eSIM Global Market Report 2024

The esim market size has grown rapidly in recent years. It will grow from $9.69 billion in 2023 to $11 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth observed in the historic period in the field of eSIM technology can be attributed to several factors. These include the increasing adoption of Internet of Things (IoT) devices, growing needs for mobile connectivity, globalization trends leading to cross-border connectivity requirements, the emphasis on security and authentication protocols, and the demand for compact and integrated solutions. These factors collectively contributed to the widespread adoption and integration of eSIM technology during the historic period.

The esim market size is expected to see rapid growth in the next few years. It will grow to $17.91 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The anticipated growth in the forecast period for eSIM technology can be attributed to several factors. These include the continued expansion of IoT connectivity, the rollout and expansion of 5G networks supporting faster and more reliable connections, the emergence of new use cases for eSIM technology, the increasing proliferation of mobile devices, and a rising demand for remote SIM provisioning. Major trends expected in this period include the proliferation of IoT devices, the integration of embedded SIMs in smart home devices, collaborative efforts across industries, the exploration of eSIM integration with blockchain technology for enhanced security, and a heightened focus on security and authentication measures associated with eSIM technology. These trends collectively contribute to the evolving landscape of eSIM technology in the forecast period.

The expansion of the eSIM market is significantly fueled by the increasing proliferation of smartphones. Smartphones, highly advanced mobile devices, integrate eSIM technology, enabling users to reconfigure subscriber information without physically replacing SIM cards. In July 2023, Demand Sage reported a global smartphone user count of 6.8 billion, showing a rise from approximately 6.6 billion in the preceding year. Notably, data from the Pew Research Center indicated an increase in smartphone ownership among Americans, escalating from 81% in February 2019 to 85% in February 2021, marking a substantial surge compared to a mere 35% ownership in 2011. Consequently, the upward trend in smartphone adoption is poised to propel the eSIM market.

The surge in demand for connected cars is anticipated to drive the growth trajectory of the eSIM market. Connected cars, equipped with integrated communication systems and internet connectivity, rely on eSIM technology for streamlined management of cellular connectivity without requiring physical SIM card replacements. Sierra Circuits projected a promising compound annual growth rate (CAGR) of 21.75% in the global connected car market, expected to reach revenue of $156.5 billion by 2025. This trend emphasizes the increasing reliance on eSIMs to facilitate real-time navigation, over-the-air updates, and efficient vehicle tracking, bolstering the expansion of the eSIM market.

Leading companies in the eSIM market are dedicated to crafting innovative solutions, particularly digital 5G tourist eSIMs, catering to the burgeoning demands of international travelers. These eSIMs boast unique features such as simplified digital activation processes accessible through online platforms or applications. Singtel, a Singapore-based telecommunications company, unveiled the 5G Tourist eSIM in September 2023, targeting international travelers. This eSIM, designed to enhance convenience and value, allows tourists to manage connectivity needs before arriving in Singapore. Singtel's focus on major events such as the Grand Prix showcases the eSIM's hassle-free activation, eliminating the traditional SIM card purchase process and providing seamless 5G connectivity for enhanced travel experiences.

Prominent players in the eSIM market are prioritizing the development of distinctive features that promote planet-friendly and sustainable connectivity solutions. The term 'planet-friendly' refers to practices or products designed to minimize environmental impact. For example, in January 2023, Airtel, an India-based telecommunications company, introduced its eSIM, a digital SIM offering seamless functionality akin to a physical SIM. Airtel's eSIM not only facilitates quick online setup but also champions environmental friendliness, allowing users to operate two numbers on a single device. This service, now available alongside offerings from MTN and 9mobile, necessitates a compatible device and a SIM swap guided by Airtel service personnel.

In July 2023, Tata Communications, an India-based telecommunications company, made headlines by acquiring the remaining 41.9% equity stake in Oasis Smart SIM for an undisclosed amount. This strategic acquisition bolsters Tata Communications' technological capabilities by incorporating Oasis Smart SIM's expertise in eSIM technology. Oasis Smart SIM, based in France, specializes in providing eSIMs tailored for applications in IoT (Internet of Things) and M2M (Machine-to-Machine) operations.

Major companies operating in the esim market report are Infineon Technologies AG, NXP Semiconductors N.V, Samsung Group, STMicroelectronics, CEC Huada Electronic Design Co Ltd, Toshiba Corporation, On Semiconductor Corporation, Eastcompeace Technology Co Ltd, Valid S.A., Microchip Technology Incorporated, Analog Devices Inc, Sony Group Corporation, EM Microelectronic, Watchdata Technologies Ptd Ltd, CardLogix Corporation, Gemalto (now Thales Digital Identity and Security), IDEMIA, Giesecke+Devrient, Sierra Wireless, Deutsche Telekom AG, Telit, Arm Holdings, Vodafone Group, Telefónica, Cubic Telecom, Truphone, Workz Group, KORE Wireless, Kigen, Cisco Systems.

North America was the largest region in the eSIM market in 2023. The regions covered in the esim market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the esim market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main solutions associated with eSIM include hardware and connectivity services. Hardware encompasses all the physical components of a computer system, including the devices it is connected to. eSIM finds applications in various devices and industries, including connected cars, laptops, Machine-to-Machine (M2M) communication, smartphones, tablets, wearables, and other Internet of Things (IoT) devices. These applications span across different verticals such as automotive, consumer electronics, energy and utilities, manufacturing, retail, transportation, and logistics.

The eSIM market research report is one of a series of new reports that provides eSIM market statistics, including eSIM industry global market size, regional shares, competitors with eSIM market share, detailed eSIM market segments, market trends, and opportunities, and any further data you may need to thrive in the eSIM industry. This eSIM market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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