DUBAI, United Arab Emirates, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The global eSIM subscription market net worth is estimated to be around US$ 980 Mn in 2023 and is anticipated to register at a significant CAGR of 30% from 2023 to 2033. The eSIM subscription market report estimates the growth in the overall valuation of the market up to US$ 13,510 Mn by 2032.
The growth of eSIM subscriptions in consumer electronic products is being driven by advantages including increased connection, high dependability, and better security. One of the key factors influencing the development, advancement, and revolution in a variety of technical services including eSIM subscriptions continues to be the consumer electronics sector.
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Again because switching cell phone network carriers is made simpler by features like eSIM 4G and 5G services, it would encourage more and more physical SIM card network providers to adopt and enter the eSIM subscription market competition.
It is anticipated that demand for eSIM subscriptions may increase and the hardware category would rise as a result of the rising tendency among smartphone makers to incorporate an eSIM within the handset. Additionally, eSIM allows for the management of M2M devices, many of which are totally remote and located, and it is projected that it will effectively hold the highest share of the market during the forecast period. The use of M2M and IoT technologies in automobile industries is also anticipated to increase the demand for eSIM subscriptions as a result. The GSMA Embedded SIM Specification, which will boost vehicle connectivity and pave the path for a fresh generation of linked cars, has just received support from the automotive sector and is anticipated that it would enhance demand for eSIM subscriptions from a number of connected services, enabling the industry to expand.
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Key Takeaways from the eSIM Subscription Market Study
- Giesecke + Devrient Mobile Security GmbH is the deserving leader in the eSIM subscription market due to its performance in the commercial eSIM deals as well as IoT eSIM arena.
- Thales is a close second on the list with good ratings for its Operating System, and compatibility, ultimately leading the eSIM phone list.
- Asia Pacific countries are the fastest-growing economies in the adoption of eSIM subscriptions with a higher consumer base of smartphone users.
Competitive Landscape for the eSIM Subscription Market
Infineon Technologies AG., NXP Semiconductors N.V., STMicroelectronics, Deutsche Telekom AG, Giesecke + Devrient Mobile Security GmbH, Gemalto NV, ARM Holdings are some of the major players in the global eSIM subscription market.
The eSim subscription market report states that G+D tops the market and has provided subscriptions for the highest number of devices with digital SIM card capabilities, including cellphones, wearables, iPads, and iPhone dual SIM devices.
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Recent Developments in the eSIM Subscription Business
In collaboration with Sequans, Kigen provided the first EAL5+-approved iSIM hardware to the market in the previous year. Numerous strong and solid collaborations that span the whole value chain have been developed by Kigen, enabling it to penetrate the market and operate at scale.
In conjunction with Bayerische Motoren Werke AG, Deutsche Telekom AG released the first version of in-car 5G and personal eSIM networking possibilities in September 2021. Vehicle communication with that of the customer's cell device can now be connected through 5G using personal eSIM provided by Deutsche Telekom AG.
Key Market Segments of eSIM Subscription Market
- Connectivity Services
- Connected Cars
- Others (Drones, Smart Meters, Smart Grids)
By End User Verticals:
- Consumer Electronics
- Energy & Utilities
- Transportation & Logistics
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
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