IoT MVNO Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, By Operational Model (Reseller, Service Operator, Full MVNO), By Subscriber (Consumer, Enterprise), By Industry (Manufacturing, Transportation and Logistics, Healthcare, Retail, Energy and Utility, Agriculture, Others), By Region, By Competition 2020-2030F

Market Overview

The Global IoT MVNO Market was valued at USD 3.13 Billion in 2024 and is expected to reach USD 8.95 Billion by 2030 with a CAGR of 19.14% through 2030. The Global IoT MVNO Market refers to the ecosystem of mobile virtual network operators that provide cellular connectivity solutions tailored specifically for Internet of Things applications.

Unlike traditional mobile virtual network operators serving voice or general mobile data users, operators in the Global IoT MVNO Market offer customized, scalable connectivity designed to support machine-to-machine communication across diverse verticals. These include automotive, healthcare, logistics, agriculture, energy, and smart cities. Their services are optimized for low power consumption, long device lifecycles, and widespread coverage across regions and borders, enabling seamless IoT device deployment.

The growth of the Global IoT MVNO Market is being driven by several key factors. One of the most important is the exponential increase in the number of connected devices globally. As companies embrace digital transformation and Industry 4.0 strategies, there is a rising need for secure, reliable, and low-latency communication networks. IoT-specific mobile virtual network operators enable enterprises to manage large-scale IoT deployments without the high costs or complexities of building proprietary infrastructure. Additionally, flexible pricing models, real-time network analytics, remote device management, and multi-network roaming capabilities make IoT mobile virtual network operators an attractive choice for global businesses.

The Global IoT MVNO Market is poised for significant expansion as 5G, eSIM technology, and private cellular networks become more prevalent. These technologies will allow IoT mobile virtual network operators to deliver faster, more resilient, and scalable connectivity solutions across smart manufacturing, telematics, precision agriculture, and connected healthcare. Moreover, regulatory support for spectrum liberalization and cross-border roaming is making it easier for operators to expand globally. As enterprises increasingly require customized connectivity for mission-critical applications, the Global IoT MVNO Market will continue to evolve and grow, playing a vital role in the broader Internet of Things ecosystem.

Key Market Drivers

Explosive Growth in IoT Device Volume

Enterprises and consumers alike are connecting a rapidly increasing number of devices—from industrial sensors to smart wearable gadgets. This explosion in device count is fueling demand for tailored cellular connectivity solutions that can handle volume efficiently. IoT MVNOs offer flexible scalability, providing network connectivity that can be dynamically expanded without the infrastructure burdens of traditional carriers.

With IoT proliferation, companies prefer single-provider solutions with global reach, real-time device management, and secure data channels. IoT MVNOs meet these demands through embedded SIMs, multi-operator roaming, and centralized dashboards. By reducing complexity and ensuring connectivity resilience, they streamline global deployments, driving market momentum across verticals like logistics, utilities, and smart cities. In 2024, the global number of connected IoT devices surpassed 28 billion, nearly doubling from 15 billion in 2019. This rapid expansion reflects the widespread integration of smart technologies across industries, pushing organizations to seek reliable, scalable cellular connectivity through IoT mobile virtual network operators for seamless, cost-effective, and global device management.

Demand for Cost-Effective Connectivity Models

Traditional mobile network operator contracts are often rigid and expensive for IoT use cases that require minimal data transfer. IoT MVNOs introduce flexible, pay-as-you-go models tailored to minimal data usage, device standby, or infrequent transmission—ideal for sensors and telemetry devices.

These cost-efficient models enable companies to deploy large-scale IoT solutions without excessive overhead. Tiered pricing, volume discounts, and international coverage reduce per-device costs significantly. This shift from traditional connectivity models to usage-aligned billing is making IoT MVNOs increasingly attractive, especially for startups, mid-market firms, and global asset trackers. A fleet management company reduced its operational connectivity costs by more than 60 percent after switching to IoT mobile virtual network operator-based services. This enabled the deployment of 10,000 asset trackers under the same budget previously allocated for 4,000 devices, proving the financial advantage and operational scalability of IoT-optimized cellular network plans.

Expansion of Multi-Network Roaming and Global Coverage

Many IoT use cases, such as logistics or automotive telematics, require devices to traverse geographic boundaries. IoT MVNOs offer seamless roaming across multiple mobile networks without the complexity of local SIM swaps. These multi-MNO agreements ensure that devices maintain connectivity whether crossing borders or moving between rural and urban zones.

This universal coverage removes deployment friction and approval delays, enabling faster rollouts. It also simplifies logistics by eliminating the need to provision local SIMs per country. As global manufacturers and service providers scale deployments, the convenience of borderless connectivity becomes a key market driver. By mid-2025, more than 45 percent of global IoT mobile virtual network operator deployments included multi-network roaming capabilities, up significantly from just 18 percent in 2020. This shift demonstrates growing enterprise demand for borderless, always-on connectivity, especially for sectors like logistics and transportation, where uninterrupted service across regions is mission-critical.

Rising Importance of Network Security and Compliance

Security concerns are paramount in IoT deployments managing critical assets such as medical devices or energy grids. IoT MVNOs are increasingly differentiating themselves By Operational Model built-in security features like network-level encryption, private APNs, eSIM remote provisioning, and anomaly detection.

Regulatory environments such as GDPR, HIPAA, and NIS2 require operators to ensure data privacy, secure authentication, and encrypted transmission. IoT MVNOs provide these through certified platforms and compliance-focused connectivity models, meeting enterprise and government security mandates while enabling rapid and secure deployment. A 2024 enterprise survey showed that 72 percent of organizations prioritized network-level security and regulatory compliance when choosing an IoT connectivity provider—up from 50 percent in 2020. This sharp rise highlights how businesses are aligning connectivity strategies with regulatory standards like GDPR, emphasizing IoT mobile virtual network operators offering secure, compliant, and resilient solutions.

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Key Market Challenges

Complex and Fragmented Regulatory Landscape

The Global IoT MVNO Market faces a significant challenge in navigating the highly complex and fragmented regulatory environments across various regions. Since IoT devices are often deployed across borders, they are subject to differing telecom regulations, data sovereignty laws, SIM registration requirements, and import/export controls. These inconsistencies create a complicated operating landscape for IoT mobile virtual network operators trying to offer seamless international coverage. For example, while one country may permit remote SIM provisioning and open access to mobile networks, another may require local licensing, data localization, or registration of each SIM card individually. As a result, IoT mobile virtual network operators are often forced to form local partnerships or establish subsidiaries, which increases operational costs and slows time-to-market.

Many governments are still evolving their regulatory frameworks to accommodate the rapid expansion of IoT. Emerging rules on network security, lawful interception, and data retention are being applied inconsistently or lack clarity altogether. IoT mobile virtual network operators must constantly monitor changes and adapt their offerings, often requiring investments in legal counsel, compliance systems, and local technical support teams. This not only limits the agility of smaller operators but also discourages innovation. For large-scale enterprise clients seeking global deployment with unified connectivity, the regulatory fragmentation undermines the core value proposition of IoT mobile virtual network operators: seamless, simplified connectivity across borders. Until governments harmonize standards or establish more MVNO-friendly policies, this regulatory patchwork will remain a considerable operational and strategic hurdle for market players.

Difficulty in Achieving Sustainable Profitability

Despite rapid market growth and rising demand, many IoT mobile virtual network operators struggle with achieving sustainable profitability. The business model for IoT connectivity differs significantly from traditional consumer mobile services. Unlike smartphones, most IoT devices use low data volumes and operate intermittently, leading to minimal average revenue per device. When combined with the operational costs of managing tens or hundreds of thousands of connections—including billing, customer service, compliance, and network access fees—many operators find their margins squeezed. Furthermore, enterprises increasingly expect value-added services like real-time analytics, remote diagnostics, and device lifecycle management as part of their connectivity packages, adding cost pressure without directly contributing to per-device revenue.

The competitive landscape of the Global IoT MVNO Market is intensifying. As more operators enter the space, price competition becomes severe, with some providers offering razor-thin margins to gain market share. While this benefits customers in the short term, it drives down profitability across the industry. Sustaining such models requires high-scale operations, robust automation, and diversified service portfolios—capabilities many newer or region-specific operators may not yet possess. Without reaching a critical mass of active devices and achieving economies of scale, it becomes difficult to balance service quality, regulatory compliance, and operational overhead. As IoT applications diversify and demand becomes more fragmented across industries, many operators will need to reassess their strategies, invest in differentiation, or risk consolidation or exit. This challenge of profitability, while less visible than technological innovation or device growth, is a fundamental obstacle that could limit the long-term viability of many players in the Global IoT MVNO Market.

Key Market Trends

Transition Toward Embedded SIM (eSIM) and Remote Provisioning

One of the most transformative trends in the Global IoT MVNO Market is the shift toward embedded SIM (eSIM) technology, coupled with remote SIM provisioning. Traditional physical SIM cards create logistical and operational inefficiencies for large-scale IoT deployments, especially across geographies. eSIM enables devices to be provisioned and reprogrammed over the air, allowing IoT mobile virtual network operators to offer dynamic connectivity without manual intervention. This development is a game-changer for industries like automotive, logistics, and healthcare that require scalable, flexible, and low-touch connectivity management across thousands of devices.

eSIM adoption also allows enterprises to switch operators remotely, increasing competition and driving MVNOs to improve service quality and pricing. In this environment, IoT MVNOs are investing heavily in cloud-based platforms and device management systems that support seamless eSIM provisioning, monitoring, and remote troubleshooting. The combination of eSIM and MVNO flexibility is unlocking new levels of automation and efficiency, enabling companies to maintain full control over connectivity across global device fleets. As device manufacturers increasingly adopt eSIM as a standard feature, IoT MVNOs that integrate eSIM infrastructure early are expected to lead the market in adaptability and operational excellence.

Integration of AI-Driven Network and Device Management

Artificial intelligence is playing an increasingly vital role in the operations of IoT MVNOs, particularly in automating network diagnostics, optimizing data usage, and detecting anomalies across connected devices. AI-powered platforms allow MVNOs to analyze vast volumes of real-time network traffic and device behavior, enabling predictive maintenance, automated fault resolution, and dynamic bandwidth allocation. This not only enhances customer experience but also reduces operational costs by minimizing manual interventions.

Additionally, AI tools support proactive cybersecurity monitoring, identifying unusual patterns that could indicate breaches or tampering in IoT systems. For example, AI can detect when a device is suddenly transmitting excessive data or connecting to unauthorized endpoints, allowing the MVNO to block threats in real-time. In a market where uptime, security, and performance are paramount, AI integration is becoming a key differentiator. As IoT ecosystems grow more complex, AI-driven management tools will become essential for MVNOs to maintain service quality, scalability, and competitive edge in an increasingly dynamic connectivity landscape.

Growing Emphasis on Sustainable and Energy-Efficient Connectivity

Sustainability is emerging as a major trend in the Global IoT MVNO Market, with enterprises increasingly prioritizing energy-efficient device connectivity. As billions of IoT devices connect to networks, power consumption becomes a major operational and environmental concern. IoT MVNOs are responding By Operational Model low-power communication technologies such as NB-IoT and LTE-M, which are optimized for long battery life and minimal energy use.

Beyond technical connectivity, MVNOs are also positioning themselves as partners in clients’ sustainability initiatives. This includes offering dashboards that track energy consumption across devices, recommending usage adjustments, and aligning connectivity plans with broader environmental, social, and governance (ESG) goals. In some sectors, such as utilities or environmental monitoring, energy efficiency is not just desirable but mission-critical. MVNOs that prioritize sustainable infrastructure, carbon-conscious operations, and energy optimization tools will increasingly be seen as enablers of green IoT. As global regulatory and investor focus on sustainability grows, MVNOs aligned with this vision will find new growth opportunities and competitive advantages.

Segmental Insights

Operational Model Insights

In 2024, the Full MVNO segment emerged as the dominant operational model in the Global IoT MVNO Market and is projected to maintain its lead throughout the forecast period. A Full Mobile Virtual Network Operator controls most network elements, including core network infrastructure, SIM management, billing systems, and value-added services. This level of control allows these operators to offer highly customized, scalable, and secure solutions to enterprise customers that require reliability, regulatory compliance, and performance guarantees for their IoT deployments. Full MVNOs are increasingly preferred by industries such as automotive, healthcare, logistics, and smart manufacturing due to their ability to ensure data sovereignty, control over routing, and compatibility with eSIM and multi-network connectivity.

Compared to Reseller or Service Operator models, Full MVNOs are better positioned to deliver end-to-end IoT services, from device provisioning to data traffic management and analytics. Their independence from host network operators allows them to innovate faster and offer flexible pricing models tailored to industry-specific use cases. For instance, enterprises with mission-critical IoT systems, such as connected medical devices or autonomous vehicles, demand highly secure and controlled connectivity environments — capabilities typically offered only by Full MVNOs. Furthermore, the integration of advanced technologies like artificial intelligence, private LTE, and 5G core capabilities is easier for Full MVNOs that own and manage their core networks.

The growth of global IoT deployments, particularly across smart cities and cross-border logistics, has accelerated demand for operators that can ensure consistent service across geographies. Full MVNOs are increasingly forming partnerships with multiple host networks to offer resilient, multi-country IoT coverage with real-time control. As enterprises grow more sophisticated in their IoT connectivity needs, the Full MVNO model continues to prove its strategic value by balancing independence, technical capability, and customer-centric service delivery. This trend is expected to persist as digital transformation deepens across verticals.

Subscriber Insights

In 2024, the Enterprise segment dominated the Global IoT MVNO Market and is expected to maintain its dominance during the forecast period. This dominance is driven by the rising adoption of Internet of Things solutions across sectors such as logistics, automotive, manufacturing, healthcare, utilities, and smart cities, all of which require secure, scalable, and customized connectivity services. Enterprises increasingly rely on IoT mobile virtual network operators to manage vast numbers of connected devices across geographies, ensure network performance, and meet data compliance regulations. Unlike consumers, enterprises demand value-added services such as analytics, remote monitoring, and SIM lifecycle management, which align closely with the capabilities of specialized MVNOs. This growing demand positions the enterprise segment for sustained leadership in the market.

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Regional Insights

Largest Region

In 2024, North America firmly established itself as the leading region in the Global IoT MVNO Market, driven by its strong digital infrastructure, high IoT adoption rates across industries, and supportive regulatory frameworks. The presence of major technology companies and mobile network providers has fostered a competitive yet collaborative ecosystem where IoT mobile virtual network operators can scale efficiently. Key sectors such as smart manufacturing, automotive telematics, connected healthcare, and logistics heavily rely on reliable, scalable IoT connectivity solutions — all of which have been significantly supported by the rapid expansion of 5G and low-power wide-area networks in the region.

The United States, in particular, leads due to its large enterprise base, aggressive digital transformation strategies, and early adoption of advanced IoT technologies. Canada is also showing strong momentum, especially in energy, agriculture, and smart city initiatives. Furthermore, North American MVNOs benefit from favorable data privacy and telecom regulations that promote innovation while maintaining security and compliance. As enterprises in the region continue to integrate IoT into their core operations, North America's dominance is expected to continue, fueled by growing investments in edge computing, AI, and next-generation network management platforms.

Emerging Region

In 2024, South America rapidly emerged as a high-potential growth region in the Global IoT MVNO Market, driven by increasing digitalization, expanding mobile infrastructure, and growing demand for cost-effective IoT connectivity solutions across industries. Countries like Brazil, Argentina, and Colombia witnessed accelerated adoption of Internet of Things applications in agriculture, transportation, and energy management, creating strong opportunities for IoT mobile virtual network operators. The region’s large rural and semi-urban populations, combined with rising investments in smart city and public utility projects, boosted the demand for flexible, scalable connectivity. Additionally, partnerships between local telecom providers and global MVNOs helped enhance network reach and service reliability, positioning South America as a strategic growth hub for IoT connectivity expansion.

Recent Developments

• In June 2025, KORE Group Holdings announced a major milestone—20 million total IoT connections—solidifying its position as a global IoT hyperscaler and leading connectivity provider. This achievement reflects customer trust, operational scale, and a strong focus on innovation. With over 20 years of experience, KORE continues to empower businesses with secure, scalable IoT solutions and analytics, while expanding global capabilities to support the rapidly growing demands of the connected future.
• In December 2024, eSIM Go announced a partnership with Vodafone UK, enabling organizations of all sizes to become MVNOs using Vodafone’s award-winning network. Through eSIM Go’s platform, businesses across sectors can offer seamless mobile connectivity as a service or add-on via their websites or apps. With over 300 MVNO partners already onboard, this collaboration enhances consumer choice and lowers barriers to entry in the UK telecom sector.
• In February 2024, Verizon and KDDI announced a collaboration to deliver advanced connected car capabilities for AFEELA, the first mass-production EV from Sony Honda Mobility. Leveraging Verizon’s 5G/4G LTE networks and KDDI’s Global Communications Platform, the partnership will enable seamless vehicle connectivity and mobility features. Scheduled for a 2025 launch, AFEELA aims to redefine mobility as an intelligent, interactive experience, blending premium hardware with AI-driven services and entertainment.

Key Market Players

• KORE Wireless Group, Inc.
• Sierra Wireless, Inc.
• Twilio Inc.
• Aeris Communications, Inc.
• Transatel SA
• Wireless Logic Group Ltd.
• Truphone Limited
• EMnify GmbH

Report Scope:

In this report, the Global IoT MVNO Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• IoT MVNO Market, By Operational Model:

o   Reseller

o   Service Operator

o   Full MVNO    

• IoT MVNO Market, By Subscriber:

o   Consumer

o   Enterprise

• IoT MVNO Market, By Industry:

o   Manufacturing

o   Transportation and Logistics

o   Healthcare

o   Retail

o   Energy and Utility

o   Agriculture

o   Others

• IoT MVNO Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  France

§  United Kingdom

§  Italy

§  Spain

o   Asia Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   Middle East & Africa

§  Saudi Arabia

§  UAE

§  South Africa

o   South America

§  Brazil

§  Colombia

§  Argentina

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global IoT MVNO Market.

Available Customizations:

Global IoT MVNO Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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