According to a recent report published by Allied Market Research, titled,"Global Embedded SIM Market by Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global embedded SIM market was valued at $1,054.2 million in 2017 and is projected to reach at $6,886.2 million by 2025, growing at a CAGR of 30.7% from 2018 to 2025.
The e-SIM is a smart device that assists in changing the operator by updating the software settings. The current business scenario witnesses an increase in demand for automotive, particularly in the developing regions such as China, India, and others due to an increase in population and vehicle demand. The embedded SIM deliver multiple benefits to the customers such as improved experience with greater flexibility. Factors such as increase in adoption of IoT technology, rise in adoption of connected devices, and favorable government regulations boosting machine-to-machine communications drive the growth of e-SIM market globally.
The growth of e-SIM market in North America is attributed to the extensive adoption of IoT and cloud computing in the region. Intelligent devices such as autonomous car and connected automobiles and devices have greater penetration in this region, owing to an increase in the adoption of e-SIM, which is expected to propel the market growth. Furthermore, technological advancements among the various industry sectors and increased purchasing power of the residents contribute to the growth of the embedded SIM market in Europe. Moreover, rapid increase in sales of high-end cars promoted the growth of e-SIM in Europe, which drives the growth of this region.
Key Findings Of The Embedded Sim Market :
- In 2017, the connected car sub-segment generated the highest revenue in the global embedded SIM market.
- In 2017, the consumer electronics segment generated the highest revenue among the other industry vertical types in the global embedded SIM market.
The major players operating in the global e-SIM market are Deutsche Telekom AG, Gemalto NV, Infineon Technologies AG, NXP Semiconductors N.V., Sierra Wireless, STMicroelectronics, Vodafone, Giesecke & Devrient, Idemia, and NTT DOCOMO. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
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