NEW YORK, Nov. 1, 2021 /PRNewswire/ -- The European mobile virtual network operator market revenue stood at $27,748.1 million in 2020, and it is expected to surge to $48,762.8 million by 2030, registering a CAGR of 5.8% from 2020 to 2030. The market is being propelled by the growing use of cloud-based solutions, surging penetration of mobile devices, increasing requirement for low-cost mobile services, and burgeoning demand for triple-play services in emerging economies.
The increasing focus of regional MVNOs on innovative distribution and segment-targeted pricing strategies is also fueling the expansion of the European MVNO market. These entities cater to the needs of several customers by ensuring the optimum usage of mobile network operators' (MNOs) telecom infrastructure. The success of MVNOs depends heavily on value proposition and brand positioning for attracting the target customers, such as migrant workers, tourists, and specific ethnic groups.
The use of self-service portals, owing to their ability to give consumers more control over their mobile data, is becoming a major trend in the European MVNO market.
Key Findings of Europe MVNO Market Report
The popularity of postpaid MVNO services is expected to soar in the coming years owing to the fact that they allow customers to only pay as per usage. Moreover, these services do not require any upfront payment.
Enterprises are set to become the major subscribers of MVNO services in the forthcoming years because of the huge investments being made by commercial organizations of different sizes for improving their services, via better connectivity.
The demand for these services was the highest in Germany in the past, and this trend will continue in the coming years. This will be because of the existence of numerous unique mobile subscribers in the country.
The players operating in the European MVNO market are focusing on service launches to augment their revenue.
AT&T Inc. announced in March 2021 that its customers will be granted access to 5G services for no additional charge.
Verizon Communications Inc. launched on-site long-term evolution (LTE), a private network for business customers, in December 2020.
AT&T Inc., Lycamobile Group, Verizon Communications Inc., Consumer Cellular Inc., T-Mobile US Inc., Giffgaff Limited, ASDA Stores Limited, CITIC Telecom International Holdings Limited, Voiceworks BV, BT Group plc, Red Pocket Inc., and Truphone Limited are some of the major players operating in the industry.
The COVID-19 pandemic has slowed down the growth of the market, as the lockdowns imposed by several governments caused the closing down of companies and stores, thereby leading to a massive fall in the sales of devices and number of subscribers.
Browse Other Related Reports
MVNO Market - The increasing focus of market players on segment-targeted pricing and innovative distribution strategies will drive the MVNO market at a CAGR of 7.1% during the forecast period (2021–2031). The market revenue stood at $66,582.0 million in 2020, and it will reach $139,663.0 million by 2031.
SD-WAN Market - The rising need for network privacy and improved visibility, vast adoption of cloud-based applications, internet of things (IoT), and big data, and surging awareness about cyber threats are the major factors contributing toward the rising demand for software-defined wide area network (SD-WAN) solutions.
5G Infrastructure Market - The rising demand for low-latency internet, increasing adoption of technologies that demand speedy internet connections, such as the internet of things (IoT); expanding 5G subscriber base, and surging investments by governments and private organizations are some of the major factors responsible for the growth of the global 5G infrastructure market.
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.