IoT MVNO Market worth $6.8 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 6, 2023 /PRNewswire/ -- With rising IoT usage, industry-specific solutions, 5G connection, a focus on security and privacy, partnerships for ecosystem integration, and employing AI and analytics for advanced services, the future of the IoT MVNO market is bright. IoT MVNOs are in a good position to meet the changing needs of businesses and have a big impact on how IoT deployments are done in the future.

The IoT MVNO Market size is projected to grow from USD 2.9 billion in 2023 to USD 6.8 billion by 2028, at a CAGR of 18.2% during the forecast period, according to a new report by MarketsandMarkets™. Due to the rise in the number of devices connected to the internet, increasing demand for connectivity solutions specifically designed for IoT has been noticed in the market ecosystem. IoT MVNOs offer specialized services and connectivity plans as solutions tailored to meet the need of IoT devices.

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Scope of the Report

The service operator segment is expected to grow at the highest CAGR during the forecast period

The growth of the IoT market is being driven by a number of factors, including the increasing adoption of IoT devices, the growing need for data-driven insights, the need for flexibility and scalability, and the need for security. Service operators are well-positioned to meet this demand and are expected to play a key role in the growth of the IoT MVNO Market. The service operator segment in the IoT MVNO Market is expected to grow at a double-digit CAGR from 2023 to 2028

The transportation and logistics segment is expected to account for the largest market size during the forecast period

The transportation and logistics industry is one of the fastest and largest-growing sectors in the global economy. The industry is responsible for the movement of goods and people around the world, playing a crucial role in the global supply chain. IoT devices are being used to track the movement of goods throughout the supply chain. This data can be used to improve efficiency, reduce costs, and improve customer service. IoT devices are being used to monitor the condition of assets, such as trucks and trailers. This data can be used to prevent breakdowns and improve maintenance.

Based on region, North America is expected to dominate the market during the forecast period

North America is expected to dominate the IoT MVNO Market in the coming years. The US government has been a strong supporter of IoT, which has helped create a favourable environment for the growth of the IoT MVNO Market in North America. There has been a high level of investment in IoT in North America, which has helped drive the development of new IoT technologies and solutions. North America has a mature telecommunications infrastructure, which provides a solid foundation for the deployment of IoT solutions. Overall, the IoT MVNO Market in North America is expected to grow in the coming years, driven by several factors, including the increasing adoption of IoT devices, the growing need for data-driven insights, flexibility and scalability, and the need for security.

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IoT MVNO Market Dynamics

Driver:

• Growing demand for IoT connectivity
• Increasing adoption of cloud computing
• Growing need for IoT security
• Increased need for efficient cellular network

Restraint:

• Rapid increase in deployment costs
• Increasing security and privacy concerns

Opportunities:

• Increase in adoption of network virtualization
• Acceleration of IP and cloud data traffic

Challenges:

• Excessive cost of equipment
• Lack of interoperability of solutions

Top Key Companies in IoT MVNO Market:

The major players in the IoT MVNO Market are KDDI (Japan), KORE Wireless (US), Sierra Wireless (Canada), Twilio (US), Asahi Net (Japan), Telit (US), BICS (Belgium), Lycamobile (UK), Wireless Logic (UK), Truphone (UK), Aeris Communications (US), Cubic Telecom (Ireland), Hologram (US), 1NCE (Germany), 1OT (Estonia), Soracom (Japan), Onomondo (Denmark), etc. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and enhancements, and acquisitions to expand their footprint in the IoT MVNO Market.

Recent Developments

• In May 2023, KORE Wireless announced the launch of its new vertical offering in retail solutions. The retail industry is rapidly undergoing a digital transformation, and KORE has aligned its portfolio to offer high-bandwidth solutions to meet these needs. The KORE Retail solution includes high bandwidth 5G cellular connectivity through fixed wireless access (FWA) to provide high-speed internet access traditionally available through wireline solutions.
• In March 2023, Aeris Communications announced the closing of the purchase of Ericsson's IoT Accelerator (IoT-A) and Connected Vehicle Cloud (CVC) businesses and related assets. Ericsson will establish a small stake in the new Aeris. The Aeris serves thousands of customers across a wide range of industries – including healthcare, fleet, utilities, and automotive.
• In January 2023, Truphone, a global mobile virtual network operator, launched a new IoT platform. The platform offers businesses a secure and reliable way to connect their IoT devices.
• In January 2023, Semtech Corporation and Sierra Wireless, Inc. announced the completion of Semtech's acquisition of Sierra Wireless in an all-cash transaction representing a total enterprise value of approximately USD 1.2 billion. This transaction nearly doubles Semtech's annual revenue and adds approximately USD 100 million of high-margin IoT Cloud services recurring revenue.
• In January 2023, Sierra Wireless, a subsidiary of Semtech Corporation, announced the introduction of Smart Connectivity Premium with eUICC capabilities and extended connectivity coverage in the United States.

IoT MVNO Market Advantages:

• Specialised connectivity services designed exclusively for IoT devices are offered by IoT MVNOs. They provide stable connectivity and optimised network coverage, ensuring smooth data transmission for IoT applications. These networks are built to support extensive IoT installations, enabling devices to remain connected even in difficult circumstances.
• IoT MVNOs frequently provide adaptable pricing structures and data plans created especially for IoT deployments. They are aware of the particular needs of IoT devices, including their limited data consumption, sporadic connectivity, and diverse data flow patterns. As a result, IoT MVNOs can provide affordable plans, enabling companies to minimise their IoT connectivity costs.
• Many IoT MVNOs have forged alliances with numerous network operators all over the world, enabling them to provide international coverage. For companies with global operations or those looking to grow their IoT implementations globally, this is very helpful. IoT MVNOs reduce complexity and provide uniform service across geographies by making it easier to manage connectivity across several countries.
• Value-added services are frequently offered by IoT MVNOs to improve the IoT ecosystem. Platforms for device administration, data analytics tools, security options, and IoT platform integration capabilities are a few examples of these services. IoT MVNOs give organisations the ability to optimise their IoT operations and gain useful insights from their IoT data by providing these supplementary services.
• IoT MVNOs can easily handle the expansion of IoT device connections because they are built to manage large-scale IoT deployments. Businesses can scale up or down their IoT implementations using their scalable connectivity options. Additionally, IoT MVNOs give businesses the flexibility they need to adjust to shifting customer demands and market situations in terms of network management, data plans, and connection alternatives.

Report Objectives

• To determine and forecast the global IoT MVNO market by operational model, subscribers, enterprise vertical, and region from 2023 to 2028
• To analyze the various macroeconomic and microeconomic factors affecting the market growth
• To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa, Latin America
• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the IoT MVNO market
• To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall IoT MVNO market
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the IoT MVNO market
• To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the competitive landscape of the market
• To track and analyze competitive developments, such as mergers & acquisitions, product developments, partnerships & collaborations, and research & development (R&D) activities, in the market.

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