SkyQuest projects that the eSIM market will attain a value of USD 42.15 billion by 2030, with a CAGR of 16.5% over the forecast period (2023-2030). The introduction of eSIM technology in the automotive industry has carried about remarkable flexibility in equipping trucks and cars with cellular connectivity, opening up new possibilities for enhanced features and capabilities. This advancement has paved the way for a future where all automobiles are expected to be equipped with cellular technology in the eSIM market. esim Smart Electronics
According to SkyQuest, consumers’ desire to create linked homes primarily drives the increasing demand for smart electronics, including devices such as printers, smart glasses, smartphones, tablets, laptops, and wearables. Integrating eSIM technology into these consumer electronic items plays a crucial role in providing excellent network connectivity, which is essential for establishing connected homes in the eSIM market.
The advent of the Internet of Things (IoT) has spawned new industries and provided network service providers with numerous opportunities. IoT is revolutionizing the mobile sector, completely transforming its landscape. The demand for intelligent and automated appliances extends beyond consumer-oriented devices such as tablets, mobile phones, and laptops in the eSIM market. Various industry verticals embrace IoT technologies, incorporating smartphones and wearables into their operations.
Prominent Players in eSIM Market
- Gemalto N.V.
- Infineon Technologies A.G.
- Deutsche Telekom
- NXP Semiconductors
- Giesecke + Devrient
- NTT DoCoMo INC.
- Cisco Systems
- Sierra Wireless INC.
- Apple Inc.
- Arm Limited
Consumer Electronics Segment is Expected to Grow the Market Due to the Increased Utilization of Photodetectors esim Smart Electronics
The consumer electronics segment has emerged as a pivotal force driving innovation and growth within the eSIM market. Consumer electronics has become a game-changer in technology with its constant advancements and transformative capabilities. A notable development within this domain is the integration of eSIMs (embedded SIM cards) in consumer electronics applications.
The markets in North America are projected to possess a substantial share in the eSIM market, primarily attributed to being one of the pioneering regions to embrace and support eSIM technology. It was the first region to roll out widespread support for eSIM, with significant carriers offering eSIM services. In the United States, prominent telecom providers such as AT&T, T-Mobile, Truphone, Ubigi, and Verizon Wireless have enabled the functionality of eSIM, providing consumers with the convenience of utilizing this advanced technology.
M2M Segment is Expected to Dominate the Market Due to the Increased Adoption of LED Bulbs
M2M (Machine-to-Machine) segment has emerged as the frontrunner in the global eSIM market, primarily owing to the myriad benefits offered by eSIM technology in M2M devices. One key advantage is the simplified and digital approach to switching network carriers without physically replacing a SIM card. This flexibility allows M2M devices to seamlessly adapt to changing network requirements, reducing downtime and operational disruptions.
Regional markets in the Asia Pacific region are anticipated to witness the fastest growth in the eSIM market. This can be attributed to the increasing adoption of eSIM technology in M2M devices, particularly in countries such as China and Japan. The region has experienced a significant surge in mobile internet penetration in recent years, with a doubling of mobile internet usage.