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Global eSIM Market: Rising Adoption of IoT Devices, Expanding 5G Networks and Emerging Market Trends
eSIM Market Size
What Is The Projected Market Size Of The Global eSIM Market And Its Growth Rate?
The eSIM market has experienced significant growth in recent years with several factors contributing to this upward trend:
• The market size is poised to grow from $10.76 billion in 2024, to $12.08 billion in 2025 at a CAGR of 12.3%.
• Critical factors attributing to this growth include increasing adoption of IoT devices, rising mobile connectivity needs, globalization and cross-border connectivity, security and authentication requirements, along and demand for compact integrated solutions.
• The market is anticipated to reach $20.53 billion in 2029 with a CAGR of 14.2%.
• Forecasted growth factors are continued growth in IoT connectivity, expansion of 5G networks, emergence of new use cases, increasing mobile device proliferation, and rising demand for remote SIM provisioning.
What Is Driving The Growth In The eSIM Market?
eSIM market's growth is primarily attributable to the increasing penetration of smartphones. These devices, possessing advanced capabilities, incorporate eSIMs, allowing for software-reprogramming of SIM contents and enhancing user convenience through the elimination of SIM card replacement requirements. As evidence, the global count of smartphone users stood at 6.8 billion in 2023, marking an increase from 6.6 billion users in 2022 according to Demand Sage. This increasing prevalence of smartphones bolsters the growth of the eSIM market.
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Who Are the Key Players Driving eSIM Market Growth?
Key players operating in the eSIM market include:
• Infineon Technologies AG
• NXP Semiconductors N.V
• Samsung Group
• STMicroelectronics
• CEC Huada Electronic Design Co Ltd
• Eastcompeace Technology Co Ltd
• Valid S.A.
• Microchip Technology Incorporated
• Sony Group Corporation
• EM Microelectronic
What Are The Key Trends In The eSIM Market?
Recent trends in the eSIM market include:
• IoT proliferation
• Embedded sims in smart home devices
• Cross-industry collaboration
• Integration with blockchain technology
• Emphasis on security and authentication focus
What Are The Segments Of The Global eSIM Market?
The global eSIM market segments include:
1) By Solution: Hardware, Connectivity Services
2) By Application: Connected Cars, Laptops, M2M, Smartphones, Tablets, Wearables, Other Applications
3) By Vertical: Automotive, Consumer Electronics, Energy And Utilities, Manufacturing, Retail, Transportation And Logistics
Which Region Leads The eSIM Market?
North America emerged as the largest region in the eSIM market in 2024. Coverage of the eSIM market report spans through Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The eSIM Market Global Market Report?
- Market Size Analysis: Analyze the eSIM Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the eSIM Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall eSIM Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the eSIM Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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