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Global E-SIM Card (Embedded SIM) Market by Manufacturers, Regions, Type and Application, Forecast to 2023Wiseguyreports.Com Adds “E-SIM CARD - Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2023” To Its Research Database
Market Overview
As per this latest report, the global E-SIM card market is expected to attain greater heights on the growth chart, as compared to conventional SIM cards over the forecast period. E-SIM card enables the changing of mobile network operators in just a few clicks, which cannot be possible through conventional SIM cards. For instance, the ability to switch network providers over the air in machine to machine systems like smart meters, as well as connected cars has led to substantial advantages in the reduction of logistics and operational costs.
Many factors are contributing to the burgeoning of the market over the forecast period. The compact design of E-SIM card and the standardization of technical specifications for this technology is also a driving factor, contributing to the growth of E-SIM card market. This is attributable to the standardization of Groupe Speciale Mobile Association, which has more than 800 mobile operations across the globe. Moreover, the compact design of E-SIM cards has several advantages for original equipment manufacturers, enabling increments in battery size or in the provision of additional storage in electronic devices.
Market Segmentation
The global E-SIM card market is segmented and studied for various segments which are based on product, application, and region. Based on product, the global E-SIM card market is segmented into SMD and SIP. Based on application, the global E-SIM card market is segmented into wearable and companion devices, smartphones, M2M, and tablets and laptops. The M2M segment is studied for various other applications such as connected cars and utility. Among these segments, based on application, the smartphone segment is expected to lead the global E-SIM card market during the review period, owing to many factors. Within M2M segments, the connected car segment is expected to witness sizeable growth during the forecast period.
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Detailed Regional Analysis
The global E-SIM card market has been studied for several geographical segments including North America, South America, the Middle East & Africa, Asia Pacific, and Europe. Asia Pacific is likely to witness the peak growth in the global E-SIM card market during the estimate period. Such rapid mushrooming of the market in this region can be accredited to the rising adoption of embedded SIM technology in M2M devices across several countries, including Japan and China.
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At the beginning of the forecast period, Europe stood in the foremost position and is also expected to upscale at an impressive CAGR through the forecast period. This can be owed to favorable government initiatives for the implementation of ‘Industry 4.0’ technology and solutions. Important growth pockets present in the European E-SIM card market include the UK, France, and Germany.
North America is expected to stand second in the E-SIM card market, after Europe. The US is expected to arise as the largest country-specific market for E-SIM cards in North America, owing to the increasing adoption of technology as well as the presence of several market giants in the region.
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