[116 Pages Report] The overall eSIM market was valued at USD 179.6 Million in 2017 and is estimated to reach USD 978.3 Million by 2023, at a CAGR of 31.0% between 2018 and 2023. In terms of volume, the overall eSIM market is estimated to register a shipment of 287.7 million units in 2016 and is likely to witness a shipment of 1,168.8 million units by 2023, at a CAGR of 32.4% between 2018 and 2023. The growth is attributed to the emphasis on remote SIM provisioning for M2M, favorable government regulations boosting M2M communication, and high adoption of IoT technology.
The objective of the
report is to provide a detailed analysis of the eSIM market based on application, vertical, and geography.
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The value chain pertaining to the eSIM market starts with research and development, manufacturing, system integration, supply and distribution, and post-sales services. The most important steps in the value chain of the eSIM market are R&D, manufacturing, and system integration. End users of embedded SIMs include various consumer, commercial, and industrial verticals.
Some major suppliers of eSIM systems are Deutsche Telekom AG (Germany), Gemalto NV (Netherlands), Giesecke & Devrient GmbH (Germany), Infineon Technologies AG (Germany), NTT DOCOMO, INC. (Japan), NXP Semiconductors N.V. (Netherlands), Sierra Wireless, Inc. (Canada), Singapore Telecommunications Limited (Singapore), STMicroelectronics (Switzerland), and Telefónica, S.A. (Spain).
ESIM is useful for applications in which settings are required to be remotely updated, has the capability to bypass the form factor issues, and enables easy manufacturing and deployment of several IoT devices and sensors. Presently, the global eSIM market is in its nascent phase. With the steady adoption of the IoT technology across various industries, the overall eSIM market is likely to gain traction in the coming years.
The M2M application is estimated to lead the eSIM market in 2018. The increasing penetration of the internet, coupled with the rising adoption of IoT across verticals such as automotive, consumer electronics, energy & utilities, manufacturing, retail, and transportation & logistics, is primarily driving eSIM adoption. In addition, favorable regulatory frameworks are facilitating the growth of M2M across verticals. ESIM is now a mainstream technology in the M2M application. It plays a pivotal role in this application owing to its remote programmability and high security.
The rapidly growing M2M market across verticals is expected to contribute to the dominance of M2M application during the forecast period. However, the lack of standardization in connectivity protocols is expected to hinder the eSIM market growth.
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Europe is estimated to hold the largest share of the eSIM market in 2018, followed by North America and Asia Pacific. However, by 2023, North America is likely to hold the largest market share globally.
ESIM cards allow remote provisioning of SIM profiles through enabling automatic interoperability between connectivity platforms and multiple SIM operator profiles. However, the operational flexibility achieved by an embedded SIM would be a futile effort if security is compromised.
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