According to a new market research report published by Transparency Market Research entitled “Prepaid Wireless Service Market: Type (Data, Voice); Connectivity (2G, 3G, 4G) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,”the global prepaid wireless service market is expected to reach US$ 659.1 Bn by 2026. The market value is anticipated to expand at a CAGR of 4.3% during the forecast period from 2018 to 2026.The market is expected to grow largely due to shift of consumer preference from postpaid to prepaid services, largely in the regions of North America and Europe.
Geographically, the global prepaid wireless service market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific dominates the market with a share of more than 50% in 2017, followed by Europe with approximately 20% share. The dominating share in Asia Pacific is primarily due to tremendous growth in the adoption of smartphones among both millennial and older population. In Asia Pacific, key countries contributing to the prepaid wireless service growth are China, India, Japan, and Indonesia.
Asia Pacific has the largest subscriber base for prepaid wireless service in the world. The region has the largest population in the world which therefore makes it the largest market for prepaid wireless service. These countries have an active base of smartphone users across all age groups. Moreover, the market for prepaid wireless service is increasing due to continuous demand for affordable and flexible data and voice plans.
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In 2017, Asia Pacific was evaluated as the largest market for prepaid wireless service. India, China, Indonesia, and Japan are particularly attractive markets for prepaid wireless service. However, Rest of Asia Pacific is expected to expand at the highest CAGR during the forecast period, 2018-2026. In the region, a large portion of the population prefers prepaid wireless service over postpaid, the reason being affordability and flexibility to switch network operators easily.
In Europe, some of the key countries contributing to the growth of the prepaid wireless service market are Germany, France, and Italy. The market for prepaid wireless in Europe is largely driven by offerings of MVNOs. MVNOs, over the last couple of years have become quite significant in terms of their operation. Some of the well-known MVNOs operating in the market have been providing attractive voice and video plans to the subscriber base, thereby adding to the growth of the market.
Globally, the prepaid wireless service market is segmented based on connectivity and type. In terms of connectivity, the market is segmented into 2G, 3G, and 4G connectivity. Based on type, the market is segregated into data and voice. In terms of connectivity, 4G occupies the largest share of more than 50% in the overall prepaid wireless service market. Demand for 2G connectivity has drastically fallen over a period of time largely due to rollout of 4G/LTE connectivity which is much faster. Moreover, after the commercial roll out of 5G services, 3G connectivity services will also start losing its market share.
Based on region, the global prepaid wireless service market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. AsiaPacific dominates the market, followed by Europe and North America. In North America, mobile owners are shifting from contract based services to prepaid services in the last few years.However, the share of postpaid wireless service is still higher than prepaid wireless service, when compared with other regions such as AsiaPacific and the Middle East and Africa. The largest market for prepaid wireless service is Asia Pacific largely due to the population size and people’s preference for prepaid services over postpaid services.
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Europe is the second largest market (in terms of revenue) for prepaid wireless services. The prepaid wireless services market received a further boost with the popularity of the MVNO (mobile virtual network operator) model in Europe. These MVNOs provide attractive voice and data plans at affordable rates, thus creating demand for prepaid wireless services specifically in developing countries.
Key players operating in this market adopt strategies such as product innovation, strategic alliances, partnerships, and acquisitions. The prepaid wireless service market is rather competitive; however, it is dominated by a few key players.Some of the major players in the global prepaid wireless service market include AT&T Inc., Sprint Corporation, Verizon Wireless, T-Mobile International AG, Deutsche Telekom, Vodafone Group plc, Orange S.A., Telefónica, S.A., Telstra Corporation Ltd., Telenor ASA, Emirates Telecommunication Group, Axiata Group, Bharti Airtel Limited, China Mobile Communications Corporation and AméricaMóvil.
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