UK MVNO market set to grow 50% as fintech firms enter mobile space

Research firm FDM CCS Insight forecasts that connections to UK mobile virtual network operators (MVNOs) will increase by about 51% between early 2026 and the end of 2031, rising from roughly 20.3 million to 30.7 million customers. This would lift MVNOs’ share of the UK mobile market (excluding machine‑to‑machine traffic) from around 22% to 30% and double total MVNO service revenue from just under £2.4 billion in 2025 to more than £4.5 billion by 2031. The report highlights fintech companies such as Revolut and N26 as fast‑growing entrants, projecting they could serve over 3 million users and capture about 11% of the MVNO market by 2031. Kester Mann, director of consumer and connectivity at FDM CCS Insight, described the trend as “bittersweet” for network operators, noting higher wholesale revenue but increased retail competition that could erode incumbent subscriber bases.

In a related development, Japan’s NTT Docomo announced a proof‑of‑concept partnership with Chile’s state‑owned copper miner Codelco, testing remote operation of a mine via the company’s IOWN all‑photonics network. The trial, part of a broader research project commissioned by Japan’s Ministry of Internal Affairs and Communications, aims to assess the feasibility of controlling heavy‑machinery from a control centre 1,500 km away.