Infineon Technologies, NXP Semiconductors, and STMicroelectronics Among Major Players in the Growing Global eSIM Market
DUBLIN, July 20, 2023 /PRNewswire/ -- The "eSIM Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This comprehensive report provides critical information for strategists, marketers, and senior management to assess the eSIM market. The market is projected to grow from $8.51 billion in 2022 to $9.73 billion in 2023, with a compound annual growth rate (CAGR) of 14.3%. Furthermore, the market is expected to reach $15.89 billion by 2027, exhibiting a CAGR of 13.1%.
Major players in the eSIM market include Infineon Technologies AG, NXP Semiconductors N.V., STMicroelectronics, Deutsche Telekom AG, Giesecke+Devrient Mobile Security GmbH, Gemalto NV, ARM Holdings, Valid S.A., Idemia, Workz Group, Truphone Limited, Gigsky Inc., Sierra Wireless, Singapore Telecommunications Limited, Telefonica SA, and KORE Wireless Group Inc.
Reasons to Purchase:
eSIM, or embedded SIM, refers to a universal integrated circuit card (UICC) that supports different network carrier profiles embedded within a device. It enables users to utilize cellular plans from carriers without the need for a physical nano-SIM card.
The main solutions in the eSIM market include hardware and connectivity services. Hardware encompasses the physical components of a computer system and the devices it connects to. Applications for eSIMs are found in various sectors such as automotive, consumer electronics, energy and utilities, manufacturing, retail, transportation and logistics. Connected cars, laptops, M2M dvices, smartphones, tablets, wearables, and other devices utilize eSIMs.
Technological advancements are driving the eSIM market, with major companies focusing on expanding the use cases and applications of eSIM offerings. For example, in January 2020, Ericsson launched its new eSIM solution, providing remote provisioning of user profiles and device administration. These capabilities enable communication service providers (CSPs) to manage user profiles more effectively.
North America accounted for the largest share of the eSIM market in 2022, while Asia-Pacific is expected to witness the highest growth during the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Key countries analyzed in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The increasing penetration of smartphones is a significant driver for the growth of the eSIM market. eSIMs are built into consumer devices like smartphones, eliminating the need for physical SIM card replacements. The rising adoption of smartphones is driven by factors such as affordability, availability of quality devices, and internet penetration.
For example, according to the Pew Research Center, the percentage of Americans who own a smartphone increased from 81% in February 2019 to 85% in February 2021, up from just 35% a decade ago in 2011. Similarly, the Indian smartphone market experienced a tenfold increase from 14.5 million shipments in 2011 to 150 million in 2020, according to India Brand Equity Foundation (IBEF). These trends contribute to the growth of the eSIM market.
The eSIM market comprises revenues earned by entities providing data-only and voice, SMS, and data services. The market value includes the value of related goods and services sold by the service providers. The market also includes sales of embedded universal integrated circuit cards (eUICC) used to provide eSIM services.
Key Topics Covered:
6.2. Global eSIM Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.3. Global eSIM Market, Segmentation By Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7. eSIM Market Regional And Country Analysis
For more information about this report visit https://www.researchandmarkets.com/r/uhffgp
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