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eSIM Market

eSIM Market Size, Share, Trends & Market Dynamics By Vertical (Automotive, Manufacturing, Consumer Electronics), By Application (Phones, Wearables, Medical, Smart Homes) - Regional Forecast 2022-2032

Analysis of eSIM market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

eSIM Market Outlook (2022-2032)

In light of the constant evolution of smart connected devices in every industry vertical, the need for centralized manageable network-connected devices is rising rapidly. For managing devices, the need for remote connectivity is increasing. For sustaining this requirement, the number of manufacturers of smart devices is increasing rapidly.

eSIMs are becoming increasingly popular, as they allow users to manage all connected devices, including cars, mobile phones, wearables, medical devices, and others from a remote location. eSIMs are becoming increasingly popular among smart device manufacturers, as these SIMs have ‘Machine to Machine’ capabilities and also remote provisioning.

An eSIM is also known as an Embedded SIM or ‘embedded Universal Integrated Circuit Card’ (eUICC). eSIMs stand out as a result of evolution; they are smaller in size - 6 mm x 5 mm (length x width). These are embedded forms of SIM cards. It is soldered onto a motherboard of a device at the time of manufacturing. These sims perform the same functionality as the removable SIM cards of present times.

The technologies such as IoT are propelling demand for network services and shaping the future of the mobile industry. There is a rise in demand for automated appliances that expand beyond the limits of consumer-oriented devices such as mobiles and tablets.

The global eSIM market is valued at USD 7.3 Billion in the year 2022. The market is anticipated to grow and surpass a valuation of USD 21.24 Billion by end of 2032. This market is expected to expand with a CAGR of 10.2% in the forecast duration.

Report Attributes

Details

Market size (2022 A)

USD 7.3 Billion

Base Year for Estimation

2022

Forecast duration for this research

2022-2032

Forecasted Market value (2032 F)

USD 21.24 Billion

Global Market Growth rate (2022-2032 E)

CAGR of 10.2%

Key Companies Profiled

  • Gemalto
  • Stmicroelectronics
  • Sierra Wireless
  • NXP Semiconductors
  • Singtel

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What drives the eSIM market?

The fact that an eSIM allows a user to store multiple operator profiles on a device simultaneously and also switch between these profiles remotely is fuelling the demand for the eSIM market. In addition to this, the rapid adoption of IoT across different industry verticals for the manufacturing of smart and connected devices is rising rapidly resulting in the increasing demand for these SIMs.

The increasing popularity and application of machine-to-machine learning are leading to the rising deployment eSIMs. Also, the market is expected to be fuelled by the increasing adoption of these SIMs from leading smartphone manufacturers such as Google and Apple. Smartphone manufacturers are expected to demand eSIMs to enhance their product offerings.

There is a growing demand for innovative consumer electronics which is likely to drive demand for such products in the future. The reduced cost of maintenance and data monitoring and service timing are some other reasons to opt for eSIM. The M2M systems are widely used by the telemedicine, automotive, and security industries due to enhanced connectivity where such SIMs have a crucial role.

The accelerated demand for smartphones, smart glasses, and laptops is augmenting consumers’ desire for owning linked homes. The eSIM in consumer electronics is likely to drive the user experience and contribute to market share.

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What is the major concern with the product?

Consumers can only choose one profile out of all profiles at a time. This is a major drawback of eSIMs, which is restraining the growth of the market. Also, being the latest technological evolution, the compatibility, connectivity, and other issues with the smart devices of different manufacturers are also one of the major challenges for the growth of this market. The pandemic has affected the market of eSIMs which is likely to keep the market stagnant for in upcoming period.

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Segment wise Insights

On the basis of vertical, the eSIM market is segmented into automotive, manufacturing, consumer electronics, and others. The vertical segment considers verticals that are using eSIMs as a part of the products that they are manufacturing.

On the basis of application, the market is segmented into the types of devices or products in which these SIMs are an integrated part. further, this market is segmented into phones, wearables, medical, automotive, smart homes, tablets, laptops, and others.

On the basis of region, the market is segmented into North America, Latin America, Europe, Eastern Europe, CIS & Russia, Japan, and MEA.

Regional Outlook

Considering the revenue generated from the sales of these SIMs, North America holds a significant market share due to its rapid adoption of eSIMs by smartphone manufacturers and smart device manufacturers across different industry verticals. Industries including automotive, energy and utilities, and others in European countries are adopting for such SIM to sustain the rapidly changing industry requirements for delivering connected devices to consumers.

The North American region amounts to the largest market share of more than 35% in 2021. The anticipated CAGR forecast is attributed to a higher presence of network providers in technological advancements. The market in Europe is expected to remain the second highest in terms of value in the forecast period. Being early adopters of technology these regions are anticipated to gain major market share in the forecast period.

Industries are using these SIMs in devices for establishing efficient connectivity management. The APEJ region is expected to grow at a high CAGR over the forecast period, due to the increasing manufacturing of smartphones, consumer electronics, laptops, and others in developing countries such as India, China, and others in this region, resulting in the adoption of eSIMs. The market in the MEA region is expected to grow at a comparatively moderate CAGR, due to the slow adoption rate of these SIMs.

Asia Pacific region is expected to witness a growth rate of more than 8% in the forecast period. This share likely due to the key players in the industry which are driving momentum in the smartphone markets. The countries like China and India are approaching more solutions for the manufacturing of such products.

Competitive landscape

eSIM manufacturers are continuously focusing on innovations in their products. This strategy is followed by key vendors for sustaining themselves in the increasing global competition. In addition to this, eSIM manufacturers are focusing on delivering eSIMs to different industries as per their product requirements, so that they are able to retain customers. On the basis of a shift from removable SIMs to eSIMs is anticipated to grow up to 50 to 60 million by 2023.

Understanding the shift in the market key players has started to focus on the launch of eSIM-only devices. Companies like Apple are already entering into their eSIM-only smartphones. The market is further anticipated to notice a rise in competition due to the development of advanced and cost-effective solutions.

eSIM Market: Segmentation

  • Based on Vertical :

    • Automotive
    • Manufacturing
    • Consumer electronics
    • Others
  • Based on the Application :

    • Phones
    • Wearables
    • Automotive
    • Tablets
  • Based on Region :

    • North America
      • U.S.
      • Canada
    • Latin America
      • Mexico
      • Brazil
    • Western Europe
      • Germany
      • Italy
      • France
      • U.K
      • Spain
    • Eastern Europe
      • Poland
      • Russia
    • Asia Pacific
      • China
      • India
      • ASEAN
      • Australia
      • New Zealand
    • Japan
    • Middle East and Africa
      • GCC
      • S. Africa
      • N. Africa

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The global eSIM market is valued at USD 7.3 Billion in the year 2022.

This market is expected to expand with a CAGR of 10.2% in the forecast duration.

The market is anticipated to grow and surpass a valuation of USD 21.24 Billion by end of 2032.

Some of the key players in the global eSIM market include • Gemalto • Stmicroelectronics • Sierra Wireless • NXP Semiconductors • Singtel • Giesecke & Devrient • Deutsche Telekom • Telefónica • NTT Docomo Inc.

North America holds a significant market share due to its rapid adoption of eSIMs by smartphone manufacturers and smart device manufacturers.

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