According to a new market research report published by Acute Market Reports “Embedded SIM Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026”, the overall embedded SIM (eSIM) market worldwide is set to grow with a CAGR of 25.6% through the forecast period to cross US$ 1,000 Mn by 2026.
Market Insights
The embedded SIM (eSIM) market is rapidly gaining pace, thereby creating numerous opportunities for mobile network operators as well as connected devices manufacturers. With expanding application area of SIM cards to laptops, tablets and connected devices for the IoT ecosystem, eSIM cards are set to witness rapid growth over the forecast period. The market is highly driven by its superior advantages over conventional SIM cards. Embedded SIM cards are rugged, available in a smaller size, secure and interoperable. Embedded SIM cards enable users to switch between networks without physically interchanging the default chip. In addition, eSIM ease-out logistics for mobile network operators (MNOs) by eliminating handling millions of SIM cards (as in case of conventional cards).
Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/embedded-sim-market
The booming IoT sector worldwide is another important factor in supporting market growth. As of 2018, the total number of connected devices exceeds 17 Bn, with IoT devices (excluding smartphones, laptops and other mobile devices) surpassing 7 Bn across the globe. By 2022, over 70% of the total IoT devices are expected to be connected using cellular technology, thereby creating enormous opportunities for the eSIM market. eSIM cards are believed to be more useful for the IoT ecosystem across verticals such as power generation, oil & gas, manufacturing, and others. Changing SIM cards in these sectors may prove costly and difficult as most of the IoT devices are located at remote places that are challenging to access. As a result, growing industrial IoT is expected to emerge as the most promising factor bolstering the eSIM market over the following years.
On the basis of geography, Europe leads the overall eSIM market worldwide accounting for nearly 40% of the global market size. The market here is primarily governed by the presence of a robust IoT sector here. In addition, the presence of numerous market players including Gemalto N.V., Giesecke & Devrient GmbH, STMicroelectronics N.V., and NXP Semiconductors N.V. among others. The Asia Pacific is projected to register the fastest growth over the forecast period. Countries such as China, Japan, and South Korea are among the leading nations in connected devices in the Asia Pacific. Additionally, the rapidly growing IoT sector in India would further accelerate the regional market growth during the forecast period.
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Market Segmentation:
By Form Factor Segment
By Application Segment
By Industry Vertical Segment
By Geography Segment Type
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