IoT MVNO : 시장 점유율 분석, 업계 동향과 통계, 성장 예측(2025-2030년)

According to Mordor Intelligence, the ioT MVNO market size reached USD 12.45 billion in 2025 and is projected to climb to USD 28.62 billion by 2030, translating into an 18.11% CAGR.

This report is Segmented by Operational Model (Full MVNO, Service-Provider MVNO, Reseller MVNO), Application Vertical (Automotive and Transport, Energy and Utilities, and More ), Connectivity Technology (2G/3G, 4G/LTE, 5G, and More), SIM Solution (Physical SIM, ESIM, ISIM), Enterprise Size (Large Enterprises, Small and Medium Enterprises), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global IoT MVNO Market Trends and Insights

Proliferation of LPWA (NB-IoT and LTE-M)

LPWA technologies enable battery-powered devices to operate for up to 10 years while remaining connected, and commercial NB-IoT/LTE-M networks now span over 100 countries. MVNOs aggregate this capacity across multiple operators, cutting device-level connectivity costs by up to 70% compared with traditional cellular alternatives. Cost efficiency accelerates adoption in environmental monitoring and asset-tracking, but lower entry barriers intensify rivalry, shifting competition toward service-quality metrics and global coverage breadth.

Expansion of eSIM/iSIM Deployments

The GSMA SGP.32 specification standardizes remote-SIM provisioning for IoT devices, eliminating physical-SIM handling and enabling multi-operator profile downloads. Industry forecasts show eSIM connections capturing 37% of cellular IoT endpoints by 2030, followed closely by iSIM at 34%. MVNOs gain the flexibility to switch networks on demand, optimize cost-performance trade-offs, and support truly global deployments without manual intervention, thereby commanding premium pricing for software-defined connectivity bundles.

Connectivity ARPU Erosion

Average revenue per IoT connection is slipping toward USD 1 per month, as illustrated by KORE Wireless' 19 million-connection portfolio. Commoditization pressures intensify where LPWA standards equalize technical capabilities and large enterprises negotiate steep volume discounts. MVNOs hedge margin risk by bundling device management, security, and analytics into tiered offerings that shift price competition toward value recognition rather than megabyte rates.

Other drivers and restraints analyzed in the detailed report include:

1. AI-Driven Network-Optimization Platforms
2. OEM Carbon-Reporting Compliance Needs
3. Permanent-Roaming Regulatory Barriers

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Full MVNOs captured 40.54% IoT MVNO market share in 2024, reflecting customer demand for granular traffic control, private APNs, and bespoke billing. Operators adopting this model negotiate direct wholesale rates across multiple networks, improving margin leverage and enabling differentiated service-level agreements. The IoT MVNO market size attributable to full MVNOs is projected to expand at 16.2% CAGR through 2030 as mission-critical deployments favor infrastructure ownership for long-term stability and regulatory compliance.

Reseller MVNOs record the fastest 20.15% CAGR by emphasizing quick service activation and zero infrastructure overhead. Enterprises adopting a cloud-first procurement mindset select reseller offers to avoid capital commitments, even though feature depth remains thinner. Competitive positioning therefore hinges on whether customers prioritize time-to-market and simplicity or bespoke functionality and margin control.

Automotive and transport maintained a 28.54% revenue lead in 2024, driven by mandatory eCall, usage-based-insurance telemetry, and over-the-air software delivery. Connected-car lifecycles exceed consumer device refresh rates, guaranteeing multi-year subscription revenues that anchor MVNO cash flows. Utilities, however, post a 22.32% CAGR as smart-meter rollouts, grid-edge sensor adoption, and renewable-energy balancing requirements multiply device counts, signaling new scale opportunities for the IoT MVNO market.

As industrial automation, healthcare remote monitoring, and smart-city projects mature, diversified vertical exposure becomes critical for revenue resilience. MVNOs with vertical-specific application programming interfaces, compliance credentials, and ecosystem partnerships deepen customer stickiness, protecting premium-pricing capacity even in commoditized bandwidth scenarios.

Complete Report Scope:

• By Operational Model
  • Full MVNO
  • Service-Provider MVNO
  • Reseller MVNO
• By Application Vertical
  • Automotive and Transport
  • Energy and Utilities
  • Industrial and Manufacturing
  • Healthcare
  • Smart Cities and Public Sector
  • Agriculture
• By Connectivity Technology
  • 2G / 3G
  • 4G / LTE
  • 5G
  • NB-IoT
  • LTE-M
  • Satellite IoT
• By SIM Solution
  • Physical SIM
  • eSIM
  • iSIM
• By Enterprise Size
  • Large Enterprises
  • Small and Medium Enterprises
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-East Asia
    • Rest of Asia-Pacific
  • Middle East and Africa
    • Middle East
      • GCC Countries
      • Turkey
      • Israel
      • Rest of Middle East
    • Africa
      • South Africa
      • Nigeria
      • Kenya
      • Rest of Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Geography Analysis

North America remained the largest regional contributor in 2024, claiming 38.54% IoT MVNO market share on the back of advanced 4G/5G rollouts, mandated wholesale access, and early adoption of connected-vehicle and healthcare-monitoring services. Private-5G pilots in manufacturing hubs and federal guidance on IoT cyber-labeling sustain demand for secure, slice-enabled connectivity.

Asia-Pacific is the fastest-growing region, set to contribute 270 million licensed cellular IoT connections by 2030, fuelled by government-backed smart-city projects, digital-manufacturing incentives, and accelerating 5G coverage. Regulatory diversity across India, China, and Southeast Asian nations necessitates localized compliance and multi-operator roaming strategies, but scale economics and urbanization trends outweigh complexity costs.

Europe sustains a sizeable installed base through stringent cybersecurity legislation and proactive network-slicing guidelines that reward MVNOs able to deliver vertically tuned service tiers. New EU cybersecurity obligations applicable from December 2024 elevate demand for secure-element-enabled modules and managed-connectivity bundles. Elsewhere, the Middle East and Africa gain momentum via smart-city and energy-digitization projects, while South America increasingly embraces precision-agriculture use cases requiring dual satellite-cellular coverage to overcome rural connectivity gaps.

1. KORE Wireless Group Holdings Inc.
2. Aeris Communications Inc.
3. 1NCE GmbH & Co. KG
4. Wireless Logic Ltd.
5. Cubic Telecom Ltd.
6. Soracom Inc.
7. BICS SA/NV
8. Eseye Ltd.
9. Transatel SA
10. Twilio Inc.
11. Truphone Ltd.
12. Things Mobile S.r.l.
13. Hologram Inc.
14. Onomondo ApS
15. iBASIS Inc.
16. Com4 AS
17. Telit Cinterion SpA
18. Skylo Technologies Inc.
19. Monogoto Ltd.
20. Tata Communications Transformation Services Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Proliferation of LPWA (NB-IoT and LTE-M)
  • 4.2.2 Expansion of eSIM/iSIM deployments
  • 4.2.3 AI-driven network optimisation platforms
  • 4.2.4 OEM carbon-reporting compliance needs
  • 4.2.5 5G network-slicing mandates for MVNOs
  • 4.2.6 Connected-vehicle programme expansion
• 4.3 Market Restraints
  • 4.3.1 Connectivity ARPU erosion
  • 4.3.2 Permanent-roaming regulatory barriers
  • 4.3.3 Limited MVNO access to private-5G spectrum
  • 4.3.4 Escalating IoT-SAFE / security-certification costs
• 4.4 Supply-Chain Analysis
• 4.5 Technological Outlook
• 4.6 Regulatory Landscape
• 4.7 Porter's Five Forces Analysis
  • 4.7.1 Threat of New Entrants
  • 4.7.2 Bargaining Power of Suppliers
  • 4.7.3 Bargaining Power of Buyers
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Intra-Industry Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Operational Model
  • 5.1.1 Full MVNO
  • 5.1.2 Service-Provider MVNO
  • 5.1.3 Reseller MVNO
• 5.2 By Application Vertical
  • 5.2.1 Automotive and Transport
  • 5.2.2 Energy and Utilities
  • 5.2.3 Industrial and Manufacturing
  • 5.2.4 Healthcare
  • 5.2.5 Smart Cities and Public Sector
  • 5.2.6 Agriculture
• 5.3 By Connectivity Technology
  • 5.3.1 2G / 3G
  • 5.3.2 4G / LTE
  • 5.3.3 5G
  • 5.3.4 NB-IoT
  • 5.3.5 LTE-M
  • 5.3.6 Satellite IoT
• 5.4 By SIM Solution
  • 5.4.1 Physical SIM
  • 5.4.2 eSIM
  • 5.4.3 iSIM
• 5.5 By Enterprise Size
  • 5.5.1 Large Enterprises
  • 5.5.2 Small and Medium Enterprises
• 5.6 By Geography
  • 5.6.1 North America
    • 5.6.1.1 United States
    • 5.6.1.2 Canada
    • 5.6.1.3 Mexico
  • 5.6.2 Europe
    • 5.6.2.1 Germany
    • 5.6.2.2 United Kingdom
    • 5.6.2.3 France
    • 5.6.2.4 Italy
    • 5.6.2.5 Spain
    • 5.6.2.6 Russia
    • 5.6.2.7 Rest of Europe
  • 5.6.3 Asia-Pacific
    • 5.6.3.1 China
    • 5.6.3.2 Japan
    • 5.6.3.3 India
    • 5.6.3.4 South Korea
    • 5.6.3.5 South-East Asia
    • 5.6.3.6 Rest of Asia-Pacific
  • 5.6.4 Middle East and Africa
    • 5.6.4.1 Middle East
      • 5.6.4.1.1 GCC Countries
      • 5.6.4.1.2 Turkey
      • 5.6.4.1.3 Israel
      • 5.6.4.1.4 Rest of Middle East
    • 5.6.4.2 Africa
      • 5.6.4.2.1 South Africa
      • 5.6.4.2.2 Nigeria
      • 5.6.4.2.3 Kenya
      • 5.6.4.2.4 Rest of Africa
  • 5.6.5 South America
    • 5.6.5.1 Brazil
    • 5.6.5.2 Argentina
    • 5.6.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles {(includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)}
  • 6.4.1 KORE Wireless Group Holdings Inc.
  • 6.4.2 Aeris Communications Inc.
  • 6.4.3 1NCE GmbH & Co. KG
  • 6.4.4 Wireless Logic Ltd.
  • 6.4.5 Cubic Telecom Ltd.
  • 6.4.6 Soracom Inc.
  • 6.4.7 BICS SA/NV
  • 6.4.8 Eseye Ltd.
  • 6.4.9 Transatel SA
  • 6.4.10 Twilio Inc.
  • 6.4.11 Truphone Ltd.
  • 6.4.12 Things Mobile S.r.l.
  • 6.4.13 Hologram Inc.
  • 6.4.14 Onomondo ApS
  • 6.4.15 iBASIS Inc.
  • 6.4.16 Com4 AS
  • 6.4.17 Telit Cinterion SpA
  • 6.4.18 Skylo Technologies Inc.
  • 6.4.19 Monogoto Ltd.
  • 6.4.20 Tata Communications Transformation Services Ltd.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-space and Unmet-Need Assessment