eSIM Market is projected to grow at a stupendous CAGR of 30% by 2033-end

The global eSIM subscription market is projected to grow from its 2023 worth of US$ 980 Mn to US$ 13.5 Bn at a stupendous CAGR of 30% by 2033-end.

The growth of eSIM subscriptions in consumer electronic products is being driven by advantages including increased connection, high dependability, and better security. One of the key factors influencing the development, advancement, and revolution in a variety of technical services including eSIM subscriptions continues to be the consumer electronics sector.

Again because switching cell phone network carriers is made simpler by features like eSIM 4G and 5G services, it would encourage more and more physical SIM card network providers to adopt and enter the eSIM subscription market competition.

It is anticipated that demand for eSIM subscriptions may increase and the hardware category would rise as a result of the rising tendency among smartphone makers to incorporate an eSIM within the handset. Additionally, eSIM allows for the management of M2M devices, many of which are totally remote and located, and it is projected that it will effectively hold the highest share of the market during the forecast period. The use of M2M and IoT technologies in automobile industries is also anticipated to increase the demand for eSIM subscriptions as a result. The GSMA Embedded SIM Specification, which will boost vehicle connectivity and pave the path for a fresh generation of linked cars, has just received support from the automotive sector and is anticipated that it would enhance demand for eSIM subscriptions from a number of connected services, enabling the industry to expand.

Key Takeaways from the eSIM Subscription Market Study

  • Giesecke + Devrient Mobile Security GmbH is the deserving leader in the eSIM subscription market due to its performance in the commercial eSIM deals as well as IoT eSIM arena.
  • Thales is a close second on the list with good ratings for its Operating System, and compatibility, ultimately leading the eSIM phone list.
  • Asia Pacific countries are the fastest-growing economies in the adoption of eSIM subscriptions with a higher consumer base of smartphone users.

Competitive Landscape for the eSIM Subscription Market

Infineon Technologies AG., NXP Semiconductors N.V., STMicroelectronics, Deutsche Telekom AG, Giesecke + Devrient Mobile Security GmbH, Thales, ARM Holdings are some of the major players in the global eSIM subscription market.

The eSim subscription market report states that G+D tops the market and has provided subscriptions for the highest number of devices with digital SIM card capabilities, including cellphones, wearables, iPads, and iPhone dual SIM devices.

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