2025 was a defining year for the global MVNO industry—one marked by headline growth, sharp regional divergence, and uncomfortable truths about execution and regulation. While the market reached an estimated USD 87 billion, high-profile failures such as Thailand’s MVNO collapse exposed how weak enforcement and consolidation can erase entire competitive layers. At the same time, fintech-embedded mobile services, eSIM acceleration, and specialized MVNO models quietly gained momentum. This year-in-review cuts through the noise to examine the ten topics that truly shaped MVNO outcomes in 2025, revealing why success is driven less by market size and more by disciplined execution, enforceable policy, and clear strategic focus.
A Year in Review: Top 10 Topics of 2025
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