Plug into Profit: How Any Business Can Become a Mobile Provider

August 2025

Telecoms & Connectivity

Molly Gatford

Senior Research Analyst

The ability to offer mobile connectivity is no longer exclusive to telecoms giants. This is due to the rise of the Connectivity-as-a-service model, where providers manage the network infrastructure and services for a business; thereby lowering the barriers to entry into the telecoms market. 

Such solutions leveraging this model include mobile virtual network operator (MVNO)-in-a-box and travel eSIM enablement solutions, which offer connectivity solutions for domestic and international markets respectively. These solutions enable virtually any business, from retail brands and travel agencies to fintech startups and hospitality providers, to offer mobile services to their customers, irrespective of their previous experience in the telecommunications space.

By launching these services, it provides a new revenue stream for businesses, and allows them to differentiate themselves. As a result, these solutions are gaining popularity and are expected to cause significant disruption within the mobile connectivity ecosystem.

Why the eSIM Is Powering Connectivity-as-a-Service

The technology that has transformed the mobile connectivity space is the embedded SIM (eSIM); a digital version of a SIM card that enables mobile connectivity without inserting a physical SIM card. Since eSIMs enable remote provisioning, it allows for more seamless switching between mobile operators, thereby opening opportunities in both the domestic and international mobile connectivity space. Since connectivity can be embedded directly into devices and managed centrally through cloud platforms, this has enabled the connectivity-as-a-service model.

Therefore, eSIM technology has facilitated the MVNO-in-a-box and travel eSIM business models that are expected to rapidly expand within the market. As consumers become more familiar with the eSIM technology, and the number of eSIM-compatible mobile devices continues to increase, we expect more businesses to want in on their share of the mobile connectivity market.

MVNO-in-a-Box: Reshaping Home-Network Connectivity

MVNO-in-a-Box is a pre-packaged solution that enables businesses without telecom experience to launch their own MVNO. These solutions are already transforming the mobile connectivity market, with a variety of businesses across different industries launching MVNOs to open new monetisation channels. MVNO-in-a-Box providers allow these businesses to tailor mobile experiences to their audience, by offering flexible charging models and white-label applications. In turn, businesses diversify their portfolio of services, which fosters customer retention and brand loyalty.

While MVNOs have existed for some time, the emergence of eSIM technology and MVNO-in-a-Box platforms has lowered the barrier of entry, particularly for businesses with digital-only presence. Previously, the MVNOs which have been more successful have been those with physical distribution networks; retailers, supermarkets, and brands with brick-and-mortar stores could use this presence to sell SIM cards and onboard customers.

However, since eSIMs allow mobile plans to be activated remotely, this allows digital-first businesses, such as fintechs and online marketplaces, to launch MVNOs without having to worry about SIM distribution. At the same time, the MVNO-in-a-box model reduces time-to-market and lowers technical complexity; making it much easier for businesses to launch an MVNO.

This is already disrupting the mobile subscriber market, with many notable businesses launching their own MVNO, such as Klarna, Revolut, and Nubank. These MVNOs have several advantages over mobile operators; often offering lower costs, with greater flexibility and able to meet the needs of niche markets. With eSIMs making it easier to switch networks, this will lead to an increased shift towards MVNOs that are able to offer better deals, and often loyalty points for a service that a mobile subscriber regularly uses.

Travel eSIM Enablement: Transforming International Connectivity

Not only can any business become an MVNO, but the same business can also now offer travel eSIMs; providing their customers with international connectivity solutions. While the eSIM technology opened the market opportunity in the first place, it is travel eSIM enablement solutions that will drive the acceleration in the eSIM market.

Travel eSIM enablers can operate with a similar model to MVNO-in-a-box providers; offering APIs and white-label applications for businesses to launch their own travel eSIM solution. This also removes the technicalities of launching a travel eSIM for the business; providing them with a range of international eSIM plans that they can sell to their customers.

This is disrupting the market for international connectivity solutions. It addresses the challenge of silent roamers, since it offers a pre-paid and cost-effective solution, therefore travellers that were hesitant of roaming have greater control over their connectivity. However, there is also potential for these solutions to disrupt operators’ roaming revenue, with customers using third-party travel eSIM services as an alternative.

The Future of Mobile Connectivity

The greatest shift in the mobile connectivity market is going to occur over the next few years. Consumer awareness of eSIM technology is growing, and if Apple decides to extend eSIM-only iPhones beyond the US as many in the industry are expecting, this will further widen consumer awareness.

In the case of home-network connectivity, we expect more digital-first businesses to launch their own MVNO, with mobile subscribers switching networks more regularly, depending on which can best meet the needs of individual subscribers.

The travel eSIM market could go either of two ways, the first being that mobile operators launch their own travel eSIMs solutions; enabling their mobile subscribers to purchase connectivity for a lower cost than their roaming services. This could work out in favour of mobile operators, since they have a customer base that is already using their mobile connectivity solutions. In the other scenario, operators have been slow to launch travel eSIMs, and as the market grows, customers will experiment with different SIMs and identify a preferred provider, and operators could miss out on the opportunity.

Either way, we expect that the early players that entered the travel eSIM market will hold a declining proportion of the market share, with users exploring the different options that become available. The market will grow rapidly over the next few years, and consolidation will happen quickly, so this is not something on which mobile operators can delay action.

We believe the market needs to pay attention to the emerging intersection between MVNO-in-a-box and travel eSIM solutions over the next few years. We expect a convergence where one eSIM profile can support both home-network and international connectivity; managed through centralised platforms.