The global eSIM market size is estimated to reach USD 24.96 billion by 2027, expanding at a CAGR of 15.8%, according to a study conducted by Grand View Research, Inc. Growing adoption of IoT devices among end-use applications is acting as a stimulus for the market growth. Moreover, eSIM offers remote provisioning for the critical IoT applications, which requires remote monitoring, where safety and maintenance are required. This factor is anticipated to drive the demand over the forecast period.
Furthermore, the size of the eSIMs is much smaller than that of physical SIM cards. Thus, less space is consumed by the chipset when integrated into the device. The device manufacturers are benefitted from the eSIMs technology, as manufacturers can save the SIM slot space where the physical SIM card and its tray occupy a specific area of the device. Thus, factors such as compact design specification and multiple carrier support of the eSIM are propelling the market growth.
Technological advancements in consumer application devices such as smartphones, tablets, and wearables are further bolstering the growth of the market for eSIM. Moreover, high penetration of eSIMs is expected to be in smartphones owing to the compact size of the chipset. As reduced SIM space in the smartphone allows device manufacturers to offer slimmer smartphones. For instance, in 2018, Apple, Inc. launched its iPhone with dual SIM functionality with a Nano-SIM and another e-SIM. Moreover, Apple, Inc. also has integrated eSIM in their tablets and watch series.
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eSIM Market Report Highlights
• The connectivity services segment held the largest market share in 2019, attributed to the connectivity subscriptions from M2M devices
• The hardware segment is anticipated to witness significant CAGR over the forecast period owing to adoption of eSIM technology among smartphone manufacturers
• The consumer electronics segment is estimated to expand at a significant CAGR of over 17.0% during the forecast period owing to technological advancements and IoT connectivity among the devices
• Europe is expected to witness significant CAGR of over 14.0% over the forecast period, attributed to the presence of major market players such as Giesecke+Devrient Mobile Security GmbH, Gemalto NV, and ARM Holdings
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eSIM Market Segmentation
Grand View Research has segmented the eSIM market on the basis of solution, application, and region:
eSIM Solution Outlook (Revenue, USD Million, 2016 – 2027)
• Connectivity Services
eSIM Application Outlook (Revenue, USD Million, 2016 – 2027)
• Consumer Electronics
• Energy & Utilities
eSIM Regional Outlook (Revenue, USD Million, 2016 – 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
List of Key Players in the eSIM Market
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Deutsche Telekom AG
• Giesecke+Devrient Mobile Security GmbH
• Gemalto NV
• ARM Holdings
• KORE Wireless Group Inc.
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Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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