The global eSIM market size is expected to reach USD 21.87 billion by 2028 according to a new study by Polaris Market Research. The report “eSIM Market Share, Size, Trends, Industry Analysis Report, By Solution (Hardware, Connectivity Services); By Application (Consumer Electronics, M2M); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Key factors responsible for the industry growth include the rapid surge in usage in the number of IoT devices across different end-use verticals, such as consumer electronics, automotive, and energy & utilities, along with growing technological developments in eSIM. Using this, one can support manifold accounts, enable switching to several mobile network operators (MNOs), and manage accounts by revising the software settings from the user’s devices.
Based on application, the consumer electronic segment accounted for a leading stake in the global industry, owing to the growing technological innovations. The M2M segment is witnessing a significant growth rate, owing to the rising adoption of the product in the automotive industry for promoting M2M connectivity and the increasing development of connected and autonomous vehicles.
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In July 2019, Hewlett Packard Enterprise (HPE) announced to invest US$ 500 million to catalyst India’s IoT ecosystem. Similarly, in July 2019, Samsung Venture Investment Corporation announced to invest USD 8.5 million across four Indian Startups to boost IoT. Likewise, in 2018, Brazil aimed to invest USD 4 million in the implementation of the IoT to companies’ interest in installing the technology in the country.
Major participants such as AT&T, ARM Holdings, Deutsche Telekom AG, Etisalat, Gemalto NV, Giesecke+Devrient Mobile Security GmbH, Infineon Technologies AG, KORE Wireless Group Inc, NTT Docomo, NXP Semiconductors N.V, Orange, Sierra Wireless, Sinch, Singtel, STMicroelectronics, Telenor Connexion, Telit, Vi™ are some of the key players operating in the global industry.
Several companies or market players are often backing to opt for varied marketing strategies to expand their business operations globally. In June 2021, India-based Vodafone Idea (Vi) unveiled its new embedded SIM or eSIM facility for its postpaid consumers in Kolkata utilizing eSIM compatible with Samsung and Apple flagship smartphones. Such initiatives drastically contribute towards the higher growth of the global industry.
Polaris Market Research has segmented the eSIM market report on the basis of solution, application, and region:
eSIM, Solution Outlook (Revenue – USD Million, 2016 – 2028)
- Connectivity Services
eSIM, Application Outlook (Revenue – USD Million, 2016 – 2028)
- Consumer Electronics
eSIM, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa