E SIM Market to hit USD 5.77 Billion by 2030, growing at a 31.40% CAGR throughout the assessment period 2022–2030
According to Market Research
Future (MRFR), the global eSIM market will reach USD 5.77 billion by
2030 and will expand at a CAGR of 31.40% over the assessment period (2022–2030).
The rapid growth of this industry is mostly due to the increasing popularity of
embedded SIM (eSIM). Around 2.8 billion smartphone users will reportedly
utilise eSIM by the year 2025.
The rewritable and compatible
with all leading mobile operators worldwide, the eSIM technology offers secured
internet connectivity to consumers as well as IoT devices. Specifications in
terms of data and security mechanisms are standardized to allow
interoperability, enabling remote SIM provisioning to any mobile device. Today,
various smartphones and other personal devices capable of connecting to
cellular networks through eSIM technology are widely available.
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The key players
of the eSIM market are - Singapore
Telecommunications Limited, Telephonic, S.A, Deutsche Telekom AG, NTT DOCOMO
INC, Giesecke & Devrient GmbH, STMicroelectronics , Infineon Technologies
AG, NXP Semiconductors N.V, Gemalto NV, Sierra Wireless.
eSIM Market
Landscape
eSIMs are used in various
consumer products such as smartphones, wearables, and computers. It can also be
found in IoT / M2M devices used in automotive and smart metering. They are also
included in medical IoT devices, smart meters, home automation, security systems,
connected cars, IoT asset tracking devices, handheld POS (Point of Sales)
systems, and others.
Major businesses are rapidly
adopting eSIM solutions to leverage their benefits and opportunities. eSIM
brings a range of advantages, such as a simple and fast onboarding experience
and subscription flexibility features. The rewritable eSIM allows end-users
traveling abroad to pick up a local pre-paid phone number that could help avoid
premium roaming fees.
Service providers can enhance the
overall customer experience with high logistics and support without requiring
more than one SIM card. eSIM market carriers can extend mobile connectivity to
many new consumer-connected devices, creating new business opportunities by
extending the mobile connectivity reach to new typologies.
Currently, iOS, Android, Wear OS,
and Windows 10 operating systems support eSIM, and more eSIM-compliant devices
are expected soon. The yearly shipment of eSIM-compliant smartphones is
expected to grow from 102 million in 2019 to 509 million by 2024. eSIM adoption
will be widespread, penetrating deeply into the service models across
technology providers.
Device manufacturers expect that
by 2025, most of their total devices will be connected through eSIM Market.
Mobile operators estimate a similar kind of adoption, and most of them are
planning to run a hybrid SIM/eSIM model in the near future. All these
assumptions indicate that the demand for eSIMs would be soaring high. On this
backdrop, arise a question, if eSIM technology providers are ready to meet this
demand?
Many industry players believe
that the eSIM market production would be slowed due to various barriers, such
as designing & production complexities, extended time to market, and
volatile production costs & poor availability of raw components. This
presents a major gap in the demand-supply ratio of eSIMs due to an inadequate
supply of eSIM technology, which would eventually lead to slowing down the eSIM
Market adoption.
On the other hand, new entrants
in the market would help tackle the eSIM delivery issue to some extent. But
again, these newcomers would face a number of challenges, including
complexities in implementing the eSIM model. Many eSIM technology providers are
working on developing remote SIM provisioning solutions for mobile operators.
These capabilities of SIM manufacturers would help operators to effectively
offer eSIM services and make the switch to eSIM swiftly and professionally.
Cumulative
Opportunities
eSIM Market is becoming much of a
priority for OEMs as 5G proliferates. Most high-end smartphone and smartwatch
providers have already made eSIM a priority. eSIM appeals to consumers by
adding another layer of digitization, allowing hassle-free and faster enrolment
and subscription delivery. Industry players need to increase the availability
of eSIM services and customer adoption.
However, the eSIM adoption rate
will largely depend on operators' commercial and subscription plans. eSIM
providers, with their wider strategies to expand their eSIM services and end-to-end
solutions across all markets, are taking up initiatives to increase the
awareness that can lead to increasing the eSIM adoption. However, more work
needs to be done to boost the eSIM adoption worldwide.
eSIM helps streamline
manufacturing and logistics; therefore, consumer goods and automakers are
implementing eSIMs as much as industrial IoT. AI and M2M capabilities show a
positive growth trend for the eSIM market. As machine learning capabilities
raise further, the eSIM market is likely to garner significant traction in the
years to come.
MVNOs are aggressively using eSIM
to enhance their digital experiences and marketing efforts. Most leading
smartphone manufacturers are working on enhancing their capabilities to support
eSIM and offer eSIM-enabled smartphones. Mobile operators see eSIM as an
opportunity to increase the consumer base by strengthening the customer
experience than creating new revenue.
Industry
Players' Strategies to Follow
eSIM providers strive to provide
hardware-based eSIM and eSIM management solutions and extend their expertise in
deploying critical business solutions worldwide with data center policy, high
availability, scalability, etc. They build futuristic research and development
labs and teams for eSIM-related technologies that can contribute to the eSIM
standardization & interoperability, like remote provisioning architecture
for embedded UICC specifications. Also, they form strategic partnerships and
alliances with local and international mobile operators, MVNOs, OEMs, and
automotive markets.
Notable
Industry Updates
On Mar
03, 2022, THALES announced that C Spire selected it to gain access to its eSIM
Market management solutions. Thales would provide C Spire with local support
and the ability to future-proof eSIM technologies with responsive adoption for
new smart devices. Thales will also empower C Spire's customers to remotely
activate and manage their device subscriptions with mobile-centric services,
such as digital enrolment and support.
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