e-SIM Market to Attain an Outstanding Valuation of USD 44,739.5 Million by 2024

Pune, India, July 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global E-SIM Market.

Overview

The Global E-SIM Market is expected to reach 913.9 million by 2024, growing at a CAGR of 28.0% during the forecast period (2018–2024). In this report, Market Research Future (MRFR) includes segmentation and market dynamics to offer a better glimpse of the market in the coming years.

The adoption of IoT in consumer and industrial sectors is driving the growth of the e-SIM market. The e-SIM standard has been developed to overcome the limitations of traditional SIM cards and meet the connectivity needs of new-age connected devices such as smart robots and automobiles. The e-SIM market is growing due to the growth of IoT applications across industries. IoT devices require seamless connectivity, and traditional SIM cards are limited in their provisioning capabilities which is important for IoT devices. e-SIM allows over-the-air remote provisioning, which eliminates the need for physical SIM cards.

The e-SIM market faces a few challenges in the consumer market, related especially to customer churn and loyalty. Since e-SIMs do not require physical cards and operator provisioning can be done over-the-air without visiting a physical operator store. This would leave no incentive for customer interaction and loyalty since physical interaction becomes redundant. Mobile operators are trying to figure out a way to overcome this challenge before supporting the technology on a mass scale.

Segmental Analysis

The e-SIM market has been segmented into end user and region.

Based on the end user, the e-SIM market has been segmented into automotive, energy & utilities, manufacturing, retail, consumer electronics, and transportation & logistics. Consumer electronics accounted for the largest market share with a market value of USD 76.7 million in 2018; it is expected to dominate the market during the forecast period. The manufacturing segment is projected to grow with a significant CAGR during the forecast period as it is a frontrunner in the implementation of industrial IoT solutions.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/esim-market-6619

Competitive Analysis

The prominent players that operate in the e-SIM market are Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), NXP Semiconductors (Netherlands), Gemalto NV (Netherlands), Deutsche Telekom AG (Germany), Giesecke+Devrient GmbH (Germany), NTT Docomo, Inc. (Japan), Sierra Wireless., (Canada), Telefonica S.A. (Spain), and Singtel (Singapore).

Regional Analysis

The regional analysis for the global e-SIM market has been done for North America, Europe, Asia-Pacific (APAC), the Middle East & Africa, and South America.

North America accounted for the largest share in 2018; it is expected to retain its position in the market during the forecast period. The key factors driving the growth of e-SIM market in the region include the growing adoption of IoT-based smart factories and the extensive support from network operators for e-SIM standards.

Asia-Pacific is expected to witness the highest CAGR of 29.4% during the forecast period. For the purpose of this study, Asia-Pacific has been categorized into China, Japan, India, South Korea, and the rest of Asia-Pacific. Growth in this region can be attributed to the presence of active players in China, Japan, South Korea, India, and Hong Kong. The players operating in Asia-Pacific are Airtel, Reliance Jio, NTT Docomo, Inc. and others. Other key players of this market are expanding their services to the Asia-Pacific market by collaborating with network and component providers. India is expected to be a leading region in the market during the forecast period.