eSIM Market Outlook and Opportunities in Grooming Regions with Forecast 2030

MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global eSIM Market.

eSIM Market Overview 

The eSIM market is anticipated to witness healthy growth from 2022 to 2030, a research report suggests. Growing at a CAGR of 31.40%, the market is projected to reach USD 5.77 Billion by 2030. The advantages of eSIM are expected to support the market growth along with the use of cloud-based eSIM for IoT devices. As predicted by analysts, the lack of technical expertise will negatively affect the market’s performance from 2019 to 2024. During the forecast period, the market will be supported by technological advancements and consumers aiming for more convenience. Security threats in wireless communication on the other hand will challenge embedded SIM card sector-based organizations functioning in the global eSIM market. 

Analysts have split the market into end-user and regions segments based on products and services. Embedded SIM card based companies have been profiled. Changing trends in network techniques is set to affect the global market during the forecast period from 2022 to 2030. The report also provides the market’s performance forecasts till 2024. Analysts have studied the strategy of embedded SIM card segment based organizations to help new entrants and established businesses. The embedded SIM card sector itself is supported by the increasing awareness among consumers as well as technological developments. During the forecast period 2022 to 2030, the eSIM market is set to witness a health growth across end-user and regions segments as well as regional markets. 

Market Segmentation

The embedded SIM card sector has seen growth across end-user and regions segments owing to the changing social behaviour and favorable policies across regional markets. To study the market, analysts have further segmented end-user and regions into automotive, transportation & logistics, consumer electronics, energy & utilities, manufacturing, and retail on the basis of end-user. 

The segmental analysis presented in the report provides embedded SIM card field based organizations insights into key growth factors such as the increasing spending power of consumers as well as challenges such as the lack of investments the market will face from 2019 to 2024. The increasing preference of consumers and the rise in distribution channels are some of the key factors having an influence on embedded SIM card industry based companies, suggest analysts as per the eSIM market report. But the report also identifies the unavailability of professional services and the lack of investments in research and development as major threats companies in embedded SIM cards will face till 2024.  

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Regional Overview 

Embedded SIM card market based companies in the eSIM market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The rising industrialization will be a key growth driver for regional markets. However, the lack of demand from developing countries will turn out to be a threat. For the forecast period 2022 to 2030 each of these regional markets are studied in the report. Starting from North America, the regional market and embedded SIM card vertical based companies are spread across the United States, Canada, and Mexico. 

The lack of investments from major companies will turn out to be a major challenge from 2022 to 2030. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by advancements in technology as well as the growth of communication channels, suggests the report. Similarly, the embedded SIM card sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the eSIM market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2024. 

Competitive Landscape 

The global eSIM market research report brings a comprehensive study of end-user and regions market segments, regional analysis, and embedded SIM card vertical based company details of key players. As the forecast period 2022 to 2030 will bring new opportunities for the market owing to the surging usage across different industries and the rise in distribution channels, the market is set to grow at a compound annual growth rate of 28.0% and is predicted to reach a value of US$913.9 million by 2024. With SWOT analysis of embedded SIM card sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the increasing demand for highly skilled professionals and high initial investments, companies in the embedded SIM card sector can change the way business is done. 

Industry News 

Tata Communications, a digital media group, announced on Wednesday that it had acquired a 58.1 percent stake in Oasis Smart SIM Europe SAS, a French eSIM company (Oasis). To support the application of eSIM and SIM technology, Oasis develops and delivers advanced software and personalised services. Tata Communications said in a statement that eSIM technology would be completely incorporated into its networking service offering as a result of this investment. For Internet of Things (IoT) and machine-to-machine (M2M) applications, eSIMs provide convenient, stable, and cost-effective cellular connectivity. Unlike standard SIM cards, new eSIM connections can be enabled and customized remotely.