According to a new market research report published by Acute Market Reports “Embedded SIM Market (Form Factor – Removable and Embedded; Application – Connected Cars, Laptops, Smartphones & Tablets, Wearables and M2M; Industry Vertical – Consumer Electronics, Automotive, Oil & Gas, Energy & Utilities, Manufacturing, Retail and Transportation & Logistics) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the overall embedded SIM (eSIM) market worldwide is set to grow with a CAGR of 25.6% through the forecast period to cross US$ 1,000 Mn by 2026.
The embedded SIM (eSIM) market is rapidly gaining pace, thereby creating numerous opportunities for mobile network operators as well as connected devices manufacturers. With expanding application area of SIM cards to laptops, tablets and connected devices for IoT ecosystem, eSIM cards are set to witness rapid growth over the forecast period. The market is highly driven by their superior advantages over conventional SIM cards. Embedded SIM cards are rugged, available in smaller size, secure and interoperable. Embedded SIM cards enable users to switch between networks without physically interchanging the default chip. In addition, eSIM ease out logistics for mobile network operators (MNOs) by eliminating handling millions of SIM cards (as in case of conventional cards).
Booming IoT sector worldwide is another important factor supporting the market growth. As of 2018, total number of connected devices exceeds 17 Bn, with IoT devices (excluding smartphones, laptops and other mobile devices) surpassing 7 Bn across the globe. By 2022, over 70% of the total IoT devices are expected to be connected using cellular technology, thereby creating enormous opportunities for eSIM market. eSIM cards are believed to be more useful for IoT ecosystem across verticals such as power generation, oil & gas, manufacturing and others. Changing SIM cards in these sectors may prove costly and difficult as most of the IoT devices are located at remote places that are challenging to access. As a result, growing industrial IoT is expected to emerge as the most promising factor bolstering the eSIM market over the following years.
Browse the full report at https://www.acutemarketreports.com/report/embedded-sim-market
On the basis of geography, Europe leads the overall eSIM market worldwide accounting for nearly 40% of the global market size. The market here is primarily governed by the presence of robust IoT sector here. In addition, presence of numerous market players including Gemalto N.V., Giesecke & Devrient GmbH, STMicroelectronics N.V. and NXP Semiconductors N.V. among others. Asia Pacific is projected to register the fastest growth over the forecast period. Countries such as China, Japan and South Korea are among the leading nations in connected devices in Asia Pacific. Additionally, rapidly growing IoT sector in India would further accelerate the regional market growth during the forecast period.
Some of the major companies profiled in the report include STMicroelectronics N.V., Gemalto NV, Deutsche Telekom AG, NXP Semiconductors N.V., Infineon Technologies AG, Giesecke & Devrient GmbH, Vodafone Plc., Idemia France SAS, Sierra Wireless, Inc. and NTT DOCOMO among others.
The Global Embedded SIM (eSIM) Market is Segmented into:
|Segmentation||Form Factor Segment (2016–2026; US$ Mn)|
|Application Segment (2016–2026; US$ Mn)|
|Industry Vertical Segment (2016–2026; US$ Mn)|
|Geography Segment (2016–2026; US$ Mn)|
*Complete segmentation list is on report page
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