Growth in M2M Communication in Smart Cities to Drive the eSIM Market
" The global eSIM market is expected to witness a CAGR of over 90% during 2019–2025 to exceed $700 million revenue by 2019 "
Bangalore, India, September 26, 2019: According to the recently published study “Global eSIM Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for eSIM will be driven by the growing demand for machine-to-machine (M2M) communication devices. The increasing emphasis on developing smart cities across the world has led to an increase in the adoption of M2M devices for IoT implementation. Smart cities powered by IoT helps to improve the quality of life by providing a sustainable environment, quality healthcare, and transparent governance. For instance, eSIM-enabled wearables could play a major role as a tracking device during emergencies, including natural disasters for helping the rescue forces to track the affected people. The demand for eSIM is also driven by the growing number of eSIM-enabled smartphones.
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An increase in the demand for eSIM-enabled smartphones, tablets, laptops, and M2M devices for IoT implementation is expected to continue during the forecast period 2019–2025, fueling the global eSIM market growth at a CAGR of over 90%. Also, the market size is expected to cross $700 million by the end of 2019.
North America dominates the global eSIM market, followed by APAC. The demand for eSIM in North America is fueled by the increasing adoption of IoT devices. In APAC, the demand is driven by the growing number of IoT devices, smartphones, and smart wearables with eSIM capability. Many companies in the telecom industry, including NTT Docomo, AT&T, Etisalat, Vodafone, and Telefonica have launched/committed to launching eSIM. IoT device manufacturers are among the major adopters of eSIM solution, mainly because it allows them to build devices that could be activated in any country. Mobile operators are finding the use of eSIMs as a way of offering combo offers with two or more connected devices under a single contract with the consumer.
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eSIM provides a great opportunity for the marketing and sales team since customer acquisition is relatively easier. Signing up and scanning a barcode could activate the service immediately, which could attract more consumers for network switching. However, customers eliminating in-store interactions using eSIM could lead to a scenario where telecom companies lose the opportunity to influence customer decisions based on in-store interactions.
“Features of eSIM, including device space management and the ability to change operator remotely, will be the major advantages over traditional SIM that will increase the demand for eSIM in M2M communication,” said Arjun Das, Senior Research Analyst, Infoholic Research
Key Insights of the Report Include:
- Major End-user:
- Automotive Sector
- Telecom Sector
- Utility Sector
- Manufacturing Sector
- Logistics Sector
- By Offering:
- Connectivity Management
- By Region:
- North America
- Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Kathakali Basu
Infoholic Research LLP