Press release
eSIM Market is Booming and Predicted to Hit 43.6 Billion by 2032 | CAGR of 17.56%
eSIM Market
Base Year: 2023
Forecast Years: 2024-2032
Historical Years: 2018-2023
Units: USD Billion
Market Size in 2023: USD 10.2 Billion
Market Forecast in 2032: USD 43.6 Billion
Market Compound Annual Growth Rate 2024-2032: 17.56%
IMARC Group's latest research report, titled "eSIM Market Report by Type (Data-Only eSIM, Voice, SMS and Data eSIM), Solution (Hardware, Connectivity Services), Application (Connected Car, Smartphone and Tablet, Wearable Device, M2M, and Others), Industry Vertical (Automotive, Consumer Electronics, Manufacturing, Telecommunication, Transportation and Logistics, and Others), and Region 2024-2032," offers a comprehensive analysis of the eSIM market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. The global eSIM market size reached USD 10.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 43.6 Billion by 2032, exhibiting a growth rate (CAGR) of 17.56% during 2024-2032.
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eSIM Market Trends:
The global market is primarily driven by the growing adoption of IoT devices and connected technologies, as eSIM technology simplifies device management and enhances connectivity. Moreover, the rising demand for smartphones and smartwatches that integrate eSIMs is propelling the market expansion. The increasing popularity of machine-to-machine (M2M) communication in industries such as automotive and healthcare also supports the eSIM market. Furthermore, the shift toward remote SIM provisioning, which allows users to switch networks without changing physical SIM cards, is attracting more attention from mobile network operators.
Additionally, regulatory support for eSIM adoption in various countries encourages widespread use. The reduced operational costs and the enhanced security features of eSIMs compared to traditional SIM cards further enhance market growth. Besides, the growing consumer preference for flexible connectivity options is contributing to the rising demand for eSIMs in various devices.
Leading key Players Operating in the eSIM Industry:
• Apple Inc
• Arm Limited
• AT&T Inc
• Deutsche Telekom AG
• Giesecke+Devrient GmbH
• IDEMIA
• Infineon Technologies AG
• NTT Docomo Inc. (Nippon Telegraph and Telephone Corporation)
• NXP Semiconductors N.V.
• Samsung Electronics Co. Ltd
• Sierra Wireless
• STMicroelectronics
• Telefónica S.A
• Thales Group
• Vodafone Group Plc
eSIM Market Scope and Growth Analysis:
The scope of the market is broadening due to the growing use of eSIMs in connected vehicles, which facilitates better communication between vehicles and infrastructure. Moreover, eSIM technology is expanding its presence in consumer electronics, including laptops and tablets, offering seamless global connectivity. Furthermore, market growth is supported by ongoing advancements in 5G technology, which makes eSIM-enabled devices more appealing due to faster network speeds and lower latency.
Additionally, eSIM adoption in industries such as smart manufacturing and logistics is widening the market's application base. The market's global scope is also expanding through partnerships between telecom providers and eSIM solution developers, enhancing compatibility and availability across regions. Besides, government initiatives promoting smart cities and smart infrastructure are driving the deployment of eSIMs in various IoT applications.
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Key Market Segmentation:
Breakup by Type:
• Data-Only eSIM
• Voice, SMS and Data eSIM
Data-only eSIMs represent the largest segment by type due to their widespread use in devices that require data connectivity without the need for traditional voice services, such as tablets and laptops.
Breakup by Solution:
• Hardware
• Connectivity Services
Hardware holds the largest segment by solution in the eSIM market, as the physical component is essential for enabling the connectivity and functionality of eSIM technology in various devices.
Breakup by Application:
• Connected Car
• Smartphone and Tablet
• Wearable Device
• M2M
• Others
Machine-to-Machine (M2M) communication leads the application segment, driven by the increasing adoption of IoT devices and the need for efficient, uninterrupted connectivity in industrial and consumer applications.
Breakup by Industry Vertical:
• Automotive
• Consumer Electronics
• Manufacturing
• Telecommunication
• Transportation and Logistics
• Others
The automotive industry emerges as the largest segment by industry vertical, due to the rising integration of eSIMs in vehicles for enhanced connectivity, infotainment, and telematics services.
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
North America is the largest market by region, attributed to the early adoption of advanced telecommunications technologies, including eSIM, and the presence of key market players in the region.
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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Contact Us:
IMARC Group
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Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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