From Carrier to Catalyst: The MNO’s Role in an Agentic, eSIM-Driven World

MNOs: From Basic Connectivity Provider to Intelligent Platforms 

MNOs are at a crossroads in the connectivity landscape. In the past, they prospered by simply offering the “pipes” for voice, data, and text. Now, everything from your car to your dog’s collar needs a reliable, intelligent connection - and that’s only the tip of the IoT iceberg. As we look toward billions of interconnected devices, MNOs can’t rely on old revenue models. IoT is ushering in a rapidly expanding ecosystem of devices, applications, data streams, and insights that demands a new playbook. 

It won’t be business as usual. MNOs that stick to selling raw connectivity (and nothing else) risk relegation to commodity status. 5G won’t magically fix this if it’s positioned as just “faster data.” In what follows, I’ll explore eSIM/iSIM, NTNs, Agentic AI, and the emergence of IoT marketplaces; and why MNOs must pivot, partner, and innovate to dominate the next generation of connectivity. 

“In a world powered by eSIMs, satellites, and Agentic AI, MNOs face a stark choice: evolve into the architects of IoT or become yesterday’s basic connectivity provider.”

From Physical SIM to eSIM, iSIM, and Beyond 

For decades, the physical SIM card has been a mainstay of mobile connectivity. But in an IoT environment, where devices are deployed at massive scale and in hard-to-reach places, physical SIMs pose logistical and operational nightmares. 

eSIM: Embedded SIMs eliminate physical swapping, allowing remote provisioning, instant activation, and flexible carrier switching. This is critical for IoT, where a single update could provision or reconfigure thousands of devices at once. 

iSIM: The next evolution integrates SIM functionality directly into the device chipset, further shrinking form factors, reducing power consumption, and streamlining the manufacturing process. 

For MNOs, these transformations offer centralised management and over-the-air updates but also introduce fierce competition. When enterprise customers can switch network profiles with a few clicks, how do you differentiate? This is where next-level offerings like security, edge analytics, or private 5G solutions become essential. 

Non-Terrestrial Networks: The New Frontier 

5G has revolutionised connectivity, but there’s a new horizon unfolding above us. NTNs including satellite constellations (think Starlink or IRIS2), high-altitude platforms, and even solar-powered drones are poised to fill coverage gaps and deliver connectivity to remote or underserved regions. 

For IoT use cases that demand global reach (maritime shipping, offshore energy, remote telemedicine, or agriculture) NTNs are a game-changer. But for MNOs, supporting NTNs adds complexity: 

Device Design & Certification: IoT terminals need satellite-ready antennas and specialised approvals. 

Latency & Power: Communicating through space introduces higher latency and power consumption, which matters for low-power IoT devices. 

Billing & Bundling: Satellite bandwidth is expensive, requiring creative commercial models, especially when customers need seamless terrestrial and non-terrestrial coverage. 

If MNOs master hybrid connectivity, integrating satellite, terrestrial, and even private 5G, they’ll differentiate themselves with an “always-connected” promise. The challenge is to weave these various technologies into a single, cohesive service while maintaining consistent performance and predictable pricing. 

Agentic AI: From Big Data to Autonomous Action 

Traditional AI (funny to even say that) excels at data analysis and predictions, but the conversation today is shifting to Agentic AI - autonomous software agents that don’t just predict outcomes but act on them. In IoT, the potential is enormous: 

Predictive Maintenance: Self-directed agents continuously monitor connected machinery, proactively scheduling tune-ups or parts replacements before failures occur. 

Adaptive Networks: AI-driven network slicing and orchestration could optimise resource allocation across billions of devices in real time - essential for MNOs offering mission-critical services. 

Automated Commerce: Think IoT marketplaces where AI agents negotiate connectivity contracts, buy data in bulk, or switch providers on behalf of devices based on real-time cost and performance metrics. 

For MNOs, harnessing Agentic AI means moving from a passive provider to an active orchestrator. Offering AI-enabled network features, such as self-optimising base stations or instant tier upgrades, adds tangible value beyond raw data throughput. 

Ascending the Value Chain: Beyond Simple Connectivity 

Despite enormous investments in 5G infrastructure (including a lot of costly ‘rip and replace’ activity), many MNOs haven’t seen a corresponding jump in revenue from retail subscribers. Data is increasingly perceived as a commodity - customers just expect it to be fast and cheap. This puts MNOs at a financial tipping point. 

The solution: climb the value chain with IoT-focused products and services. Here’s where MNOs can stand out: 

Security & Compliance: IoT introduces new attack surfaces, regulatory challenges, and privacy complexities. Offer managed security services or compliance “as a service” to industries that need bulletproof solutions. Even looking to integrate post-quantum security at all points of the ecosystem is coming into the spotlight. 

Edge Computing & Private 5G: Offloading computation and analytics closer to the device cuts latency and bandwidth requirements. Bundling private 5G networks with edge AI frameworks can deliver specialised, high-margin offerings to enterprises. 

Lifecycle Management: Beyond provisioning and activation, IoT devices need updates, re-certifications, and eventual decommissioning. Provide end-to-end solutions that simplify device management at scale. 

Vertical Expertise: Healthcare, automotive, manufacturing - each vertical has unique IoT demands and regulatory landscapes. Building domain-centric solutions and partner ecosystems can unlock premium pricing. 

To do this effectively, MNOs must pivot from selling “connectivity” to selling business outcomes. That might mean co-investing with enterprises, forging alliances with hyperscalers, or developing turn-key packages that deliver immediate results. 

Enter the IoT Marketplace: The ‘App Store’ of Connectivity 

Another emerging trend is the IoT marketplace, where device makers, service providers, app developers, and network enablers converge to buy and sell connectivity. Think of it as the “app store” for IoT, orchestrating real-time bid-offer dynamics. 

Why should MNOs care? 

Flexibility: Devices can seamlessly switch between carriers or networks (including terrestrial, satellite, or private 5G) based on performance, location, or cost. 

Simplicity: A central marketplace eliminates the need for endless bilateral agreements, making IoT connectivity as plug-and-play as possible. 

Value-Added Services: MNOs can upsell AI-driven optimisation, security layers, or industry-specific compliance modules. Instead of competing on price alone, they become solution providers. 

By positioning themselves as brokers (or even the backbone) of such a marketplace, MNOs can grab a slice of every transaction. It’s a powerful way to avoid commoditisation and stay relevant as IoT scales. 

The “Now or Never” Moment 

With the shift to eSIM and iSIM, customers can switch MNOs at will. NTNs threaten to bypass terrestrial operators if they don’t integrate quickly. Agentic AI is reshaping how devices interact with networks, while IoT marketplaces promise new distribution models that could leave unprepared MNOs behind. 

In short, standing still is not an option. 

Winning MNOs will be those that: 

Adopt the Full Connectivity Stack: From device identity to advanced data services, offering a holistic platform is crucial. 

Double Down on Intelligence: AI (especially Agentic AI) should power predictive maintenance, network slicing, and real-time optimisations. 

Champion IoT Marketplaces: Whether building or partnering, MNOs must simplify the connectivity bid-offer process globally. 

Get Serious About Edge & Private 5G: Enterprise customers need low-latency, high-security solutions that offload processing from the cloud to the edge. 

Which MNOs Will Seize the Moment? 

5G alone won’t justify the billions spent if it’s delivered as just “faster Internet.” As IoT devices proliferate, and as integrated SIMs, NTNs, Agentic AI, and private 5G reshape the connectivity landscape, MNOs must become more than conduits. They need to emerge as ecosystem architects, orchestrating everything from device onboarding to data monetisation. 

Fail to do so, and MNOs risk watching the next wave of innovators profit from infrastructure they helped fund, while settling for the scraps of basic connectivity revenue. Succeed, and they stand to become the indispensable force powering a trillion-dollar IoT economy. 

The only question is: Which MNOs have the courage and vision to make the leap?