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E-SIM Card Market Swift Uptake of Industry 4.0 Technology Propels Europe Market
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A report by Transparency Market Research projects the global E-SIM card market to expand at an impressive 13.5% CAGR between 2017 and 2025. At this rate, the market is expected to be pegged at US$14,613.1 mn by 2025 increasing from US$4,095.6 mn in 2016.
Swift Uptake of Industry 4.0 Technology Propels Europe Market
The global E-SIM card market based upon application is segmented into machine to machine (M2M), wearable and companion devices, smartphones, and tablets and laptops. Of them, M2M led the market in 2016 in terms of revenue contribution. Embedded Sim for smartphones is expected to be launched in 2019. The segment is expected to display a robust CAGR of 26.3% between 2019 and 2025.
Geographically, the key segments of the global E-SIM card market are North America, Asia Pacific, Europe, the Middle East and Africa, and South America. In 2016, Europe stood as the leading revenue generator with North America second in position. Supremacy of Europe is primarily due to favorable government initiatives for the swift uptake of industry 4.0 technology and solutions.
Ease of Switch of Mobile Network Operator Pushes Demand
There are several key factors bringing about growth in the global E-SIM card market. First and foremost, E-SIM card provides the ability to change network provider Over the Air (OTA) in real time. Users of embedded SIM can change mobile network operator (MNO) at ease with few clicks on the device in real time thereby preventing users to incur international roaming charges. For instance, ability to switch network provider over the air in M2M systems such as in smart meters and connected cars has substantial advantages in terms of reducing logistics and operational costs. This is leading to the rising adoption of M2M products.
Amongst other advantages, standardization of technical specifications for Embedded Sim technology offers enhanced security as compared to traditional Sim card. Embedded Sim technology is standardized by Groupe Speciale Mobile Association, which includes more than 800 mobile operators worldwide. Further, compact design of E-SIM allows original equipment manufacturers (OEMs) to utilize the saved space to either increase the battery size or provide additional storage in devices such as smartphones and tablets.
Usability for Emergency Services Ramps up Adoption
Another key factor providing opportunity to the growth of E-SIM card market is the increasing adoption of E-SIM card in consumer electronics and in the automotive industry. Embedded Sim in automobiles is used for real-time navigation, infotainment services such as weather information, traffic, and insurance and breakdown services. Other uses of E-SIM card in the automotive industry include remote vehicle monitoring, automatic placing of an emergency call in the event of an emergency, and assumption of car control if driver loses consciousness.
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Proving a hindrance to the growth of global E-SIM cards market is plausible resistance of adoption of E-SIM card by MNOs as they eliminate the need for customers to visit a physical store for face-to-face communication with the network provider. This enhances customer’s bargaining power directly or indirectly, says the lead analyst of the study.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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