eSIM Market 2024: A Valuation of US$ 43.6 Billion Predicted by 2032
The rising demand for connected devices and IoT applications is driving the global market.
SHERIDAN, WYOMING, UNITED STATES, July 1, 2024 /EINPresswire.com/ — IMARC Group’s latest research report, titled “eSIM Market Report by Type (Data-Only eSIM, Voice, SMS and Data eSIM), Solution (Hardware, Connectivity Services), Application (Connected Car, Smartphone and Tablet, Wearable Device, M2M, and Others), Industry Vertical (Automotive, Consumer Electronics, Manufacturing, Telecommunication, Transportation and Logistics, and Others), and Region 2024-2032,” offers a comprehensive analysis of the eSIM market forecast. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global eSIM market size reached US$ 10.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 43.6 Billion by 2032, exhibiting a growth rate (CAGR) of 17.56% during 2024-2032.
eSIM Market Trends:
The rising demand for connected devices and IoT applications is driving the global market. Additionally, the growing adoption of eSIMs in consumer electronics, such as smartphones, tablets, and wearable devices, is accelerating market growth. Furthermore, the increasing preference for remote provisioning and management of mobile network subscriptions enhances the attractiveness of eSIM technology. The advancements in telecommunications infrastructure, including the rollout of 5G networks, further support the adoption of eSIMs due to their capability to handle complex connectivity requirements.
Moreover, the robust support from regulatory bodies and industry standards organizations for eSIM technology fosters its widespread implementation. Besides, the cost-efficiency and logistical advantages offered by eSIMs, such as reducing the need for physical SIM cards, contribute to market expansion. Additionally, the heightened security features provided by eSIMs, including improved data encryption and authentication mechanisms, drive their adoption across various sectors.
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these key Players Operating in the Industry:
• Apple Inc
• Arm Limited
• AT&T Inc
• Deutsche Telekom AG
• Giesecke+Devrient GmbH
• IDEMIA
• Infineon Technologies AG
• NTT Docomo Inc. (Nippon Telegraph and Telephone Corporation)
• NXP Semiconductors N.V.
• Samsung Electronics Co. Ltd
• Sierra Wireless
• STMicroelectronics
• Telefónica S.A
• Thales Group
• Vodafone Group Plc
eSIM Market Growth Analysis:
The market scope is expanding due to the increasing integration of eSIM technology in automotive applications, enabling advanced features, such as real-time diagnostics, telematics, and infotainment services. The enterprise sector is also expanding the market scope as businesses adopt eSIMs for streamlined device management and enhanced mobility solutions. Moreover, the healthcare industry is leveraging eSIM technology for remote patient monitoring and telemedicine services, further extending the market’s reach.
Additionally, the market is witnessing a rise in demand from the smart manufacturing sector, where eSIMs enable efficient machine-to-machine communication and industrial IoT applications. The evolving consumer preferences for flexible and convenient connectivity solutions are driving the adoption of eSIMs in various smart devices, including smart home systems and personal gadgets. The proliferation of smart city initiatives globally is another factor contributing to the market’s growth, as eSIMs facilitate seamless connectivity for various smart city applications. Furthermore, the increased focus on digital transformation across industries is propelling the adoption of eSIM technology, enabling organizations to achieve operational efficiencies and enhance customer experiences.
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Key Market Segmentation:
Breakup by Type:
• Data-Only eSIM
• Voice, SMS and Data eSIM
Data-only eSIMs represent the largest segment by type due to their widespread use in devices that require data connectivity without the need for traditional voice services, such as tablets and laptops.
Breakup by Solution:
• Hardware
• Connectivity Services
Hardware holds the largest segment by solution in the eSIM market, as the physical component is essential for enabling the connectivity and functionality of eSIM technology in various devices.
Breakup by Application:
• Connected Car
• Smartphone and Tablet
• Wearable Device
• M2M
• Others
Machine-to-Machine (M2M) communication leads the application segment, driven by the increasing adoption of IoT devices and the need for efficient, uninterrupted connectivity in industrial and consumer applications.
Breakup by Industry Vertical:
• Automotive
• Consumer Electronics
• Manufacturing
• Telecommunication
• Transportation and Logistics
• Others
The automotive industry emerges as the largest segment by industry vertical, due to the rising integration of eSIMs in vehicles for enhanced connectivity, infotainment, and telematics services.
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
North America is the largest market by region, attributed to the early adoption of advanced telecommunications technologies, including eSIM, and the presence of key market players in the region.
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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