSCAPE 99 11.1 INTRODUCTION 99 11.2 HISTORICAL REVENUE ANALYSIS 99 11.3 MARKET SHARE ANALYSIS OF KEY PLAYERS 100 11.4 COMPETITIVE BENCHMARKING 101 11.5 EVALUATION MATRIX METHODOLOGY FOR KEY PLAYERS 103 11.6 EVALUATION MATRIX FOR KEY PLAYERS 103 11.6.1 STARS 103 11.6.2 EMERGING LEADERS 103 11.6.3 PERVASIVE PLAYERS 104 11.6.4 PARTICIPANTS 104 11.7 STARTUP/SME EVALUATION MATRIX: METHODOLOGY AND DEFINITIONS 105 11.7.1 PROGRESSIVE COMPANIES 105 11.7.2 RESPONSIVE COMPANIES 105 11.7.3 DYNAMIC COMPANIES 105 11.7.4 STARTING BLOCKS 105 11.8 COMPETITIVE SCENARIO 106 11.8.1 PRODUCT LAUNCHES 106 11.8.2 DEALS 107 12 COMPANY PROFILES 108 12.1 INTRODUCTION 108 12.2 KEY PLAYERS 108 12.2.1 VIRGIN MEDIA BUSINESS (UK) 108 12.2.2 DATAXOOM 111 12.2.3 LEBARA 113 12.2.4 KDDI 115 12.2.5 ASAHI NET 117 12.2.6 VIRGIN MOBILE USA 119 12.2.7 TRACFONE WIRELESS 120 12.2.8 FRIENDI MOBILE 121 12.2.9 BOOST MOBILE 122 12.2.10 LYCAMOBILE 123 12.2.11 TESCO MOBILE 124 12.2.12 POSTEMOBILE 124 12.2.13 AIRVOICE WIRELESS 125 12.2.14 ASDA MOBILE 125 12.2.15 GIFFGAFF 126 12.2.16 KAJEET 126 12.2.17 VOICEWORKS 127 12.2.18 TING 127 12.2.19 RED POCKET MOBILE 128 12.2.20 CONSUMER CELLULAR 128 12.3 OTHER KEY PLAYERS 129 12.3.1 HOLOGRAM 129 12.3.2 1OT 130 12.3.3 SORACOM 131 12.3.4 ONOMONDO 132 12.3.5 AIRLINQ 133 12.3.6 EMNIFY 134 12.3.7 1NCE 135 13 ADJACENT/RELATED MARKETS 136 13.1 INTRODUCTION 136 13.2 IOT MVNO MARKET - GLOBAL FORECAST TO 2027 136 13.2.1 MARKET DEFINITION 136 13.2.2 MARKET OVERVIEW 136 13.2.3 IOT MVNO MARKET, BY OPERATIONAL MODEL 136 13.2.4 IOT MVNO MARKET, BY SUBSCRIBER 137 13.2.5 IOT MVNO MARKET, BY ENTERPRISE 138 13.2.6 IOT MVNO MARKET, BY REGION 139 13.3 TELECOM ANALYTICS MARKET - GLOBAL FORECAST TO 2023 140 13.3.1 MARKET DEFINITION 140 13.3.2 MARKET OVERVIEW 140 13.3.3 5G SERVICES MARKET, BY COMPONENT 140 13.3.4 5G SERVICES MARKET, BY APPLICATION 140 13.3.5 5G SERVICES MARKET, BY REGION 141 14 APPENDIX 142 14.1 DISCUSSION GUIDE 142 14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 145 14.3 CUSTOMIZATION OPTIONS 147 14.4 RELATED REPORTS 147 14.5 AUTHOR DETAILS 148