eSIM Market is anticipated to grow at a substantial CAGR from 2019 to 2030

Market Industry Reports (MIR) has published a new report titled “eSIM Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global eSIM market is estimated to be over US$ 333.3 Mn in 2019. It is anticipated to grow at a substantial CAGR from 2019 to 2030.

The simplification of operators logistics and accelerated growth of Machine to Machine (M2M) services are among the vital advantages offered by eSIMs. eSIMs enable users to remotely manage profiles, change networks, and update settings with the help of Remote SIM Provisioning (RSP) solutions. In addition, eSIMs offers additional security against data theft. For instance, if an individual tries to change the profile of an eSIM, a specific key is required, which acts as an extra layer of security. If one does not have the necessary key, the feature of changing the current customers profile is deemed unavailable.

According to the industrial point of view, eSIMs improve the implementation of cellular connectivity on industrial devices/equipment. This, in turn, solves the problem of manually managing the work, since operations on a device are remotely managed by cellular connectivity solutions. There are several government initiatives promoting the use of eSIM across several industrial verticals, such as automotive, consumer electronics and energy & utilities, to promote the growth of eSIMs globally. For instance, by 2020, the European Commission is aiming to replace approximately 80% of the electric meters with smart meters for all its member states.

Cloud-based hacking is one of the major concerns associated with the adoption of eSIMs and therefore poses a significant challenge to the growth of eSIMs. For instance, in the case of internet-connected vehicles, security is a major concern as hackers can track the location or remotely access eSIM systems and disable the vehicle, thereby causing accidents. Moreover, difficulties in operator management are also restraining market growth to a certain extent.

Browse key industry insights spread across 170 pages with market data tables & figures & charts from the report, eSIM Market, By Device (Connected Cars, Smartphones, and Wearable’s) By End Use Industry (Automotive, Consumer Electronics, and Energy & Utilities) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:

Asia Pacific is will account for the highest CAGR in the eSIM market in the coming years. The rising adoption of smartphones & fitness devices in China, Japan, and India, is one of the major factors anticipated to drive market growth in this region. Moreover, the increasing focus of key players in this region is contributing significantly to market growth. For instance, in July 2018, Plintron, in partnership with BSNL, announced the launch of its Global IoT connectivity brand eSIM4Things in India. eSIM4Things connectivity has global coverage and compatibility with various IoT devices & several industry vertical applications.

Some of the prominent players in the eSIM market include Gemalto NV, Giesecke+Devrient GmbH., Infineon Technologies AG, STMicroelectronics, Workz Group, Truphone Limited, NXP Semiconductors., Sierra Wireless, Valid, and Plintron, among others

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