The growing adoption of IoT connected devices and rising government initiatives to promote electric vehicles is driving the demand for the market
Vancouver, BC -- (SBWIRE) -- 02/05/2021 -- An embedded SIM (eSIM) is one that cannot be removed from the device and prevents any damage to the SIM for multiple removal and insertion of the SIM. The growing adoption of IoT connected devices and soaring government support for promoting electric vehicles drive the market demand. The global embedded SIM (eSIM) market is projected to reach USD 3019.1 Million by 2027 at a CAGR of 29.9%, according to a recent report published by Emergen Research.
The consumer electronic segment is expected to witness significant growth over the forecast period owing to the rising adoption of eSIM by smartphone manufacturers to develop slimmer devices. It is expected that eSIM will have a positive impact on the consumer electronic segment due to its Improved safety and connectivity as well as elevated stability.
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The market for Embedded SIM (eSIM) is consolidated, with a few numbers of large and medium, and small-sized players. Some of the top players in the Embedded SIM (eSIM) market comprise: KORE Wireless Group Inc., Giesecke+Devrient Mobile Security GmbH, Arm Limited, Gemalto NV, STMicroelectronics, Infineon Technologies AG, NXP Semiconductors N.V., Deutsche Telekom AG, Sierra Wireless Inc., and Vodafone Group Plc among others.
Embedded SIM Market Drivers
The market is expected to observe significant growth during the forecast period, owing to the growing adoption of IoT connected devices, which are connected wirelessly and functions remotely, thus limiting the use of conventional SIM cards and encouraging the use of eSIM in these devices. These are widely used in electric cars to detect location, detect the nearest charging infrastructure, notify the manufacturer about the battery life, and display the car's battery life. Furthermore, growing government initiatives to encourage the use of electric vehicles will boost the market demand during the forecast period.
Solution Outlook (Revenue, USD Million; 2017-2027)
Hardware
Connectivity Services
Application Outlook (Revenue, USD Million; 2017-2027)
Smartphones
Laptops
Wearables
Connected Cars
Machine to Machine
Others
End-Use Outlook (Revenue, USD Million; 2017-2027)
Energy & Utilities
Automotive
Retail
Manufacturing
Transportation & Logistics
Consumer Electronics
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Embedded SIM Market Regional Analysis
North America is expected to be the leading market shareholder throughout the forecast period due to the growing implementation of smart grids and other solutions. Due to the key market players' existence in the region, Europe is projected to hold a significant revenue share. On the other hand, the Asia Pacific region is expected to observe considerable growth, owing to the growth of the automobile industry in the region.
Table of Content
Chapter 1. Methodology & Solutions
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Solutions
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Solutions
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Embedded SIM (eSIM) Segmentation & Impact Analysis
4.1. Embedded SIM (eSIM) Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. The increasing number of IoT connected devices
4.2.2.2. The rising government initiatives for the promotion of electric vehicles
4.2.3. Market restraints analysis
4.2.3.1. Lack of Standardization
4.2.3.2. High cost compared to conventional SIM
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Embedded SIM (eSIM) By Solution Insights & Trends, Revenue (USD Million)
5.1. Solution Dynamics & Market Share, 2019 & 2027
5.1.1. Hardware
5.1.2. Connectivity Services
Chapter 6. Embedded SIM (eSIM) By Application Insights & Trends Revenue (USD Million)
6.1. Application Dynamics & Market Share, 2019 & 2027
6.1.1. Smartphones
6.1.2. Laptops
6.1.3. Wearables
6.1.4. Connected Cars
6.1.5. Machine to Machine
6.1.6. Others
Continue…!
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