eSIM Market is expected to reach USD 2,282.27 Mn by 2027

Increasing demand for seamless M2M communication to lead eSIM market growth at 27.36%CAGR during 2020–2027

According to our latest market study on "eSIM Market to 2027 – COVID-19 Impact and Global Analysis and Forecast by Application (Connected Cars, Laptops and Tablets, M2M, Smartphones, Wearables, Others); Vertical (Automotive, Energy and Utilities, Manufacturing, Retail, Consumer Electronics, Transportation and Logistics, Others); and Geography" the market was valued at US$ 392.74 million in 2019 and is projected to reach US$ 2,282.27 million by 2027; it is expected to grow at a CAGR of 27.36% from 2019 to 2027.

The report highlights the key factors driving the market growth, and prominent players and their developmentsin the market.

With continuous technological advancements in the field of SIM, several telecom companies and SIM developers have developed and commercialized embedded SIM, also known as embedded Universal Integrated Circuit Card (eUICC). Unlocking the potential for M2M communication, eSIM has significantly marked a new shift to the market. Various mobile networks are delivering connectivity to a broad range of devices with the help of eSIM. The machine-machine (M2M) communication is steadily growing in variety of applications across the globe. The M2M technologies are transforming the organization's operational pattern and are creating new revenue generation streams. Automotive, manufacturing, and consumer electronics industries are among the leading industries to integrate their manufacturing facilities with M2M communication technologies in order to facilitate communication. The acceptance of the connected ecosystem has revolutionized the industries such as manufacturing, utilities, automotive, and others. The advent of 5G and M2M communication are significantly driving the global eSIM market.M2M, along with the offerings of eSIM to drive socio-economic benefits to industries and government. It has led to unlocking new areas of revenue growth. The key factors for the demand for M2M communication are increasing operational efficiencies and high focus on customer experiences. Moreover, the evolving partnership in the digital ecosystem is creating significant opportunities for network providers and M2M service providers. 

Growth in the adoption of M2M communication is creating significant opportunities for eSIM providers. Global M2M communication is expected to cross US$35 billion by 2022. This high growth in M2M communication is expected to create significant global demand for eSIM.       

Deutsche Telekom AG, Gemalto NV, Giesecke + Devrient Mobile Security GmbH, IDEMIA, Infineon Technologies AG, NXP Semiconductors N.V., Sierra Wireless, STMicroelectronics, Telefónica S.A, and Vodafone PLC are the leading players operating in the embedded SIM (eSIM) market. Several other players are also functioning and are contributing significant revenues in the embedded SIM (eSIM) market.

COVID-19 Impact on eSIM Market

According to World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 as well. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global eSIM market as they are the major demand generation industries for eSIMs. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that is suffering serious disruptions due to supply chain issues and manufacturing shutdowns.

eSIM Regional Growth  2020–2027

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eSIM Market Size, Share and Global Industry Analysis 2027

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eSIM Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Application (Connected Cars, Laptops and Tablets, M2M, Smartphones, Wearables, Others); Vertical (Automotive, Energy and Utilities, Manufacturing, Retail, Consumer Electronics, Transportation and Logistics, Others)

The report segments the global eSIM market as follows: 

By Application

• Connected Cars
• Laptops and Tablets
• M2M
• Smartphones
• Wearable
• Others

By Vertical

• Consumer Electronics
• Automotive
• Energy and Utilities
• Manufacturing
• Retail
• Transportation and Logistics
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM