Singapore MVNO Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 472.23 Million |
| Market Size (2029) | USD 645.80 Million |
| CAGR (2024 - 2029) | 6.46 % |
| Market Concentration | Low |
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*Disclaimer: Major Players sorted in no particular order |
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Singapore MVNO Market Analysis
The Singapore Mobile Virtual Network Operator Market size is estimated at USD 472.23 million in 2024, and is expected to reach USD 645.80 million by 2029, growing at a CAGR of 6.46% during the forecast period (2024-2029).
Market Overview
The demand for low-cost data and voice services in the consumer and business sectors is fueling the MVNO market expansion due to the MVNOs' ability to offer low-cost telecom plans through their leased network infrastructure, driving the market growth in Singapore.
• The country has become a business and tourism destination supported by its infrastructural development, which has raised the number of travelers and students coming to the government, increasing the demand for the MVNO based mobile plans due to their no-contract timeline feature in the telecom offerings, supporting the market’s growth.
• Additionally, the emergence of small businesses in the country, which is in line with the growth of the digital economy in Singapore, has increased the demand for economically priced SIM-only plans. This has been creating an opportunity for the Singapore-based MVNOs, supported by their lease capacity from traditional telecom providers such as Singtel, Starhub, M1, and TPG, among others, to offer lower-priced telecom services to customers with their brand name, showing the demand growth trend of the market in the country.
• The flexibility of the MVNOs in offering their telecom services without owning their telecom network infrastructure enables the MVNOs in Singapore, including Circles. Life, giga!, Grid Mobile, and Zero Mobile to design their plans for targeted niche customer segments and to offer customizable plans, high-speed data rollover, or rewards programs without a locking period, supporting their plans' market adoptions in the country during the forecast period.
• Moreover, the country has been witnessing significant growth in the digitalization trend in the businesses, public, private, government, and consumer segments, supporting its development of the digital economy, raising the demand for telecom services in the country, which is creating an opportunity for the MVNO market in Singapore during the forecast period.
• Inefficient billing systems are a major challenge for mobile virtual network operators, which impact their billing operations and overall business performance. These systems' complexity and outdated nature can lead to billing errors, delays, or incorrect customer information, leading to frustration and hindering the expansion of mobile virtual network operators.
Singapore MVNO Market Trends
Voice to be the Largest Service Type
- The growth of interdepartmental communications in business organizations and the increasing importance of customer services as a differentiation strategy in all businesses are increasing the demand for voice services in Singapore due to their applications calling, fax connectivity, business fixed line connectivity for calling, interactive voice response, supporting the demand of voice-based offerings of the MVNOs in Singapore in the future.
- The country has been registering significant growth in the commercial infrastructures supported by the expansion of global companies in the healthcare, BFSIs, and other sectors by constructing their office locations in the country, which may fuel the requirement for voice-based telecom services in the office premises and is expected to fuel the market’s growth of MVNOs in Singapore.
- Additionally, the telecommunication companies in the Singapore market are offering voice-based plans to offer unlimited local calls with value-added services such as call logs, call forwarding, call transfer, call waiting, 2-digital speed dial, automatic callback, three-way conference, internal team messaging, supporting their growth adoptions in the telecom market and becoming a competitive strategy for growth in market share, which may fuel the market’s growth of voice telecom services in the Singapore MVNO market.
- The country has registered many fixed line connections in the corporate, businesses, and residential segments in the last two quarters of 2023 (From July to Dec 2023). The Infocomm Media Development Authority (IMDA) of Singapore has published that Total Residential Line Subscriptions and Total Corporate/Business Line Subscriptions from July to Sep were 1,198,200 and 743,000, respectively.
- Additionally, the number was 1,193,300 and 718,800 from October to December for 2023, showing the high market potential of voice services through fixed lines in the country. However, the number of people in the country can be impacted by the emergence of VoIP(Voice over Internet Protocols) and video calling services.
- Therefore, the growth of office premises in the country and the market potential of existing fixed-line services in the residential and business segments are creating an opportunity for Singaporean MVNOs to offer voice services to support the overall MVNO market during the forecast period.
Data Segment to Witness Major Growth
- The country’s emerging economy, supported by the growth of digital technology integrations in the business segment, the enhancement of online service, digital payments, and the usage of connected devices, has raised the demand for high-speed internet, driving the market demand for telecom data services, supporting the growth of MVNOs in the country. According to Speedtest, Singapore had the fastest fixed broadband internet speed globally, with an average of 278 Mbps as of January 2024.
- Moreover, the demand for low-cost and high-speed data in the consumer segments due to the increasing competition in the Singapore telecom industry is creating an opportunity for MVNOs due to their capability to offer customizable, low-cost, and high-speed data services by using reliable telecom networks from the infrastructure providers, supporting the growth of data services in the MVNO market of the country.
- Additionally, the customized data plan and marketing campaign developed by the MVNOs in the country, including Giga by Singtel and Gomo, among others, to attract new customers to use their data plans, are supporting the growth of Data services in the country’s MVNO market during the forecast period.
- The growth of connected devices, household usage of the internet for entertainment and smart home solutions, and the increasing usage of computer systems in the enterprise are raising the demand for the internet in the country, which may support the growth of data services of MVNOs in Singapore.
Singapore MVNO Industry Overview
Singapore's mobile virtual network operator (MVNO) market is fragmented due to the process of small and large players, while some of the players include MyRepublic Limited, Circles.Life, CMLink, Changi Travel Services Pte Ltd (Changi Mobile), redONE Pte Ltd.
• In November 2023, Zero1 responded by introducing the Z-one 4G plan after initially lagging. The Z-One 4G plan offered an incredible 100GB of data at SGD10 per month, and this offer remained in place for a period of time with the added benefits of free roaming. This was not all; by offering free 5G connectivity for the first three months, the company made this offer even more enticing.
•In May 2023, RedONE, a telecommunications provider in Singapore, announced the launch of its revolutionary Super Plans, marking a significant milestone in the company's mission to provide unmatched mobile connectivity and value to its customers. RedONE continues to set the pace by offering a complete range of telecommunications services designed for different user needs through its Super Plans, which continue to be at the forefront of an increasingly complex and fast-changing telecommunications landscape.
Singapore MVNO Market Leaders
Myrepublic Limited
Circles.Life
CMLink
Changi Travel Services Pte Ltd (Changi Mobile)
redONE Pte Ltd
*Disclaimer: Major Players sorted in no particular order
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Singapore MVNO Market News
- December 2023 - Singapore, giga made a splash in town with its fourth-anniversary campaign, "Feeling Good," where customers could give out new mobile lines to family and friends for just SGD 1. Additionally, the company planned to offer free data on rainy days, fuel customer data consumption, and adoption of Giga's services in the country.
- November 2023 - To help resolve customers questions who still have unused cellular data, GOMO, a subsidiary of Singtel's communications technology group, launched an advertising campaign for its new Databank. Done in partnership with Publicis Groupe Singapore, Singtel aimed to utilize a social-first approach, emphasizing social media to foster community engagement and brand affinity to be educated on real-world scenarios of data wastage.
Singapore MVNO Market Report - 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. SINGAPORE MVNO MARKET
4.1 Market Overview (covering Underlying Growth Trends)
4.2 Regulatory Landscape Related to MVNO in the Country
4.3 Insights on Key Metrics Related to the Market (Includes ARPU, Internet Penetration, Smartphone Penetration, 5G Usage, Broadband Users, etc.)
5. MARKET SEGMENTATION
5.1 Overall Singapore Mvno Market Size Estimates and Forecasts
5.1.1 By Service Type
5.1.1.1 Voice
5.1.1.2 Data
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis for Major Ten Vendors For 2023
6.2 Company Profiles - Details of the Major 10 MVNOs in the Country
6.2.1 Myrepublic Limited
6.2.2 Circles.Life
6.2.3 CMLink
6.2.4 Changi Travel Services Pte Ltd (Changi Mobile)
6.2.5 redONE Pte Ltd
6.2.6 Zero1 Pte Ltd
6.2.7 Vivifi
6.2.8 GOMO
6.2.9 StarHub Limited (Giga)
6.2.10 Geenet Pte Ltd
7. FUTURE OUTLOOK OF THE MARKET
Singapore MVNO Industry Segmentation
A mobile virtual network operator is a wireless communications service provider that does not own the infrastructure for providing services to its clients.
The Singapore mobile virtual network operator (MVNO) market is segmented by service type (voice, data). The market size and forecasts are provided in terms of value (USD) for all the above segments.
| Overall Singapore Mvno Market Size Estimates and Forecasts | ||||
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Singapore MVNO Market Research FAQs
How big is the Singapore MVNO Market?
The Singapore MVNO Market size is expected to reach USD 472.23 million in 2024 and grow at a CAGR of 6.46% to reach USD 645.80 million by 2029.
What is the current Singapore MVNO Market size?
In 2024, the Singapore MVNO Market size is expected to reach USD 472.23 million.
Who are the key players in Singapore MVNO Market?
Myrepublic Limited, Circles.Life, CMLink, Changi Travel Services Pte Ltd (Changi Mobile) and redONE Pte Ltd are the major companies operating in the Singapore MVNO Market.
What years does this Singapore MVNO Market cover, and what was the market size in 2023?
In 2023, the Singapore MVNO Market size was estimated at USD 441.72 million. The report covers the Singapore MVNO Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Singapore MVNO Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Singapore MVNO Industry Report
Statistics for the 2024 Singapore MVNO market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Singapore MVNO analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
