The worldwide eSIM subscription market net value is forecast to reach over US$ 980 Mn in 2023, with a substantial CAGR of 30% expected from 2023 to 2033. According to the eSIM subscription industry analysis, the market’s entire worth would rise to US$ 13,510 Mn by 2032.
The rising use of eSIM subscriptions in consumer electronic items is being pushed by benefits such as greater connectivity, reliability, and security. The consumer electronics industry remains a crucial component affecting the development, advancement, and revolution of a number of technological services, including eSIM subscriptions.
Again, because features like eSIM 4G and 5G services make switching mobile phone network carriers easier, it would encourage more physical SIM card network providers to embrace and compete in the eSIM subscription market.
The growing trend among smartphone manufacturers to include an eSIM within the device is expected to enhance demand for eSIM subscriptions and the hardware category. Furthermore, eSIM enables the administration of M2M devices, many of which are completely remote and located, and it is expected that it will effectively have the largest market share throughout the projection period. The usage of M2M and IoT technologies in the automotive industry is also expected to raise demand for eSIM subscriptions. The GSMA Embedded SIM Specification, which will improve vehicle connectivity and pave the way for a new generation of connected cars, has just received support from the automotive industry, and it is expected to increase demand for eSIM subscriptions from a variety of connected services, allowing the industry to grow.
Key Takeaways
Due to its achievements in commercial eSIM deals as well as IoT eSIM, Giesecke + Devrient Mobile Security GmbH is the rightful leader in the eSIM subscription industry.
Thales is a close second on the list, with high marks for its operating system and interoperability, eventually topping the list of eSIM phones.
With a larger consumer base of smartphone users, Asia Pacific nations are the fastest-growing economies in terms of eSIM subscription acceptance.
Competitive Landscape
Some of the prominent companies in the worldwide eSIM subscription market include Infineon Technologies AG, NXP Semiconductors N.V., STMicroelectronics, Deutsche Telekom AG, Giesecke + Devrient Mobile Security GmbH, Gemalto NV, and ARM Holdings.
According to the eSim subscription market research, G+D leads the market and has supplied subscriptions for the greatest number of digital SIM card-capable devices, including cellphones, wearables, iPads, and iPhone dual SIM devices.
Source: Future Market Insights