eSIM Market: The Next Big Thing Witnessing Stunning Growth

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MarketsandMarkets Presents

eSIM Market The Next Big Thing Witnessing
Stunning Growth eSIM Market by Application
(Connected Cars, Laptops, M2M, Smartphones,
Tablets, Wearables), Vertical (Automotive,
Consumer Electronics, Energy Utilities,
Manufacturing, Retail, Transportation
Logistics), and Geography - Global Forecast to
2023 https//www.marketsandmarkets.com/Market-Rep
orts/esim-market-69178757.html
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The overall eSIM market is estimated to grow
from USD 253.8 Million in 2018 to USD 978.3
Million by 2023, at a CAGR of 31.0 between 2018
and 2023. The emphasis on remote SIM provisioning
for M2M, favourable government regulations
boosting M2M communication and high adoption of
IoT technology are driving the demand for eSIM
solutions. ESIM is useful for applications in
which settings are required to be remotely
updated, has the capability to bypass the form
factor issues, and enables easy manufacturing and
deployment of several IoT devices and sensors.
Presently, the global eSIM market is in its
nascent phase. With the steady adoption of the
IoT technology across various industries, the
overall eSIM market is likely to gain traction in
the coming years. Browse 31 market data Tables
and 36 Figures spread through 116 Pages and
in-depth TOC on "eSIM Market - Global Forecast to
2023"
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The M2M application is estimated to lead the
eSIM market in 2018. The increasing penetration
of the internet, coupled with the rising adoption
of IoT across verticals such as automotive,
consumer electronics, energy utilities,
manufacturing, retail, and transportation
logistics, is primarily driving eSIM adoption. In
addition, favourable regulatory frameworks are
facilitating the growth of M2M across verticals.
ESIM is now a mainstream technology in the M2M
application. It plays a pivotal role in this
application owing to its remote programmability
and high security. Ask Free PDF
Brochure https//www.marketsandmarkets.com/pdfdow
nloadNew.asp?id69178757 The rapidly growing M2M
market across verticals is expected to contribute
to the dominance of M2M application during the
forecast period. However, the lack of
standardization in connectivity protocols is
expected to hinder the eSIM market growth.
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Based on vertical, the telecommunications
vertical is anticipated to witness the fastest
growth during the forecast period. The
telecommunications vertical remains one of the
major forces shaping disruption, innovation, and
growth across various technology industries. ESIM
is anticipated to be a game changer in
telecommunications applications. It aids in
intelligent switching of operator profiles
without any hassle to the end user, with no
geographical border constraints. The adoption of
eSIM by telecommunications stakeholders is likely
to position them as leading players in
connectivity and IoT markets in the coming
years. Europe is estimated to hold the largest
share of the eSIM market in 2018, followed by
North America and Asia Pacific. However, by 2023,
North America is likely to hold the largest
market share globally. The increasing focus on
the linking and digitization of future products
and services is boosting the growth of the
semiconductor industry. The semiconductor
industry offers key technology solutions such as
security, energy efficiency, mobility, and smart
grid, across verticals. Furthermore,
semiconductors are viewed as building blocks for
enhanced environmental monitoring, energy
efficiency, and better security. It is one of the
most RD-intensive industries in Europe. The
demand for eSIM is likely to gain momentum in the
near future owing to the rapid adoption of
advanced technologies, changing consumer
demographics, as well as shifting consumer
preferences.
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ESIM cards allow remote provisioning of SIM
profiles through enabling automatic
interoperability between connectivity platforms
and multiple SIM operator profiles. However, the
operational flexibility achieved by an embedded
SIM would be a futile effort if security is
compromised. The eSIM collects and stores the
credentials of mobile network operators (MNOs) in
the inbuilt software of the device, which is
prone to various security hacks. In addition, it
operates through multiple MNOs and physical
platforms, thereby exposing it to the risks of
the virtual environment. Inquiry Before
Buying https//www.marketsandmarkets.com/Enquiry_
Before_BuyingNew.asp?id69178757 Major players
operating in the eSIM market include Deutsche
Telekom AG (Germany), Gemalto NV (Netherlands),
Giesecke Devrient GmbH (Germany), Infineon
Technologies AG (Germany), NTT DOCOMO, INC.
(Japan), NXP Semiconductors N.V. (Netherlands),
Sierra Wireless, Inc. (Canada), Singapore
Telecommunications Limited (Singapore),
STMicroelectronics (Switzerland), and Telefónica,
S.A. (Spain). Key market players focus on
acquisitions, collaborations, joint ventures,
partnerships, and product launches and
developments to enhance their product offerings
and expand their businesses.
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