The market for connecting devices to the internet through mobile networks, known as the Internet of Things (IoT) Mobile Virtual Network Operator (MVNO) market, is experiencing rapid growth. These companies specialize in providing services tailored for IoT devices, like SIM cards and data plans. A report published by SNS Insider reveals that the IoT MVNO market was at USD 2.6 billion in 2022 and it is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.5% by 2030.
The expansion is basically due to the important role that MVNO play in the IoT ecosystem. By leveraging existing infrastructure, the IoT MVNO eliminates the need for businesses to invest in their own network infrastructure. This leads to significant cost savings. Moreover, the IoT MVNO offers greater flexibility than traditional MNOs. This allows businesses to tailor connectivity plans to the unique requirements of their specific IoT devices and applications.
As more gadgets connect to the internet, we need good and cheap ways to keep them linked, and that’s where IoT MVNOs help out. But, some folks are worried about security and costs, which might make the market grow slower.
Big companies in the IoT MVNO market are KDDI, KORE Wireless, Sierra Wireless, Twilio, Asahi Net, Telit, BICS, Lycamobile, Wireless Logic, and Truphone. They offer different services to help businesses connect their devices to the internet.
There are different types of IoT MVNOs. One kind, called Service Operators, handles everything for the customer, like setting up the service and billing. Another important group is the Enterprise market, where businesses need flexible and scalable ways to stay connected.
