IoT MVNO Market to Hit $12.8B by 2032, Fueled by IoT Growth and Expanding Smart City Initiatives

The IoT MVNO market is booming, driven by IoT integration, smart cities, connected devices, cost-efficient data, and advanced analytics.

AUSTIN, TX, UNITED STATES, January 3, 2025 /EINPresswire.com/ -- The SNS Insider report highlights that the IoT MVNO Market was valued at USD 2.8 billion in 2023 and is projected to grow to USD 12.8 billion by 2032, registering a CAGR of 18.4% during the forecast period of 2024-2032.

The IoT MVNO (Mobile Virtual Network Operator) market is witnessing huge growth thanks to the fast-increasing adoption of IoT devices across industries and the requirement for economical, scalable, and reliable connectivity solutions. IoT MVNOs are an important part of the fast-growing IoT ecosystem, focusing on managed connectivity services that are specific to IoT applications. Smart city projects across the globe are heavily dependent on IoT for smart grids, traffic management, surveillance, and public utilities – key drivers of growth. As just one example, there are currently just under 500 smart city projects around the world in 2024 requiring strong connectivity options that IoT MVNOs can deliver perfectly. Besides, the increasing adoption of connected cars and smart health solutions (for example, remote patient monitoring and wearable devices) is substantially increasing the addressable market for IoT MVNOs.”

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KEY PLAYERS
The major players are KDDI, KORE Wireless, Sierra Wireless,Twilio, Asahi Net, Telit, BICS, Lycamobile, Wireless Logic, Truphone, and other players
One of these trends is the combination of 5G + eSIM images, the synergistic effect of which has molded IoT connectivity to a new level through faster data transfer, lower latency, and superior device management. One report even quoted that around half of IoT devices will be 5G-ready by 2030, driving the demand for MVNOs that are capable of capitalizing on this. Additionally, the widespread deployment of LPWAN (Low Power Wide Area Networks) is also acting as a boost for IoT MVNOs given the importance of such networks for supporting low-bandwidth IoT applications across various verticals — agriculture, utilities, and more.

Although these opportunities exist, challenges related to data security, regulatory compliance, and integration remain. However, IoT MVNOs are quickly innovating around these problems, and now provide advanced encryption capabilities and combined out-of-the-box platforms to eliminate many of these challenges. As IoT becomes more ubiquitous among industries, the market will only continue to grow.

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Segmentation Analysis

By Organization Size
Small and Medium Enterprises (SMEs) are gaining traction as the main growth engine of the IoT MVNO market as they focus more on using IoT solutions to streamline their operations and cut costs. Many SMEs, especially in the retail, logistics, and healthcare sectors are utilizing IoT MVNOs to offer cost-effective and scalable connectivity. Because of their larger volume and the cheaper option for IoT MVNO Services, this segment will likely be the largest. The segment is still growing with initiatives encouraging digital transformation among SMEs around the world. SME adoption is expected to represent a substantial share of the growth of the IoT MVNO solutions market by 2032.

The largest enterprise segment is expected to grow at the highest CAGR during the forecast period. These organizations require strong, secure long-range IoT connectivity for enterprise IoT use cases for scale, from supply chain optimization to global asset management. Large end-users are fueling demand for technology integrations such as AI and 5G in IoT which in turn driving innovations in IoT MVNO services across the globe with increased investments in IoT technologies. Forecasts going forward expect large enterprises, and their growing need for enterprise-specific IoT solutions and private networks, to drive the demand. This expansion will be driven by their adoption of next-generation IoT technology and the need for higher-quality tailored connectivity services.

Regional Landscape
North America held the largest share of the overall IoT MVNO market, which is attributed to the higher technological expenditure in this region, rising penetration of IoT in various sectors, and growing investments in 5G networks. IoT Deployment in this region is supported by a strong regulatory framework, especially in areas such as healthcare, automotive, and smart cities. North American IoT MVNOs are providing enterprises with scalable and cost-effective solutions to scale connectivity and data management.

The Asia-Pacific region is expected to exhibit the highest CAGR owing to rapid industrialization, urbanization, and growth of IoT-based applications in China, India, and Japan. In addition, the demand for IoT Mobile Virtual Network Operator (MVNO) in the region is driven by government initiatives like smart city projects and the rising adoption of Industry 4.0 in manufacturing. The continued investment in 5G infrastructure and increasing penetration of IoT devices in SMEs are further driving market growth. Low-rate IoT solutions and aggressive impetus for digitization in Asia-Pacific are projected to trigger growth, the automotive industry is anticipated to garner surplus opportunities in logistics, healthcare, and agriculture sectors during the forecast period.

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Recent Developments

January 2024: Vodafone IoT Announced the launch of advanced IoT connectivity management platforms designed to support next-generation smart city initiatives.
March 2024: Twilio Expanded its IoT MVNO services with the introduction of Twilio Super SIM, offering enhanced global coverage and improved data security features.

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