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eSIM Market 27.36% of CAGR with Growing Industry Opportunities by 2027

The embedded SIM (eSIM) market is predicted to witness a significant growth rate during the forecast period. The growth is majorly attributed to the substantial adoption of IoT technology across industries. The network connectivity has become an integral component of any manufacturing facility. The growth of the embedded SIM (eSIM) market also pertains to the presence of a large number of well-established players and emerging companies across the globe. Additionally, strong assistance from associations such as GSMA, European Telecommunications Standards Institute (ETSI), North American Telecommunications Association, and Telecommunications Industry Association is catalyzing the embedded SIM (eSIM) market players to enhance their technology, which is attracting an increased number of end users.

The report highlights the key factors driving the market growth, and prominent players and their developmentsin the market.

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With continuous technological advancements in the field of SIM, several telecom companies and SIM developers have developed and commercialized embedded SIM, also known as embedded Universal Integrated Circuit Card (eUICC). Unlocking the potential for M2M communication, eSIM has significantly marked a new shift to the market. Various mobile networks are delivering connectivity to a broad range of devices with the help of eSIM. The machine-machine (M2M) communication is steadily growing in variety of applications across the globe. The M2M technologies are transforming the organization’s operational pattern and are creating new revenue generation streams.

COVID-19 Impact on eSIM Market

According to World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 as well. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global eSIM market as they are the major demand generation industries for eSIMs. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that is suffering serious disruptions due to supply chain issues and manufacturing shutdowns.

Key Players Influencing the Market

 

  • DEUTSCHE TELEKOM AG
  • Gemalto N.V.
  • GieseckeDevrient GmbH
  • IDEMIA
  • INFINEON TECHNOLOGIES AG
  • NXP SEMICONDUCTORS N.V.
  • Sierra Wireless, Inc.
  • STMicroelectronics N.V.
  • TELEFÓNICA S.A.
  • VODAFONE GROUP PLC

 

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The report segments the global eSIM market as follows: 

By Application

  • Connected Cars
  • Laptops and Tablets
  • M2M
  • Smartphones
  • Wearable
  • Others

By Vertical

  • Consumer Electronics
  • Automotive
  • Energy and Utilities
  • Manufacturing
  • Retail
  • Transportation and Logistics
  • Others

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