The Global IoT MVNO Market size is expected to reach $10 billion by 2030, rising at a market growth of 19.5% CAGR during the forecast period.
Healthcare is the promising enterprise type that IoT MVNO, therefore, healthcare registered $260.1 million revenue in the market in 2022. Devices with Internet of Things (IoT) capabilities have enabled remote monitoring in this industry, unlocking the potential to maintain patients safe and healthy and enabling doctors to provide excellent treatment. The convenience and effectiveness of contact with clinicians have also enhanced patient participation and satisfaction. Additionally, minimizing hospital stays and avoiding readmissions are two benefits of remote patient health monitoring. IoT also greatly affects healthcare cost reduction and treatment effectiveness.
The major strategies followed by the market participants are Partnerships as the key developmental strategy in order to keep pace with the changing demands of end users. For instance, In October, 2022, BICS partnered with Able Device to expand its IoT offerings. Under this partnership, BICS would integrate SIMbae, Able Device's software agent for SIM and eSIMs, into its ecosystem of IoT services. This technology will allow devices to move between private and public networks at scale and is essential for businesses getting ready to deploy private networks. Additionally, In November, 2022, Telit partnered with Cámara Argentina de IoT—Argentine Chamber of IoT—(CAIoT). Following this partnership, Telit strengthened its market share in the developing South American market while supporting member companies who are interested in the Internet of Things.
Based on the Analysis presented in the Cardinal matrix, KDDI Corporation is the major forerunner in the Market. In March, 2022, Soracom, a KDDI company, signed a partnership with Orange, a telecommunications company for expanding its network for IoT connectivity worldwide. Through this partnership, Orange's wholesale division in France can leverage its roaming agreements with 700 network operators across 220 regions for the benefit of Soracom. It covers cellular IoT roaming on 2G, 3G, 4G, and 5G networks. Companies such as Proximus Group, KORE Wireless Group, TELUS International are some of the key innovators in the Market.
MVNOs can benefit from network virtualization techniques like network function virtualization (NFV) and software-defined networking (SDN) since they lower implementation costs and increase network agility. Additionally, these technologies may allow MVNOs to provide connectivity options like edge computing and network slicing. MVNOs may deploy and maintain their networks more affordably owing to network virtualization technologies. By virtualizing network operations, MVNOs can use scalable and more flexible software-based solutions instead of costly hardware. Thus, the aforementioned factors will promote the growth of the market in the coming years.
Businesses from developed nations are eager to extend their company operations in emerging economies since labor expenses and real estate prices are lower there. Additionally, as developing countries like Brazil, Mexico, Africa, India, China, and Indonesia become more industrialized, significant infrastructural investments have been made in these countries, tempting international companies to set up manufacturing operations there. These developments necessitate the integration and management of supply chains by smart and contemporary warehouse facilities. Therefore, as a result of these elements, the market will experience substantial growth in the years to come.
The deployment and management of IoT networks can be complex and costly. MVNOs must invest in infrastructure, network management systems, and skilled personnel to support IoT services. The initial setup costs, ongoing maintenance expenses, and the complexity of managing a large number of devices can be deterrents for some MVNOs. The necessity for specialized connectivity options and dedicated networks might make the deployment of an IoT MVNO network expensive. This may hinder the uptake of IoT MVNO services, particularly by smaller businesses that could lack the funding for pricey connection solutions. High setup costs have a big impact on IoT MVNO services' adoption and growth. Hence, all these factors may hamper the growth of the market throughout the forecast period.
Based on operational model, the market is characterized into service operator, full MVNO, and reseller. The segment procured a considerable growth rate in the market in 2022. Almost any business may now become an MVNO because of the advent of MVNEs, which are resellers of the cellular network and network infrastructure IT services. Today, numerous MVNEs or resellers are active in different parts of the world. Resellers frequently have connectivity agreements with numerous MNOs, which enables a new MVNO to possibly serve clients worldwide.
On the basis of subscribers, the market is classified into enterprise and consumer. The enterprise segment acquired the largest revenue share in the market in 2022. The use of IoT devices in businesses is expanding quickly. This is being driven by the rise in connected device demand across a number of sectors, including manufacturing, healthcare, and transportation. Internet of Things devices can be applied in numerous different contexts. Due to the special requirements of their IoT devices, enterprises demand flexible connectivity solutions. IoT MVNOs offer adaptable connection options that can be adjusted to the particular requirements of businesses.
By enterprise type, the market is divided into transportation & logistics, retail, healthcare, manufacturing, energy & utilities, agriculture, and others. The transportation and logistics segment witnessed the maximum revenue share in the market in 2022. One of the fastest- and largest-growing segments of the economy is the transportation and logistics sector. Industry is in charge of the transportation of people and products throughout the world, and it is a key link in the global supply chain. Internet of Things (IoT) devices are utilized to monitor the flow of commodities along the supply chain.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 2.5 Billion |
| Market size forecast in 2030 | USD 10 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 19.5% from 2023 to 2030 |
| Number of Pages | 228 |
| Number of Table | 383 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Operational Model, Subscribers, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment acquired the highest revenue share in the market in 2022. The confluence of the IT with telecom sectors is projected to result in rapid growth for IoT MVNO services in North America. For North American enterprise customers using IoT MVNO services, this convergence is predicted to create enormous prospects. Due to their lower OPEX, alluring rates, individualized service plans, and other benefits for new enterprises and customers, IoT MVNOs present appealing alternatives to the mature telecom sector.
Free Valuable Insights: Global IoT MVNO Market size to reach USD 10 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include KORE Wireless Group, KDDI Corporation, Semtech Corporation, Giesecke & Devrient GmbH, Aeris Communications, Inc., Proximus Group (BICS), TELUS International (TELUS Communications Inc.), U-blox Holding AG, Orbcomm, Inc. (GI Partners L.P.) and Telit corporate group (DBAY Advisors Limited).
By Operational Model
By Subscribers
By Geography
The Market size is projected to reach USD 10 billion by 2030.
An increase in network virtualization deployment are driving the Market in coming years, however, Rapid rise in deployment expenses restraints the growth of the Market.
KORE Wireless Group, KDDI Corporation, Semtech Corporation, Giesecke & Devrient GmbH, Aeris Communications, Inc., Proximus Group (BICS), TELUS International (TELUS Communications Inc.), U-blox Holding AG, Orbcomm, Inc. (GI Partners L.P.) and Telit corporate group (DBAY Advisors Limited).
The Service Operator segment is leading the Global IoT MVNO Market by Operational Model in 2022 thereby, achieving a market value of $4.5 billion by 2030.
The North America market dominated the Global IoT MVNO Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.8 billion by 2030.
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