Global E-Sim Market Overview
The global E- Sim market size was valued at USD 8.1 billion in 2019 and expected to grow at a CAGR of 18.50% during the forecast period of 2020-2026. The key driver impacting the E- Sim market is the rapidly rising number of IoT connected devices in different end-use verticals such as automotive, consumer electronics, and energy and utilities. As per the Federation of American Scientists (FAS), The global IoT is expected to grow approximately 37% from 2017 to $1,567B by 2025, Also, active IoT devices number is estimated to grow from 9.9 billion in 2019 to 21.5 billion in 2025. In addition to this, favorable government regulations together with remote provisioning and longer life are boosting m2m communication, thus, anticipated to increase the E- Sim market demand under the forecast period.
The high adoption of E- Sim due to the rising usage of connected medical devices globally is also estimated to be a key determinant adding growth to the market. Also, the current trend of IoT adoption and increase in the number of M2M connections across the globe level is considered the key factor that positively impacts the market. However, lack of technology awareness among end-users and a smaller number of MNOs supporting eSIM technology globally is likely to restrict E- Sim market growth in the long run. Also, escalating security threats may hamper the global e sim industry in the long run. The current industry trends, such as growing demand for smart solutions and increasing wearable electronics adoption, create new market opportunities for the key players.
The E- Sim market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, In January 2018, Deutsche Telekom extended its Internet of Things ecosystem at the IBM Watson IoT Center in Munich, Germany. The report studies a few key players of the global E- Sim market in detail, covering the company profile, product list, and financial information. The dominating key players included in the report are. Deutsche Telekom AG, Gemalto NV, Giesecke & Devrient GmbH, Infineon Technologies AG, NTT DOCOMO, INC, STMicroelectronics, Telefónica, S.A. always been the primary targets of E- Sim companies and many others.
In this market research report, the market is segmented by application, end user, and region.
Analysis By Applications
By applications, the report is categorized into Connected Cars, Laptops, M2M, Smartphones, and Others. M2M application dominates the application segment in 2019 with a maximum market share. It is expected to maintain its dominancy over the forecast period because eSIM enables effective management and seamless connectivity of M2M devices that are remotely located and often hermetically sealed. Moreover, numerous advantages are associated with the implementation of eSIM in M2M devices, including enhanced reliability and security, sleek design, and no requirement of a connector.
Analysis By End-User
By end-user, the report is categorized into Automotive, Energy & Utilities, Manufacturing, Retail, and Others. The consumer electronics vertical dominates the product segment in 2019 with a maximum market share. It is due to the features such as high connectivity, high reliability, and improved safety are some of the features surging the adoption of eSIMs in consumer electronic applications. Moreover, ever-expanding demand for consumer electronics positively impacting the consumer electronics sector across the globe.
Analysis By Region
In the regional outlook of the global E- Sim market, APAC dominates with the highest share of 32% in 2019. APAC region is the significant region globally driving the market share over a forecast period. The rising adoption of smartphones in countries like India and China is the primary growth factor contributing at a regional level. Moreover, the high penetration of mobile internet and the presence of various mobile networks operator in this region is also positively impacting the E- Sim market in this region. The APAC market is anticipated to provide lots of lucrative opportunities during the forecast period due to its high population base and growing adoption of mobile internet. This leads to heavy investment in offering internet services at a competitive price by mobile network operators, further driving E- Sim market in the region.
Market Segmentation covered in the Report:
By Application
- Connected Cars
- Laptops
- M2M
- Smartphones
- Others
By End-User
- Automotive
- Energy & Utilities
- Manufacturing
- Retail
- Others.
By Region
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.