eSIM Market to Reach USD 5420 Million by 2030, Driven by Increasing Demand for Connected Devices and IoT Applications: Verified Market Research®

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Apr 25, 2023, 10:15 ET

The "Global eSIM Market By Application (Connected Cars, Laptops, M2M), By Vertical (Consumer Electronics, Energy And Utilities), By Geographic Scope & Forecast, 2023-2030" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global eSIM Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., April 25, 2023 /PRNewswire/ -- The Global eSIM Market is projected to grow at a CAGR of 28.2% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 540 Million in 2021 and is expected to reach USD 5420 Million by the end of the forecast period.

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Browse in-depth TOC on "eSIM Market"

202 - Pages

126 – Tables

37 – Figures

Global eSIM Market to Grow at a Rapid Pace with Increasing Adoption of Embedded SIM Technology

The global eSIM market is poised to grow rapidly over the next decade, with a projected value of USD 5420 million by 2030. The market drivers for eSIM technology are based on the embedded SIM or embedded universal integrated circuit card (eUICC) technology, which allows for programmable SIM cards that can support multiple SIM profiles. eSIMs offer a level of security similar to traditional SIM cards, with the added benefit of over-the-air (OTA) updates.

The GSMA, which manages traditional SIM cards, also supports eSIM technology and has defined it as the next-generation technology for connected consumer products. With eSIMs, consumers and businesses can enjoy increased operational flexibility, eliminating the need to switch service providers and optimizing operator efficiency. This is a primary driver for the global eSIM market.

The features provided by eSIMs make them useful for a wide range of applications in areas such as electronics, home IoT applications, industrial applications, logistics, and machine-to-machine solutions. The remote positioning feature allows for easy-to-activate machine-to-machine solutions, while the ability to remotely change SIM profiles provides added convenience for users.

Prominent players in the global eSIM market include Gemalto NV, Deutsche Telekom AG, Sierra Wireless Inc, Singapore Telecommunications Limited, STMicroelectronics, Telefónica, Infineon Technologies AG, NTT DOCOMO, NXP Semiconductors NV, and Giesecke & Devrient GmbH. With the increasing adoption of embedded SIM technology, these companies are poised to capitalize on the growing demand for eSIMs.

Overall, the global eSIM market is expected to grow rapidly in the coming years, with the adoption of eSIM technology disrupting the traditional SIM card market. The flexibility, security, and convenience offered by eSIMs make them an attractive option for consumers and businesses alike.

Based on the research, Verified Market Research® has segmented the global eSIM Market into Application, Vertical, And Geography.

eSIM Market, by Application

Connected Cars
Laptops
M2M
Smartphones
Others

eSIM Market, by Vertical

Consumer Electronics
Energy & Utilities
Manufacturing
Retail
Others

eSIM Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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