Press release
eSIM Market Size And Strategies 2024-2033 - Growth Analysis, Outlook, Overview
eSIM Market
The Business Research Company offers in-depth market insights through eSIM Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The esim market size has grown rapidly in recent years. It will grow from $9.69 billion in 2023 to $11 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to increasing adoption of iot devices, rising mobile connectivity needs, globalization and cross-border connectivity, security and authentication requirements, demand for compact and integrated solutions.
The esim market size is expected to see rapid growth in the next few years. It will grow to $17.91 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to continued growth in iot connectivity, expansion of 5g networks, emergence of new use cases, increasing mobile device proliferation, rising demand for remote sim provisioning. Major trends in the forecast period include iot proliferation, embedded sims in smart home devices, cross-industry collaboration, integration with blockchain technology, security and authentication focus.
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Market Segmentation:
The esim market covered in this report is segmented -
1) By Solution: Hardware, Connectivity Services
2) By Application: Connected Cars, Laptops, M2M, Smartphones, Tablets, Wearables, Other Applications
3) By Verical: Automotive, Consumer Electronics, Energy And Utilities, Manufacturing, Retail, Transportation And Logistics
Major Driver - Smartphone Penetration Fuels Exponential Growth In The Esim Market
The increasing penetration of smartphones is significantly contributing to the growth of the eSIM market going forward. A smartphone refers to a mobile phone with highly advanced functions. eSIMs are built into consumer devices such as smartphones, allowing the user to re-program sim contents such as the international mobile subscriber identifier (IMSI) and network carrier profiles via software, eliminating the requirement for SIM card replacement. For instance, in July 2023, according to Demand Sage, a US-based Google Sheets-based revenue operations platform, in 2023, the global count of smartphone users stood at 6.8 billion, marking an increase from around 6.6 billion users in 2022. Additionally, according to the Pew Research Center, a nonpartisan American think tank, the percentage of Americans who own a smartphone climbed from 81% in February 2019 to 85% in February 2021, which was just 35% a decade ago (in 2011). Therefore, the increasing penetration of smartphones will drive the eSIM market.
Competitive Landscape:
Major companies operating in the esim market report are Infineon Technologies AG, NXP Semiconductors N.V, Samsung Group, STMicroelectronics, CEC Huada Electronic Design Co Ltd, Toshiba Corporation, On Semiconductor Corporation, Eastcompeace Technology Co Ltd, Valid S.A., Microchip Technology Incorporated, Analog Devices Inc, Sony Group Corporation, EM Microelectronic, Watchdata Technologies Ptd Ltd, CardLogix Corporation, Gemalto (now Thales Digital Identity and Security), IDEMIA, Giesecke+Devrient, Sierra Wireless, Deutsche Telekom AG, Telit, Arm Holdings, Vodafone Group, Telefónica, Cubic Telecom, Truphone, Workz Group, KORE Wireless, Kigen, Cisco Systems .
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Top Trend - Digital 5G Tourist Esim For Effortless Connectivity
Major companies operating in the eSIM market are focused on developing digital 5G tourist eSIM with unique features such as a digital and convenient activation process to meet the growing demand from international travelers. A digital and convenient activation process refers to a method of initiating and enabling services or functionalities using electronic means, typically through online platforms or applications. For instance, in September 2023, Singtel, a Singapore-based telecommunications company launched 5G Tourist eSIM to meet the growing demand from international travelers. It was aimed to provide enhanced convenience and value, allowing tourists to manage their connectivity needs online before arriving in Singapore. With a focus on the Grand Prix event, the digital 5G Tourist eSIM offers hassle-free activation, saving time spent on traditional SIM card purchases. Singtel seeks to enhance the travel experience, providing seamless connectivity and additional digital experiences with 5G technology.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. eSIM Market Characteristics
3. eSIM Market Trends And Strategies
4. eSIM Market - Macro Economic Scenario
5. eSIM Market Size And Growth
…..
27. eSIM Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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