The eSim market is estimated to grow from USD 253.8 Million in 2018 to USD 978.3 Million by 2023, at a CAGR of 31.0% between 2018 and 2023. The growth is attributed to the emphasis on remote SIM provisioning for M2M, favourable government regulations boosting M2M communication, and high adoption of IoT technology.
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ESIM market for the Smartphone application to grow at the
highest rate between 2018 and 2023"
The
growing demand for high-bandwidth applications and rising persistent
connectivity on Smartphone’s are likely to spur the growth of the eSIM market
for the smartphone application during the forecast period. Smartphone vendors
are endeavoured to bring eSIM into their smartphone offerings to gain a
competitive edge in the market. For example, Google LLC (US) launched Pixel 2
and XL models with eSIM in October 2017. After
Google, major giants such as Apple Inc. (US) and Samsung (South Korea) are expected to integrate eSIM into their
flagship smartphones, and this trend is likely to be followed by key smartphone
manufacturers such as Huawei Technologies Co., Ltd. (China),
OPPO Electronics Corp. (China), and Xiaomi Inc.
(China).
Consumer Electronics vertical leads the eSIM market between 2018
and 2023
ESIM
offers ease of roaming or switching. In addition, it is expected that the
adoption of eSIMs will reduce carrier replacement barriers. This is likely to
increase the competition among telecom operators, thereby benefitting
consumers. The rising adoption of high-speed data transfer technologies such as
4G and 5G, increasing social engagement activities across the world, and
ongoing technological advancements are primarily driving the adoption of eSIMs
in the consumer electronics vertical.
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North America is anticipated to lead the eSIM market by 2023
North America is a forerunner in the adoption of technological
advancements across a myriad of verticals, such as automotive; energy and
utilities; manufacturing; retail; Consumer Electronics; and transportation and
logistics. These advancements are primarily aimed to deliver compact and
low-power consumption products. Owing to this, North
America is anticipated to lead the eSIM market during the forecast
period. In addition, North America is
a key region in the development and evolution of M2M technology. This region is
home to some of the major multinational companies catering to the M2M market.
Owing to this, North America is likely
to dominate the eSIM market by 2023.
Major players operating in the eSIM market include Deutsche Telekom AG (Germany), Gemalto NV (Netherlands), Giesecke & Devrient GmbH (Germany), Infineon Technologies AG (Germany), NTT DOCOMO, INC. (Japan), NXP Semiconductors N.V. (Netherlands), Sierra Wireless, Inc. (Canada), Singapore Consumer Electronics Limited (Singapore), STMicroelectronics (Switzerland), and Telefónica, S.A. (Spain).
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