Global Mobile Number Portability Market Report 2024: Trends, Strategies, And Opportunities

LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The global mobile number portability market is projected to grow from $2.04 billion in 2023 to $2.14 billion in 2024, at a compound annual growth rate (CAGR) of 5.3%. This growth can be attributed to factors such as regulatory developments, improved network coverage, and increased customer satisfaction. Despite challenges, the market is expected to reach $2.66 billion by 2028 at a compound annual growth rate (CAGR) of 5.5%, driven by the growing demand for seamless switching, the emergence of virtual mobile network operators, and a high churn rate among prepaid subscribers.

Growing Mobile Subscriber Base Drives Market Growth
The increasing number of mobile subscribers is a key factor driving the growth of the mobile number portability market. Improved network infrastructure, the widespread adoption of smartphones, and high-speed networks are contributing to this rise. Mobile number portability encourages service providers to enhance their quality of service and network coverage to retain existing customers and attract new ones. For instance, Vietnam's mobile subscriber base grew from 91.3 million in 2021 to 93.5 million by March 2022, highlighting the impact of a growing subscriber base on market expansion.

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Key Players and Market Trends
Major players in the mobile number portability market include Verizon Communications Inc., AT&T Inc., T-Mobile Inc., Orange SA, Vodafone Group Plc, Telefónica SA, and others. These companies are focusing on innovative strategies like bundled mobile plans to retain customers and improve service offerings. For example, Telstra Group Limited introduced a new bundled mobile plan in August 2022, offering cost-effective mobile and data services to families, allowing users to connect up to five additional devices on a single plan.

Trends Shaping the Market
Key trends expected to shape the mobile number portability market include the introduction of IP-based networks, session initiation protocol (SIP), and the growing demand for cloud-based MNP solutions. Additionally, investments in back-end services and ongoing product innovation will play a crucial role in market growth.

Segments:
• Technology Type: Short Message Service (SMS), Unstructured Supplementary Service Data (USSD), Signal Transfer Point (STP), Session Initiation Protocol (SIP)
• Transmission: Wireline, Wireless
• End User: Individual Consumers, Small And Medium-Sized Enterprises (SMEs), Large Enterprises

Geographical Insights: North America Leading the Market
North America was the largest region in the mobile number portability market in 2023 and is expected to be the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Mobile Number Portability Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Mobile Number Portability Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on mobile number portability market size, mobile number portability market drivers and trends, mobile number portability market major players, competitors' revenues, market positioning, and market growth across geographies. The mobile number portability market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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