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Smartphone Penetration Fuels Exponential Growth In The eSIM Market: Strengthening the Growth Trajectory of the eSIM Market
eSIM Market
What Is the Expected CAGR for the eSIM Market Through 2025?
The size of the esim market has seen significant expansion over the past few years, with predictions of further growth from $10.76 billion in 2024 to $12.08 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 12.3%. This historic growth trend can be traced back to the surge in usage of iot devices, heightened demand for mobile connectivity, an increase in globalization and transnational connectivity, along with rising security and authentication needs and a growing demand for small-sized and integrated solutions.
What's the Projected Size of the Global eSIM Market by 2029?
There is an anticipated swift expansion of the esim market size within the coming years, ballooning to a massive $20.53 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 14.2%. This surge over the forecast period can be linked to persistent advancement in IoT connectivity, the broadening reach of 5G networks, the rise of fresh use-case scenarios, the enhanced proliferation of mobile gadgets, and a growing clamour for remote sim provisioning. Key trends anticipated in the forecast timeframe consist of IoT expansion, the incorporation of sim cards in smart home contrivances, inter-industry collaboration, amalgamation with blockchain tech, and an emphasis on security and authentication.
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Top Growth Drivers in the eSIM Industry: What's Accelerating the Market?
The escalating usage of smartphones globally is a significant driver of the eSIM market's progression. Smartphones, being mobile phones equipped with cutting-edge features, nowadays come with inbuilt eSIMs. These eSIMs enable users to alter aspects such as the international mobile subscriber identifier (IMSI) or network carrier profiles through software, obviating the need to replace SIM cards. For example, data from Demand Sage, a US-based platform for revenue operations leveraging Google Sheets, revealed that in July 2023, the worldwide total of smartphone users reached 6.8 billion, reflecting an increase from the approximately 6.6 billion users in 2022. Consequently, the growing prevalence of smartphones is fuelling the expansion of the eSIM market.
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What Trends Will Shape the eSIM Market Through 2029 and Beyond?
Major companies in the eSIM market are focusing their efforts on creating digital 5G tourist eSIM with unique features like a straightforward and digital activation process, specifically designed to cater to the rising needs of international travelers. The digital and easy activation process is a way of initiating and activating services or functionalities employing electronic platforms or applications, usually online. For example, Singtel, a telecommunications company based in Singapore, introduced 5G Tourist eSIM in September 2023 to meet the increasing demand of international tourists. The main goal was to offer added convenience, allowing tourists to handle their connectivity requirements online prior to landing in Singapore. In anticipation of the Grand Prix event, the 5G Tourist eSIM provides stress-free activation, reducing the time usually spent on purchasing traditional SIM cards. Singtel is aiming to improve the travel experience by providing uninterrupted connectivity and supplementary digital experiences using 5G technology.
What Are the Main Segments in the eSIM Market?
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 Vertical: Automotive, Consumer Electronics, Energy And Utilities, Manufacturing, Retail, Transportation And Logistics
Subsegments:
1) By Hardware: eSIM Chips, eSIM Modules, Integrated Circuits (ICs)
2) By Connectivity Services: Remote SIM Provisioning, Mobile Network Operator (MNO) Services, Data Plans And Subscription Services
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Which Top Companies are Driving Growth in the eSIM Market?
Major companies 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, 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
Which Regions Will Dominate the eSIM Market Through 2029?
North America was the largest region in the eSIM market in 2024. The regions covered in the esim market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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