Growing traction of machine to machine and Internet of Things communication to drive esim market in Asia Pacific through 2024
According to TechSci Research report, “Asia Pacific esim Market By Form Factor, By Application, By Country, Competition, Forecast & Opportunities, 2024”, Asia Pacific esim market is expected to grow at a double-digit CAGR during 2019-2024, on account of emerging technologies such as Internet of Things. Esim is an electronic sim card that can change the operator based on the needs, so as to offer improved user experience. Growing awareness pertaining to wearable devices and surge in mobile computing are pushing the market. However, lack of regulations and concerns related to the security may impede market growth during forecast period.
Esim market can be segmented based on form factor and application. On the basis of application, the market can be segmented into connected cars, wearables, smartphones & tablets, laptops and M2M. Owing to the presence of favorable regulatory framework and increasing adoption of Internet of Things in various verticals including consumer electronics, retail, automotive, transportation and logistics, among others, machine to machine or M2M segment dominated the market in 2018 and the trend is likely to continue in coming years as well.
Major players operating in Asia Pacific esim market are NTT Docomo Inc, NXP Semiconductors N.V., Apple Inc., Deutsche Telekom AG, Sierra Wireless, Inc., STMicroelectronics N.V., Vodafone PLC, Samsung Electronics and Infineon Technologies AG. Companies operating in the market are adopting organic and inorganic strategies such as product launch, investments & expansions and agreements & contracts to ensure growth in the market. Apple has started implementing esim in Apple watch series 3 and 4 and launched iPhone XS and XS Max with esim.
“Growth in esim market in Asia Pacific is expected to be driven by various factors such as ease to switch between network providers in real time, activation of cellular plans without using physical sim and facility to save more than one operator profile on a device. Moreover, presence of favorable government regulations for telecommunication is expected to bolster the market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Asia Pacific esim Market By Form Factor, By Application, By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Asia Pacific esim market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia Pacific esim market.
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