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Light Business Model in Virtual Network Operator Market Is Anticipated to Witness Growth at Over 12.5% During 2018 – 2024

Author : Ronak Bora | Published Date : 2019-03-07 

Virtual Network Operator Market is set to exceed USD 120 billion by 2024. Growing number of customers opting for cost-effective services is driving the Virtual Network Operator Market. Companies that offer voice & SMS services, limited data, and inexpensive devices are increasing. These companies are targeting and successfully attracting the price-conscious customers using traditional marketing channels such as physical stores and limited budgets. This allows the companies to generate profits, encouraging the new players to enter the industry.

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Growing trend of M2M connectivity and IoT is expected to drive the Virtual Network Operator Market with a number of IoT devices in use projected to reach about 20.5 billion by 2020. These devices require connectivity to leverage their full potential, creating opportunities for the players in the industry. High degree of agility and high innovation capabilities of these players make them an attractive option in the IoT connectivity space. Due to this, the players have a tremendous growth potential, particularly in the connected cars and smart cities applications.

Growing need among the players for service differentiation is expected to play a vital role in the Virtual Network Operator Market growth. These companies integrate the products and services provided by the Virtual Network Operator with loyalty programs and financial services. The players are constantly adding innovative products and service bundles to their offerings as the subscribers are demanding service bundles that satisfy most of their mobility requirements.

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Growing prioritization of the host carrier to provide high-quality services to their regular customers will challenge the Virtual Network Operator Market growth. The MNOs prioritize the service of regular customers as these customers pay for the privilege. Also, in cases of network saturation, such as in cases of natural disasters or broadcast of multiple video streams, the host provider ensures services to its primary customers. Increasing prioritization of MNOs discourage the consumers to switch to the virtual networks, thus hampering the Virtual Network Operator market growth.

The light Virtual Network Operator Market is anticipated to witness growth at over 12.5% due to the increasing adoption and consumer focus on low-cost services. The business model requires low investment, allowing a large number of players with low budgets to enter the industry. Also, the players with this business model can focus on niche customer segments that are difficult for an MNO to address. Increasing demand for customized offerings will provide growth opportunities to the light MVNO market.

Regional governments are also taking laudable interest in issuing commercial licenses to players operating in the market even including foreign invested firms. Say for instance, few years back, in 2014, the Ministry of Industry and Information of China had reportedly issued 37 Virtual Network Operator licenses in the regional market to increase the competition in the mobile sector. This year, the Chinese government made its way to the headlines with the announcement of its decision of issuing formal licenses to private entities that deal with mobile service reselling as virtual networks. Backed by such a supportive regulatory framework with more than 59 million subscribers, China Virtual Network Operator Market is slated to witness a remarkable CAGR of 16% over 2018-2024.

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In the light of the recent scenario, it is vividly conspicuous that MVNOs have become integral vertical in leading companies worldwide. While cable companies are vying with one another to unlock its potential in fixed mobile convergence, some retailers are transiting into Virtual Network Operator market in a bid increase their profit margin. With companies and modern business models seeking to explore new avenues of cost-effective and customer-centric approach, Virtual Network Operator Market is sure to mark an escalation in terms of revenue streams. 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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