eSIM Market Overview
You can activate a cellular plan with your carrier without using a physical SIM by using an eSIM, an industry-standard digital SIM. On an iPhone, you can add up to eight eSIMs and use two phone numbers simultaneously.
An embedded SIM, or eSIM, is a type of SIM card that is built right into a gadget. A permanent attachment of an eUICC chip to a device is what makes an eSIM, as opposed to an integrated circuit on a detachable SIM card, which is usually composed of PVC. The eSIM can be reprogrammed with new SIM data if it is compatible with the eUICC.
The size of the worldwide eSIM market is anticipated to grow from USD 8.34 billion in 2022 to USD 9.87 billion in 2023. With a projected compound annual growth rate (CAGR) of 10.5% from 2023 to 2031, it is predicted to reach USD 19.35 billion by 2031.
Some key statistics on eSIM (embedded SIM) technology
Global eSIM support increased to 102 countries at the start of 2023 from 24 in 2018—a 325% increase.
Globally, 52% of nations supported eSIM at the start of 2023.
Global shipments of eSIM devices are predicted to increase from 315 million in 2021 to 6.4 billion by 2030.
By 2030, it is anticipated that 89% of cellular devices will use eSIMs.
Mobile network operators (MNOs) around the world said that in 2021, lower logistics costs, better customer experiences, and less environmental effects were the main advantages of eSIM.
Three major obstacles stood in the way of the global adoption of eSIM in IoT solutions in 2022: a lack of standardization, a lack of cooperation from device manufacturers, and a lack of user awareness.
Competitive Landscape
Some of the prominent players operating in the eSIM Market are
Kigen
Deutsche Telekom AG
Giesecke+Devrient Mobile Security GmbH
Infineon Technologies AG
KORE Wireless
NXP Semiconductors N.V.
Sierra Wireless
STMicroelectronics
Thales Group
Workz Group
Telefónica, Semtech Corporation
AT&T, Orange
Arm Limited
Vodafone Group
Get Free Request Sample Report @straitsresearch.com/report/esim-market/requ..
Latest trends in eSIM Market
Spread of IoT Devices: eSIMs offer seamless connectivity without requiring physical SIM cards, making the proliferation of Internet of Things (IoT) devices a noteworthy trend. Reliable communication is critical for wearables, industrial applications, and smart home devices.
Adoption in Smartphones and Wearables: eSIM technology, which enables carrier switching without the need to swap SIM cards, is becoming more and more integrated into smartphones and wearables. Its adaptability is especially useful for tourists who can connect to local networks with ease.
Activating and managing eSIMs remotely from a device is made possible via remote SIM provisioning. Mobile network operators (MNOs) and device manufacturers are embracing this trend to improve customer experience and increase consumer convenience.
Enhanced Security Features: eSIMs include enhanced security features that guard against cyber risks and unauthorized access, such as secure boot and encrypted communication. Demand for secure eSIM solutions is rising as worries about data privacy become more pressing, particularly in delicate industries like finance and healthcare.
Growth in the Automotive Sector: The demand for connected automobiles is driving a large-scale eSIM adoption in the automotive sector. In addition to supporting features like in-car Wi-Fi and over-the-air upgrades, eSIMs improve the driving experience by enabling real-time data access, navigation, and remote diagnostics.
Integration with 5G Networks: Since eSIMs are necessary to enable the high-speed, low-latency connectivity that 5G offers, the deployment of 5G networks is directly related to eSIM technology. It is anticipated that this integration will increase demand for eSIMs in a range of 5G-capable devices.
Growth of Travel eSIMs: It is anticipated that between 2023 and 2028, the travel eSIM market will expand by 500%. This pattern shows how more and more business and leisure travelers are using eSIMs since they provide flexible and affordable connectivity alternatives when traveling.
Market Cooperation and Consolidation: The eSIM ecosystem is becoming more innovative and streamlined because to strategic relationships between device manufacturers, MNOs, and eSIM providers. These partnerships seek to provide packaged services and improve the user experience as a whole.
Global eSIM Market: Segmentation
As a result of the eSIM Market segmentation, the market is divided into sub-segments based on product type, application, as well as regional and country-level forecasts.
By Component
Hardware
Connectivity Services
Deployment Mode
Cloud
On-Premises
Network Type
Private
Public
Data Plan
2GB-5GB
5GB-10GB
10GB-25GB
Less than 2GB
More than 25GB
Architecture
M2M E-SIM Architecture
Consumer Electronics E-SIM Architecture
Pricing model
Pay-as-you-go SIMS
Pay monthly SIMS
By End-User
Consumer Electronics
Mobile Phones
Tablets
Laptops
Wearables
Smart Meters
Others
Automotive
Manufacturing
Retail
Energy And Utilities
Transportation & Logistics
Residential
Sports & Entertainment
Agriculture
Others
The report forecasts revenue growth at all geographic levels and provides an in-depth analysis of the latest industry trends and development patterns from 2024 to 2032 in each of the segments and sub-segments. Some of the major geographies included in the market are given below:
North America (U.S., Canada)
Europe (U.K., Germany, France, Italy)
Asia Pacific (China, India, Japan, Singapore, Malaysia)
Latin America (Brazil, Mexico)
Middle East & Africa
Regional Analysis
North America Market Size: With a projected $447.76 million market value in 2023, North America accounted for the highest share of the eSIM market worldwide.
Growth drivers: The presence of significant tech giants like Apple and Samsung in the area helps to promote customer demand for smartphones with eSIM capabilities. The development of 5G networks and Internet of Things applications is supporting the deployment of eSIM technology.
Forecast: Because of the widespread use of consumer electronics and the creative solutions offered by telecom operators, the market is anticipated to maintain its position as the leader in revenue creation.Asia-Pacific CAGR: Driven by nations like South Korea, Japan, and India, the Asia-Pacific area is expected to have the highest compound annual growth rate (CAGR) during the forecast period.
Dynamics of the Market: The need for flexible connectivity solutions among consumers and the rate of digitization are the two main drivers. The market's rise is also being aided by the increasing use of smartphones and other linked devices.
Prognosis: The usage of eSIM is anticipated to rise significantly in the region, especially in consumer electronics and Internet of Things applications.Europe Market Growth: Thanks to innovations from major players like Deutsche Telekom and Giesecke+Devrient, the eSIM market in Europe is expanding steadily.
Adoption Factors: The market is growing as a result of the growing integration of eSIM technology in numerous applications, such as consumer electronics and automobiles.
Prognosis: It is expected that sustained investments in IoT solutions and telecommunications infrastructure will support the European eSIM industry.Latin American Market Potential: The eSIM market in Latin America is predicted to develop at a moderate rate. The government is contributing to this expansion by making investments in telecommunications and IT infrastructure.
Obstacles: The area has difficulties in getting people to adopt and understand high-tech products, but continued advancements in connectivity and technology should boost business opportunities.Africa and the Middle East
Dynamics of the Market: The Middle East and Africa eSIM industry is still in its infancy, driven mostly by the growing need for mobile connection and Internet of Things applications.
Prediction: The popularity of eSIM technology is anticipated to increase as the region's technology advances, especially in metropolitan regions with improved infrastructure.
This Report is available for purchase on Buy eSIM Market Report
Key Highlights
To explain the eSIM Market the following: introduction, product type and application, market overview, market analysis by countries, market opportunities, market risk, and market driving forces
The purpose of this study is to examine the manufacturers of the eSIM Market, including profile, primary business, news, sales and price, revenue, and market share.
To provide an overview of the competitive landscape among the leading manufacturers in the world, including sales, revenue, and market share of eSIM Market percent
To illustrate the market subdivided by kind and application, complete with sales, price, revenue, market share, and growth rate broken down by type and application
To conduct an analysis of the main regions by manufacturers, categories, and applications, covering regions such as North America, Europe, Asia Pacific, the Middle East, and South America, with sales, revenue, and market share segmented by manufacturers, types, and applications.
To investigate the production costs, essential raw materials, production methods, etc.
About Us:
StraitsResearch.com is a leading research and intelligence organization, specializing in research, analytics, and advisory services along with providing business insights & research reports.
Contact Us:
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY, USA, 10022
Tel: +1 6464807505, +44 203 318 2846