Global eSIM Market to Surpass US$ 19.3 Bn by end of 2027, Says Coherent Market Insights

SEATTLE, Feb. 7, 2022 /PRNewswire/ -- According to Coherent Market Insights, The global eSIM market was valued at US$ 8.3 Bn in 2019 and is expected to reach US$ 19.3 Bn by 2027 at a CAGR of 15.9% between 2020 and 2027.

An ESIM, or Embedded Universal Integrated Circuit Card, is a generic form of non-volatile programmable universal integrated circuit card. It works just like a standard SIM card. It contains stored configurations and can be programmed through connecting the card to a computer or a modem. Esim was developed for the telecommunications industry, specifically for the implementation of network attached storage (NAS). The primary use of esim is for mass production of microsemi switches and other embedded transceivers. There are several manufacturers that provide support for esim based cards. Esim manufacturers support esim through hardware and firmware updates, software upgrades, and their own brand of esim cards. Esim is used in a variety of different types of networking equipment, including digital cellular phones, laptop computers, desktop computers, modems, wireless personal area networks, distribution equipment's, printers, fax machines, and much more.

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Market Drivers:

Growing demand for Esim from tablets, smartphones, and others is driving growth of the market. Recent studies since 2019 suggest that there has been a major jump in the daily hour usage of smartphones per user. "There is nearly a 39 per cent increase in smartphone usage from 2019. Such rise in usage of smartphone is propelling growth of the market. The growth is also attributed to the increasing disposable income of consumers. According to the National Bureau of Statistics (NBS), China's rural and urban per capita disposable income reached US$ 5,658.45 from US$ 2,107.2 in 2018.

Technological advancement is another key factor propelling growth of the market. For instance, in June 2021, EMnify, announces the release of eSIM for evaluation customers, enabling IoT developers to sign up and develop with the EMnify API immediately, anywhere in the world. The eSIM lets users install EMnify's global SIM profile on a compatible device in seconds without having to order and swap physical SIM cards.

Market Opportunities

Growing application of Esim from retail, energy, transportation, automotive and many others is projected to provide lucrative growth opportunities. For example, in February 2018, NXP Semiconductor, Netherland based semiconductor manufacture company launched eSIM enabled devices for 5G and IoT applications. These devices provides end-to-end security in order to provide safe data protection for consumers, service providers and original equipment manufacturers. Similarly, in October 2021, Valid has launched a state of art mioSIM eSIM for Consumer 3.0 solution ready to answer the industry demand for secure transversal applications with the support of Android Strongbox technology – an Android Ready SE applet responsible for the secure provisioning of Android keys

Increasing penetration of smart meters, smart cities, and electric vehicles is expected to bring bright opportunities to the Esim market. For instance, in November 2018, Workz Group, Dubai based company that offer SIM provisioning solutions announced an agreement with the African government to implement embedded eSIM enabled water meter in the country.

Market Trends

Growing popularity of integration of devices with eSIM will favour the growth of the eSIM market. For instance, in June 2021, SIMCom announced that the SIMCom NB-IoT SIM7070 module measuring only 24 mm x 24 mm can now be equipped with a compact eSIM security controller from Infineon powered by GSMA-compliant remote SIM management software provided by Kigen (UK) Ltd.

Key players are adopting strategic partnership to develop Esim that help to reduce complexity in manufacturing operations and also streamline process. For instance, in August 2021, AT&T and Kigen are working together to help customers streamline their supply chains and reduce the time to market for enterprises who want to leverage SIM, embedded SIM (eSIM) and integrated SIM (iSIM) secured connectivity deep in their IoT devices.

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Competitive Landscape:

Major players operating in the global eSIM market include Infineon Technologies AG, STMicroelectronics, Deutsche Telekom AG, Giesecke+Devrient Mobile Security GmbH, Thales Group, KORE Wireless, Arm Limited, Truphone Limited, Workz Group, Sierra Wireless, NXP Semiconductors, AT&T.

Market segmentation:

Global eSIM Market, By Application:

• Connected Cars
• Laptops
• M2M
• Smartphones
• Tablets
• Wearables
• Others
• Drones
• Smart Meters
• Smart Grids

Global eSIM Market, By Vertical:

• Automotive
• Consumer Electronics
• Energy & Utilities
• Manufacturing
• Retail
• Transportation & Logistics

Global eSIM Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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SOURCE Coherent Market Insights