Pune,India, March 30, 2023 (GLOBE NEWSWIRE) -- The global eSIM market size was gauged at USD 1.01 billion in 2022. The market is projected to grow from USD 1.21 billion in 2023 to USD 4.62 billion by 2030, exhibiting a CAGR of 21% during the 2023-2030 period. Embedded SIM technology allows users to switch between operator profiles remotely without needing a physical SIM. Technological developments in manufacturing machinery equipment, industry 4.0, and other high-tech devices will also drive market growth. This information is provided by Fortune Business Insights, in its report titled, “eSIM Market, 2023-2030.”
Key Industry Development-
Sierra Wireless joined forces with Orange Wholesale France to boost its presence in global networks and connectivity sector across Europe. Further, the company has strengthened its smart connectivity facilities across Europe on its One global SIM, which is accessible in several form features and with enabled embedded SIM Ready-to-Connect modules.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 21.0% |
| 2030 Value Projection | USD 4.62 Billion |
| Base Year | 2022 |
| eSIM market Size in 2022 | USD 1.01 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 130 |
| Segments covered | Application, Industry, Region |
Key Takeaways-
- eSIM Market is expected to flourish & reach USD 4.64 Billion in 2030
- increase the market demand for eSIM-enabled sensors.
- New tariff plans using the most recent technology for international roaming are being introduced by a number of significant providers and fresh competitors.
- The market for mHealth products is booming. Examples include glucose monitors, fall detectors, ECG monitors, and trackers for children or animals.
- eSIM Market Size in North America was USD 0.38 Billion 2022
Drivers and Restraints-
Integration of eSIM Technology with 5G Devices to Aid Market Expansion
5G technology is designed in such a way that it can connect with everything and deliver higher-speed internet access with better reliability and availability and low latency. 5G-enabled embedded SIM devices promote market proliferation in consumer and IoT sectors. For example, as per the GSMA Intelligence Report 2021, among the 60 embedded SIM-enabled smartphones launched in 2021, more than half had 5G technology. Samsung and Apple were among the top players to launch 19 and 15 variants respectively. The integration of 5G technology with embedded SIM digitizes the user’s journey and provides data analysis and automation, thus aiding market proliferation.
On the other hand, lack of awareness regarding advantages of embedded SIM technology in emerging economies limits its adoption, thus hindering the market growth.
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Regional Insights-
North America to Hold Significant Share Due to Presence of Leading Companies
North America captured a significant market share in 2022 due to presence of industry leaders such as Apple Inc., Alphabet Inc., and Samsung Electronics Co. Ltd, which offer eSIM enabled devices and are driving stronger consumer demand in the region. According to GSMA Intelligence 2021, awareness regarding embedded SIM technology has increased from 17% in 2020 to 27% in 2021. Also, increasing initiatives by OEMs to adopt embedded SIM technology than the telecom operators in the U.S. will drive the market growth in the region.
Asia Pacific market is likely to record the highest growth rate among all regions due to increasing digitization in emerging countries such as South Korea, Japan, and India and rising consumer demand for flexible embedded SIM-enabled solutions and services. Growing smartphone adoption in emerging economies is further driving eSIM technology demand in the region.
Report Coverage-
The report entails crucial insights in drivers and restraints affecting global market trends over the forecast period. The market is studied at both micro and macro levels by dividing it into regions, segments, and countries. Latest developments undertaken by leading players to enlarge profit margins, maximize profits, and strengthen market positioning are given as well.
Segments-
Increasing Demand for Connected Cars to Augment the Market Growth
Based on application, the market is split into smartphones, laptops/tablets, connected cars, wearable devices, smart home appliances, vehicle tracking, and others (smart meters, smart grids). Among these, the connected cars segment captured majority of the eSIM market share in 2022. These chips allow the vehicle to be connected by several operators and allow the choice of regional operators' connectivity at the vehicle's destination country, thus driving the market for connected cars.
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Competitive Landscape-
Partnerships among Leading Players to Escalate Market Growth
Key companies in the global market undertake strategic decisions such as mergers & acquisitions, product launches, and investments in R&D to boost sales and revenue generation. For example, in September 2022, BICS announced its decision to partner with Thales Group to simplify the integration of embedded SIM with IoT technology. The partnership facilitates consumer embedded SIMs to a wider IoT while incorporating connectivity activation for consumers and enterprises.
List of Key Players Mentioned in the Report-
- Thales Group (France)
- Infineon Technologies AG (Germany)
- STMicroelectronics (Switzerland)
- NXP Semiconductors Netherlands)
- Giesecke+Devrient GmbH Germany)
- Sierra Wireless Inc. (Canada)
- IDEMIA (France)
- KORE Wireless (U.S.)
- Kigen (U.K.)
- Valid S.A. (Rio de Janeiro)
Major Table of Contents-
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global eSim Key Players Market Share/Ranking, 2022
- Global eSim Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Application (USD)
- Smartphones
- Laptops/Tablet
- Connected Cars
- Wearable Devices
- Smart Home Appliances
- Vehicle Tracking
- Others (Smart Meters, Smart Grids, etc.)
- By Industry (USD)
- Retail
- Consumer Electronics
- Manufacturing
- Automotive
- Transportation & Logistics
- Energy & Utilities
- Others (Healthcare, etc.)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America eSim Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Application (USD)
- Smartphones
- Laptops/Tablet
- Connected Cars
- Wearable Devices
- Smart Home Appliances
- Vehicle Tracking
- Others (Smart Meters, Smart Grids, etc.)
- By Industry (USD)
- Retail
- Consumer Electronics
- Manufacturing
- Automotive
- Transportation & Logistics
- Energy & Utilities
- Others (Healthcare, etc.)
- By Country (USD)
- United States
- By Industry
- Canada
- By Industry
- Mexico
- By Industry
- United States
- South America eSim Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Application (USD)
- Smartphones
- Laptops/Tablet
- Connected Cars
- Wearable Devices
- Smart Home Appliances
- Vehicle Tracking
- Others (Smart Meters, Smart Grids, etc.)
- By Industry (USD)
- Retail
- Consumer Electronics
- Manufacturing
- Automotive
- Transportation & Logistics
- Energy & Utilities
- Others (Healthcare, etc.)
- By Country (USD)
- Brazil
- By Industry
- Argentina
- By Industry
- Rest of South America
- Brazil
TOC Continued…!
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5G Infrastructure Market Share, Industry Report, 2023-2027
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5G Services Market Share, Revenue And Growth Rate Till 2030
FAQ:
How big is the eSIM Market?
The global eSIM market size was valued at USD 1.01 billion in 2022 and is projected to grow from USD 1.21 billion in 2023 to USD 4.62 billion by 2030, exhibiting a CAGR of 21.0% during the forecast period.
How big is eSIM Market in North America?
The market in North America stood at USD 0.38 Billion in 2022 and is expected to gain a huge portion of the market share in the coming years.
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