New York US, May 03, 2022 (GLOBE NEWSWIRE) -- E-SIM Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “eSIM Market” information by End User and Region – Forecast to 2030” market size to reach USD 5.71 billion, growing at a compound annual growth rate of 31.4% by 2030.
eSIM Market Scope:
The global eSIM market is witnessing rapid revenues growth. Rapid 5G rollouts and expansion of the best-in-class over-the-air (OTA) SIM platforms are major factors driving the market growth. eSIM technology providers are increasingly collaborating with telecom operators to boost the adoption and engaging with major operators as their platform service provider for eSim.
As the best-in-class over-the-air (OTA) SIM platforms are critical for 5G networks, industry players are working on bringing key solutions, such as OTA management. E-Sim platform is based on secure interfaces between the connected devices and the network elements. With the rising penetration of 5G commercial networks, the next generation of technology and the Internet of Things (IoT) would unleash various devices throughout the world.
Dominant Key Players on E-SIM Market Covered are:
- STMicroelectronics (Switzerland)
- NXP Semiconductors (Netherlands)
- Infineon Technologies AG (Germany)
- Deutsche Telekom AG (Germany)
- NTT Docomo Inc. (Japan)
- Gemalto NV (Netherlands)
- Giesecke+Devrient GmbH (Germany)
- Singtel (Singapore)
- Sierra Wireless.
- (Canada)
- Telefonica SA (Spain)
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A simple device setup without having to insert or replace a SIM card and a range of new and improved mobile-connected devices are a few of the advantages of eSIM. The ability to switch between network service providers in real-time and prevent charging the subscribers for international roaming is one of the key advantages driving its eSIM market growth.
Despite the recent COVID-19 disruption, the eSIM technology kept garnering significant market prominence, witnessing significant changes in people's lifestyles. Industry players are leveraging eSIM card benefits to ensure that the internet and communication systems continue to provide their services uninterruptedly in line with increasing needs.
The deployment of relevant servers for eSIM systems is developed by information technologies, and the communication authority complies with the domestic requirement and GSMA standards. With the help of the eSIM chip installed and managed remotely, a higher security and protection level can be provided. In the future, the eSIM application will provide serious access and ease of use both between machines and consumer devices.
The proliferation of industrial automation and the adoption of automation & control technologies that offset higher wages and increase efficiency have highlighted the crucial need for the eSIM network. Resultantly, the global eSIM industry began to garner traction, witnessing continually increasing investments.
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Market USP Exclusively Encompassed:
eSIM Market Drivers
With eSIM, subscribers can make operator changes without going to dealers, which helps eliminate costs arising from device procurement. Moreover, problems such as buying, stocking, and installing the SIM card can be eliminated. Besides, eSIM features remain unaffected by problems such as vibration, impact, and moisture in vehicles and other devices.
eSIM chip is a key innovation in telecommunication, improving connectivity operations. The eSIM technology restricts sensitive SIM card information to local uses without allowing other countries to access the sensitive data ensuring enhanced information security. Resultantly, eSIM users are increasing rapidly, boosting the growth of the market.
Most businesses rely on mobile devices to operate and access data in the cloud. Also, cellular-enabled connectivity solutions for the large-scale global deployment of IoT devices are increasing significantly. The rise in the M2M connections globally shows immense opportunities in the eSIM market.
It is also projected that most eSIM-based devices will have a hardware chip-based eSIM solution until 2025, substantiating the adoption of integrated SIM-based solutions. Furthermore, rising uses of eSIM-embedded smartphones and smartwatches to make it easier to manage devices and accounts, alongside the proliferation of enterprise IoT devices, would significantly influence the eSIM market share.
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Segmentation of Market Covered in the Research:
The eSIM market is segmented into end-user and regions. The end-user segment is further sub-segmented into automotive, energy & utilities, manufacturing, retail, consumer electronics, and transportation & logistics. Among these, the consumer electronics segment accounts for the largest market share. The segment is predicted to generate exponential revenues during the evaluation period.
The manufacturing segment accounts for a substantial market share, owing to the rise in the implementation of IoT industrial solutions. The segment is likely to rise at an impressive CAGR during the forecast period. By regions, the market is segmented into Americas (US, Canada, Mexico, Rest-of-North America), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), Europe (Germany, UK, France, Italy, and Rest-of-Europe), and Rest-of-the-World.
Regional Analysis
North America leads the global eSIM market and will continue to maintain its market position throughout the assessment period. Technological advances, early migration to eSIM, and the early adoption of advanced IoT and artificial intelligence (AI) technologies drive the eSIM market growth. Besides, the presence of many eSIM network service providers, such as AT&T, Deutsche Telekom AG, Verizon Wireless, and Virgin Mobile, across the region boosts the market growth.
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Competitive Landscape
The eSIM market appears extremely fragmented, considering the presence of established manufacturers. Eminent players seek opportunities to integrate across the extensive value chain while focusing on expanding production capacities, R&D investments, and M&A activities to gain additional impetus.
They strive to deliver reliable, leading-edge embedded SIM cards for embedded SIM market applications, substantially investing in developing adept technologies and products like embedded SIM chips to gain impetus.
For instance, on Apr. 04, 2022, Google announced its plan to revolutionize eSIMs with Android 13. The tech giant would use multiple enabled profiles (MEP) that can allow multiple active SIM profiles on one eSIM, connecting to two different carriers simultaneously.
In another instance, on Jan. 05, 2021, International networking and ICT services firm Tata Communications announced the acquisition of a 58.1% stake in Oasis Smart SIM (France), a leading embedded SIM (eSIM) technology specialist. Oasis develops and provides advanced technologies and personalized services to enable the deployment of eSIM and SIM technologies.
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