eSIM Market Growth Set to Surge Significantly during 2024 to 2031: Key Players : Infineon Technologies AG, STMicroelectronics

Market Overview:

An eSIM, also known as an embedded SIM, is a programmable integrated circuit that securely stores an international mobile subscriber identity (IMSI) number and allows users to switch mobile network operators on IoT devices and smartphones without needing to physically swap SIM cards. eSIMs enable digital activation of cellular connectivity globally.

Market Dynamics:

The eSIM market is witnessing high growth owing to increasing adoption of IoT devices among end-use industries and growth in smartphone adoption. IoT connections are forecast to grow exponentially over the coming years with 5G network rollouts. By 2031, there will be over 25 billion actively connected IoT devices. This rapid growth in IoT devices will drive demand for eSIM to remotely provision and manage cellular connectivity of IoT devices seamlessly across different mobile networks. Furthermore, smartphone manufacturers are also increasingly adopting eSIM technology in smartphones to deliver enhanced connectivity experience to users such as dual SIM functionality and seamless activation of new mobile plans while traveling abroad without needing multiple physical SIM cards.

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ESIM Market Opportunity:

Growing enterprise demand for eSIM-powered IoT/M2M connectivity

A major opportunity area for the eSIM market lies in the burgeoning demand for embedded wireless connectivity solutions from enterprises across various industry verticals. The ability of eSIM technology to enable reliable yet fully programmable and remotely manageable connectivity makes it ideally suited for powering IoT/M2M deployments. Using eSIMs, companies can provision devices with cellular access automatically at global scale pre- and post-deployment without physical intervention. This brings significant operational efficiencies to asset tracking, telematics, smart city and other solutions. As more mission-critical enterprise applications adopt IoT, the need for robust eSIM-based connectivity platforms will grow substantially. Leading IT and networking vendors already offer integrated eSIM management capabilities as part of their wider IoT offerings targeting industries including logistics, utilities, healthcare and manufacturing. Service providers also target the high-revenue enterprise eSIM space with value-added solutions. This presents a major growth driver for eSIM suppliers in both business and infrastructure segments.

Top Companies Covered In This Report:

Infineon Technologies AG, STMicroelectronics, Deutsche Telekom AG, Giesecke+Devrient Mobile Security GmbH, Thales Group, KORE Wireless, Arm Limited, Truphone Limited, Workz Group, Sierra Wireless, NXP Semiconductors, AT&T.

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ESIM Market Drivers:

Mobile device OEMs are increasingly adopting eSIM technology

A major eSIM market driver is the increasing adoption of eSIM technology by mobile device manufacturers (OEMs). Top OEMs such as Apple, Samsung, and Google are integrating eSIMs into many of their flagship smartphone and tablet models, anticipating growing consumer demand for eSIM functionality. With eSIMs enabling features such as dual-SIM connectivity and seamless carrier switching, OEMs see eSIM integration as a way to increase device sales and strengthen brand loyalty. Major smartphone vendors now typically offer at least one model per year with eSIM compatibility. As additional OEMs follow suit and more mobile devices come eSIM-ready as standard, the installed base of eSIM-compatible devices will expand significantly in the coming years. This will drive greater eSIM adoption rates as cellular connectivity becomes available via embedded technology rather than physical SIM cards.

Connectivity services are moving towards virtualization

Another key driver for the eSIM market is the trend towards virtualization of cellular connectivity services. As mobile network operators (MNPs) and Mobile Virtual Network Operators (MVNOs) look to streamline operations and enable more flexible service provisioning, virtual and embedded SIM technology allows for remote SIM provisioning that is fully decoupled from any physical SIM infrastructure. eSIMs facilitate immediate activation and switching of cellular plans from providers around the world. This benefits both end users through greater choice and flexibility, as well as MNPs/MVNOs seeking to offer new digitized connectivity solutions. The rise of IoT applications relying on programmable connectivity further emphasizes the importance of virtual SIM capabilities that eSIM delivers. In response, major service providers worldwide have implemented eSIM support into their cellular networks, future-proofing their infrastructure for the virtualization of mobile services.

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The report answers a number of crucial questions, including:

Which companies dominate the global eSIM market?
What current trends will influence the market over the next few years?
What are the market's opportunities, obstacles, and driving forces?
What predictions for the future can help with strategic decision-making?
What advantages does market research offer businesses?
Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
What is the anticipated growth rate for the eSIM market economy globally?

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This release was published on openPR.