Global eSIM Market is Anticipated to be Valued at US$ 333.3 Million in 2019 & is Likely to Witness a CAGR of 33.4% from 2019 to 2030
As per Market Industry Reports (MIR) research findings, favorable government initiatives, wide application across diverse industrial vertical, cost effectiveness of eSIM are set to open new avenues for stakeholders.
Increasing adoption of eSIMs across a wide horizon of industries such as automotive, energy & utilities, consumer electronics and manufacturing among others, has been pivotal in promoting growth of the global eSIMs market. Several government initiatives across various regions is significantly promoting the adoption of eSIMs. For instance, by 2020, the European Commission is aiming to replace approximately 80% of electric meters with smart meters for its member states.
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From the manufacturers and operators point of view, adoption of eSIMs significantly reduces production & handling costs as compared to conventional SIMs. For instance, mobile phones or other electronic devices, equipped with eSIM technology eliminates costs associated with manufacturing, and distribution of physical SIM cards, while not compromising on any feature. Whereas, from an operators’ perspective, eSIMs provide ample opportunities for expanding into novel business avenues across multiple industries. Moreover, eSIMs also offer effective, efficient, & attractive international subscription plans for consumers market or specifically markets for business travelers.
“The telco industry in general, is expected to witness a paradigm shift in terms of connectivity. The use of GSMA specified eSIMs have led to the extensive growth of Machine to Machine (M2M) services and simultaneously propelled the operational efficiency for the M2M ecosystem.” said Nidhi, Senior Analyst, Telecat MIR.
From a regional perspective, Asia-Pacific is expected to witness the highest CAGR in the coming years due to growing adoption of smartphones and smartwatches among countries such as China, Japan and India. Europe commands for the largest share of the eSIM market. The large share of this market segment can be attributed to launches of several eSIM launches across different countries in the region. For instance, in February 2019, Infineon Technologies AG launched its eSIM solution, specifically designed for mobile consumer devices, at the Mobile World Congress in Barcelona, Spain.
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The global eSIM market is a fragmented market and is largely governed by prominent players such as Gemalto NV, Giesecke+Devrient GmbH, Infineon Technologies AG, STMicroelectronics, Workz Group, Truphone Limited, NXP Semiconductors., Sierra Wireless, Valid and Plintron, among others.
MARKET ECOSYSTEM/CLASSIFICATION
By Device
- Connected Cars
- Smartphones
- Wearables
- Others (Laptop, Tablet, Smart Meter & Drone)
By End Use Industry
- Automotive
- Consumer Electronics
- Energy & Utilities
- Others (Healthcare, Security & Manufacturing)
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