eSIM Market Predicted to Reach USD 2,282.27 million with a CAGR of 27.36% from 2020 to 2027
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.
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Various mobile networks are delivering connectivity to a broad range of devices with the help of eSIM. Machine-machine (M2M) communication is steadily growing in a variety of applications across the globe. The M2M technologies are transforming the organization's operational pattern and are creating new revenue generation streams.
The automotive, manufacturing, and consumer electronics industries are among the leading industries to integrate their manufacturing facilities with M2M communication technologies in order to facilitate communication. The acceptance of the connected ecosystem has revolutionized the industries such as manufacturing, utilities, automotive, and others.
The advent of 5G and M2M communication are significantly driving the global eSIM market.M2M, along with the offerings of eSIM to drive socio-economic benefits to industries and government. It has led to unlocking new areas of revenue growth. The key factors for the demand for M2M communication are increasing operational efficiencies and a high focus on customer experiences. Moreover, the evolving partnership in the digital ecosystem is creating significant opportunities for network providers and M2M service providers.
Growth in the adoption of M2M communication is creating significant opportunities for eSIM providers. Global M2M communication is expected to cross US$35 billion by 2022. This high growth in M2M communication is expected to create significant global demand for eSIM.
The List of companies - eSIM Market
Deutsche Telekom AG, Gemalto NV, Giesecke + Devrient Mobile Security GmbH, IDEMIA, Infineon Technologies AG, NXP Semiconductors N.V., Sierra Wireless, STMicroelectronics, Telefónica S.A, and Vodafone PLC are the leading players operating in the embedded SIM (eSIM) market. Several other players are also functioning and are contributing significant revenues in the embedded SIM (eSIM) market.
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 the COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take the 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, semiconductors, automotive, and IT infrastructure. All these industries are crucial for the growth of the 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.
Major highlights of the report:
All-inclusive evaluation of the parent market
Evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of market value and volume in past, present, and forecast years
Evaluation of market share
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Lucrative strategies to help companies strengthen their position in the market
ESIM Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global ESIM market.
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The key findings and recommendations highlight crucial progressive industry trends in the ESIM market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
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