USD 10.843 billion
Report ID: SQMIG50B2011 | Region: Global | Published Date: February, 2024 | Pages: 260 | Tables: 93 | Figures: 74
eSIM Market size was valued at USD 10.843 billion in 2021 and is poised to grow from USD 12.61 billion in 2022 to USD 42.15 billion by 2030, growing at a CAGR of 16.5% in the forecast period (2023-2030).
eSIMs are becoming popular since they enable their customers to manage all connected devices remotely and digitally including smartphones, laptops, wearable equipment, medical equipment and many others. These enable the devices to switch network carriers without replacing a SIM card physically.
In 2022, more than 350 million eSIM-capable devices were shipped in many categories such as smartphones, tablets, medical equipment, IoT modules. According to the market projections, it is anticipated that the demand will reach at a value of 16 billion devices and almost every three in four cellular devices would be capable to support an eSIM by 2030.
Smartphones are estimated to lead the shipments of eSIM-capable devices in the next few years, smartphones have been playing a very important role in driving growth of the market by providing benefits to other devices such as laptops, smartwatches, and others. Cellular connectivity through smartphones in smartwatches is an example through which demand for eSIM-supported smartwatches is also increasing.
eSIM is particularly well designed to the evolving landscape of smartphone usage. The number of people who are using more than one device is growing, whether they use two or more than two devices, one for their workspace and another for their personal use. It performs similarly to a traditional SIM card, but it has pre-programmed settings and it can be programmed by plugging into a modem or computer. The eSIMs was created mainly for the telecommunications sector, and primarily for network-attached storage installations (NAS).
US eSIM Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 10.843 billion
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eSIM Market is segmented based on application, vertical, solution, and region. By application, the market is segmented into laptops, smartphones, tablets M2M, and others. By vertical, the market is segmented into energy, utilities, logistics, and others. By solution, the market is segmented into hardware and software. By region, the eSIM market segmentation spans North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
eSIM Market Analysis by Application
By application, global market is divided into many segments such as laptops, smartphones, wearable equipment, medical equipment, M2M, and tablets. M2M segment held largest global eSIM market share due to the wide range of benefits provided by eSIM in M2M devices, such as easy digital approach to switching network carriers with no need of replacing a SIM physically. Furthermore, eSIMs provide very smooth connectivity and efficient operation of M2M modules. OEMs across all over the world are continuously focusing on the development and integrity of eSIM in various types of applications. Demand for miniaturization and IoT technology is growing which also boosts the eSIM market globally.
eSIM Market Analysis by Vertical
By vertical, the eSIM market is classified into energy, utilities, transportation & logistics, manufacturing, consumer electronics. The consumer electronics segment is one of the main reasons for innovation and growth across all technology industries including global market. It is considered a game-changer in consumer electronics. Consumer electronics applications, which are based on eSIMs are expected to revolutionize the market. The telecom providers are focusing on the development of connectivity technologies between two or more devices. It also enhances the scope for new generation consumer connected devices.
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Globally, Europe is estimated to hold the highest global eSIM market share in 2021, followed by North America and Asia Pacific. In Europe, the U.K., Germany, and France are the leading revenue generator countries to the Europe market. Main factors during this growth period is the presence of top market players such as Gemalto NV, ARM Holdings, and others. For insistence, in March 2018, the European government implemented an eCall regulation, in which all the new passenger cars will be equipped with the eCall technology.
Above all, Asia Pacific is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of eSIM technology in M2M devices in the region of Asia Pacific and mainly in China and Japan. Penetration of mobile internet in Asia Pacific has doubled in the last few years. In addition, mobile network operators are investing heavily in order to provide high speed internet services at an affordable price to the consumers, which is likely to boost the demand for eSIM in the region.
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eSIM Market Drivers
Increasing popularity and usage of M2M applications is boosting the eSIM market
eSIM Market Restraints
Critical methods of security can slow down and hinder the market growth
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Competition in the global eSIM market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with eSIM will also increase. Currently, only few key players are providing their services in global market but these numbers will increase in the upcoming years.
eSIM Market Top Player’s Company Profiles
eSIM Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global eSIM market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists such as digitally network transfer, remote connectivity, and high security. eSIMs will enable devices to more convenient for their users. The market has so much potential for new players also because of high expected rate of growth and demand. Based on application, M2M devices are expected to dominate the global market during the forecast period. Whereas, based on vertical segment, consumer electronics is the sub-segment which is projected to dominate the market over the forecast period.
|Market size value in 2021
|USD 10.843 billion
|Market size value in 2030
|USD 42.15 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global eSIM Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global eSIM Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global eSIM Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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