Global eSIM Market: Overview
With the constant evolution of smart connected devices in every industry vertical, the need for centralized manageable network-connected devices is rising rapidly. For managing devices, the need for remote connectivity is increasing. For sustaining this requirement, the number of manufacturers of smart devices is increasing rapidly. eSIMs are becoming increasingly popular, as they allow users to manage all connected devices, including cars, mobile phones, wearables, medical devices, and others from a remote location. eSIMs are becoming increasing popular among smart device manufacturers, as these SIMs have ‘Machine to Machine’ capabilities and also remote provisioning.
An eSIM is also known as an Embedded SIM or ‘embedded Universal Integrated Circuit Card’ (eUICC). eSIMs stand out as a result of evolution; they are smaller in size – 6 mm x 5 mm (length x width). These are an embedded form of SIM cards. The eSIM is soldered onto a motherboard of a device at the time of manufacturing. eSIMs perform the same functionality as the removable SIM cards of present times.
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Global eSIM Market: Drivers and Restraints
The fact that an eSIM allows a user to store multiple operator profiles on a device simultaneously and also switch between these profiles remotely is fuelling the demand for the eSIM market. In addition to this, the rapid adoption of IoT across different industry verticals for the manufacturing of smart and connected devices is rising rapidly resulting in the increasing demand for these eSIMs. The increasing popularity and application of machine to machine learning is leading to the rising deployment eSIMs. Also, the global eSIM market is expected to be fuelled by the increasing adoption of these SIMs from leading smart
phone manufacturers such as Google and Apple. Smartphone manufacturers are expected to demand eSIMs to enhance their product offerings. On the other hand, consumers can only choose one profile out of all profiles at a time. This is a major drawback of eSIMs, which is restraining the growth of the market. Also, being a latest technological evolution, the compatibility, connectivity, and other issues with the smart devices of different manufacturers is also one of the major challenges for the growth of the eSIM market.
Segmentation Based on Vertical:
On the basis of vertical, the eSIM market is segmented into automotive, manufacturing, consumer electronics, and others. The vertical segment is considers verticals which are using eSIMs as a part of the products that they are manufacturing.
Segmentation Based on Application:
On the basis of application, the eSIM market is segmented into the types of devices or products in which eSIMs are an integrated part. Based on application, the eSIM market is segmented into phones, wearables, medical, automotive, smart homes, tablets, laptops, and others.
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Segmentation Based on Region:
On the basis of region, the eSIM market is segmented into North America, Latin America, Europe, Eastern Europe, CIS & Russia, Japan, and MEA.
Global eSIM Market: Industry Key Players
Examples of some of the key players in the global eSIM market include Gemalto, Stmicroelectronics, Sierra Wireless, NXP Semiconductors, Singtel, Giesecke & Devrient, Deutsche Telekom, Telefónica, NTT Docomo, Inc., and others. eSIM manufacturers are continuously focusing on innovations in their products. This strategy is followed by key vendors for sustaining themselves in the increasing global competition. In addition to this, eSIM manufacturers are focusing on delivering eSIMs to different industries as per their product requirements, so that they are able to retain customers.
Global eSIM Market: Region Wise Outlook
Considering the revenue generation from the sales of eSIMs, North America holds a significant market share due to its rapid adoption of eSIMs by smartphone manufacturers and smart device manufacturers across different industry verticals. Industries including automotive, energy and utilities, and others in European countries are adopting eSIMs to sustain the rapidly changing industry requirements for delivering connected devices to consumers. Industries are using these eSIMs in devices for establishing efficient connectivity management. The APEJ region is expected to grow at a high CAGR over the forecast period, due to the increasing manufacturing of smartphones, consumer electronics, laptops, and others in developing countries such as India, China, and others in this region, resulting in the adoption of eSIMs. The eSIM market in the MEA region is expected to grow at comparatively moderate CAGR, due to the slow adoption rate of these eSIMs.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.