Global eSIM Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Spread the love

Overview and Scope

eSIM refers to an embedded universal integrated circuit card (eUICC) capable of supporting different network carrier profiles that are essentially embedded in it. It enables users to use a cellular plan from carrier without the need for an actual nano-SIM.

Sizing and Forecast

The esim market size has grown rapidly in recent years. It will grow from $9.69 billion in 2023 to $11 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to increasing adoption of iot devices, rising mobile connectivity needs, globalization and cross-border connectivity, security and authentication requirements, demand for compact and integrated solutions.

The esim market size is expected to see rapid growth in the next few years. It will grow to $17.91 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to continued growth in iot connectivity, expansion of 5g networks, emergence of new use cases, increasing mobile device proliferation, rising demand for remote sim provisioning. Major trends in the forecast period include iot proliferation, embedded sims in smart home devices, cross-industry collaboration, integration with blockchain technology, security and authentication focus.

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/esim-global-market-report

Segmentation & Regional Insights

The esim market covered in this report is segmented –

1) By Solution: Hardware, Connectivity Services
2) By Application: Connected Cars, Laptops, M2M, Smartphones, Tablets, Wearables, Other Applications
3) By Verical: Automotive, Consumer Electronics, Energy And Utilities, Manufacturing, Retail, Transportation And Logistics

North America was the largest region in the eSIM market in 2023. The regions covered in the esim market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9450&type=smp

Major Driver Impacting Market Growth

The increasing penetration of smartphones is significantly contributing to the growth of the eSIM market going forward. A smartphone refers to a mobile phone with highly advanced functions. eSIMs are built into consumer devices such as smartphones, allowing the user to re-program sim contents such as the international mobile subscriber identifier (IMSI) and network carrier profiles via software, eliminating the requirement for SIM card replacement. For instance, in July 2023, according to Demand Sage, a US-based Google Sheets-based revenue operations platform, in 2023, the global count of smartphone users stood at 6.8 billion, marking an increase from around 6.6 billion users in 2022. Additionally, according to the Pew Research Center, a nonpartisan American think tank, the percentage of Americans who own a smartphone climbed from 81% in February 2019 to 85% in February 2021, which was just 35% a decade ago (in 2011). Therefore, the increasing penetration of smartphones will drive the eSIM market.

Key Industry Players

Major companies operating in the eSIM market are focused on developing eSIM unique features such as being planet-friendly for sustainable and convenient connectivity. Planet-friendly refers to actions, products, or practices that are environmentally conscious and aim to minimize their impact on the planet. For instance, in January 2023, Airtel, an India-based telecommunications company launched eSIM, a digital SIM offering the same functionality as a physical SIM, providing benefits like quick online setup, environmental friendliness, and the ability to use two numbers on one device. Joining MTN and 9mobile, Airtel’s eSIM service is now available, requiring a compatible device and a SIM swap guided by Airtel service personnel.

The esim market report table of contents includes:

1. Executive Summary

2. ESIM Market Characteristics

3. ESIM Market Trends And Strategies

4. ESIM Market – Macro Economic Scenario

5. Global ESIM Market Size and Growth

5.1. Global ESIM Market Drivers and Restraints

31. Global ESIM Market Competitive Benchmarking

32. Global ESIM Market Competitive Dashboard

33. Key Mergers And Acquisitions In The ESIM Market

34. ESIM Market Future Outlook and Potential Analysis

 

35. Appendix

 

Explore the trending research reports from TBRC:

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293

Email: [email protected]

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model


Spread the love

About Top PR News

TopPRnews Leads Drives Search Engine Visibility For Your Press Release Content. Our Global Network Reaches Important Contacts, Media Partners And Websites And Journalists. Happy Postings! If You Have Any Queries Please Contact Official Mail At [[email protected]}

View all posts by Top PR News →