IoT MVNO market set to reach USD 14.26 billion by 2032 with 18.59% CAGR growth
From GlobeNewswire: 2025-01-09 09:00:00
The IoT MVNO market was valued at USD 3.09 billion in 2023, projected to reach USD 14.26 billion by 2032 with a CAGR of 18.59% from 2024 to 2032. As IoT device adoption grows, MVNOs target sectors like healthcare and transportation with flexible connectivity solutions. 5G and edge computing innovations will further expand their role.
In 2023, the business segment dominated the IoT MVNO market with 75% revenue share. Industries like logistics and healthcare rely on MVNOs for secure connectivity. The consumer segment is expected to grow at a CAGR of 20.67% from 2024 to 2032, driven by demand for smart home devices and wearables.
Full MVNOs dominated the IoT MVNO market in 2023 with 48% revenue share, offering customized solutions for enterprises. Service Provider MVNOs are expected to grow at a CAGR of 19.92% from 2024 to 2032, driven by demand for flexible and affordable IoT connectivity. Specialized services for Service Provider MVNOs offer data management and network optimization to meet specific needs in niche markets. North America leads the IoT MVNO market with a 39% revenue share in 2023, while Asia Pacific is expected to grow at a CAGR of 21.29% from 2024 to 2032. Key partnerships in the market include Verizon and KDDI, eSIM Go and Vodafone UK, and BWS IoT and KORE Wireless. SNS Insider provides consulting services for market assessment and insights.
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