"Is there an upper limit? Yes, but it's not equal for everyone, and right now many consumers have grown accustomed to high connectivity costs and are willing to pay for it," said Jack Gold, an analyst at J. Gold Associates.

Regulators and others see the biggest controlling factor in service pricing coming from competition, such as the unlimited plans offered by Sprint and T-Mobile USA. Both are pursuing separate mergers: Sprint with and .

Sprint executives said recently at the MobileCon conference that they have no plans to stop offering unlimited data plans.

"A service pricing war could be in play if Sprint gets the backing they need from Softbank to extend their network or T-Mobile really beefs up its coverage and offerings," Gold added. "For the most part, consumers are only looking at two key wireless carriers for data -- Verizon and AT&T -- and neither have any real incentive to lower prices right now. There's just not that much competition."

AT&T and Verizon together have about 75% of the market for customers on two-year service contracts in the U.S., analysts said.