The MVNO market is expected to showcase significant growth by 2027 owing to the proliferating number of smartphone users around the globe. The product is gaining popularity among mobile data service consumers worldwide for its low-cost services advantages, which is anticipated to further augment market expansion over the coming years.
A mobile virtual network operator (MVNO) refers to a company that provides telecommunications services in the same way as a mobile network operator (MNO). However, instead of owning any radio frequency spectrum, the MVNO makes a deal with a mobile network provider who owns radio frequency spectrum.
With the rising number of smartphone users and wireless subscribers, the demand for low-cost calling and data services is also increasing, thereby boosting market demand. Moreover, constant improvement in network services, soaring data usage, and increasing adoption of IoT globally is further bolstering business expansion.
In order to monetize on emerging opportunities in the sector, prominent industry players are employing various strategic tactics to strengthen their position in the market. For instance, in June 2021