Vancouver, British Columbia, Dec. 09, 2020 (GLOBE NEWSWIRE) -- The Global Embedded SIM (eSIM) Market is projected to be valued at USD 3019.1 Million by the year 2027, as per the latest assessment by Emergen Research. The embedded sim (eSIM) industry is predicted to deliver significant growth in the coming years due to the rising application of IoT-connected devices in manufacturing. The globally mounting implementation of smart solutions might further benefit market growth. Additionally, increasing government initiatives to push electric vehicles’ adoption is expected to be advantageous for the sector’s growth due to the advanced functionalities eSIM offers in electric vehicles.
However, market growth might be restrained in the forecast years owing to the significantly higher costs of eSIM than a conventional SIM.
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Key Highlights From The Report
- In December 2020, Kigen, a leader in the cellular IoT and a wholly-owned subsidiary of Arm, announced that it had enabled two billion SIMs in IoT devices, with new cutting-edge eSIM and iSIM (integrated SIM) deployments on the cards in collaboration with major chipset providers, network operators, and module vendors.
- The connectivity service sub-segment is projected to dominate the market share, growing at a CAGR of 30.2%, due to the services offered to mobile network operators for securing a stable and effective end-user network connection as part of the connectivity services.
- With the numerous benefits provided by eSIM for M2M communication, the Machine to Machine sub-segment would account for the largest share in the market in the forecast duration.
- The consumer electronics sub-segment is forecast to control the largest share of the market because of the extensive adoption of eSIM for enhanced protection and connectivity as well as the superior reliability it offers.
- North America is expected to contribute to the most significant portion of the market in the forecast period owing to the swift deployment of smart grids as well as other advanced technologies. Europe is also speculated to report substantial growth in the forecast years, fueled by the presence of several market players.
- Key participants include Arm Limited, Giesecke+Devrient Mobile Security GmbH, KORE Wireless Group Inc., Infineon Technologies AG, Sierra Wireless Inc., Gemalto NV, NXP Semiconductors N.V., STMicroelectronics, Deutsche Telekom AG, and Vodafone Group plc, among others.
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Emergen Research has categorized the Global Embedded SIM (eSIM) Market based on application, end-use, solution, and region:
- Application Outlook (Revenue: USD Million; 2017-2027)
- Smartphones
- Wearables
- Laptops
- Machine to Machine
- Connected Cars
- Others
- End-Use Outlook (Revenue: USD Million; 2017-2027)
- Automotive
- Energy & Utilities
- Consumer Electronics
- Manufacturing
- Retail
- Transportation & Logistics
- Solution Outlook (Revenue: USD Million; 2017-2027)
- Connectivity Services
- Hardware
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- Regional Outlook (Revenue: USD Million; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
- North America
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