As the confirm cases of Covid-19 fewer and fewer, many countries has revived the tourist spot for travellers. On the other hand, network market grow ing at a fast pace and many tourist need sim card, roaming, eSIM for going abroad. Above all is the global eSIM market size, trends, value and growth.
Global eSIM Market Analysis
eSIM(Embedded SIM) actually is a hardware chipset which is set up in the device permanently, in which the mobile network could store the data via the radio signals. Moreover, chipset’s size is smaller than a nano SIM which is more convenient for users and can be reprogrammed by the software. With eSIM, multiple devices can work at the same time with only one device, one profile. Also, you can use your device with different profiles at the same time.
In 2020, the global eSIM market size was estimated at USD 7.7 billion and expected to reach USD 16.6 billion by 2026 with more than 15% CAGR(Compound Annual Growth Rate). The number of IoT connected devices in different end-use verticals such as automotive, consumer electronics, and energy and utilities has increased sharply. In addition, eSIM technology has led to developments in the connected ecosystem by enabling secure Machine-to-Machine (M2M) communication. Therefore, eSIM offers reliable, save, and affordable cellular connection for IoT/ M2M applications due to which there has been raised adoption of the wireless cellular-based solution such as eSIMs amongst various end-use verticals.
Global eSIM Market Size
eSIM, is largely applied in many areas around IoT industry, smartphones, laptops, tablets, cars, automotive, manufacturing, retail, transportation and many other fields in our life. Many companies are excited about eSIM that not only instead existing sim card but support new types of devices with less damage. Easier and more convenient for travellers, support higher communication speed with lower latency and no worry about changing sim card during the journey.
Despite the COVID-19 and pandemic, the eSIM technology is still improving and put on a good show on the market. As 5G is coming, it will allow faster data send and receive and better communication. In the past two years, many telecom service provider started offering eSIM for devices like Apple devices, Windows 10 enterprise devices and other internet access from smartphones.
Global eSIM Market Growth
Future is coming, electric vehicles are the future. Although chip shortages hit the industry around the world, electric cars’ factories are still at full capacity. Lots of advanced features for electric vehicles that eSIM provides, is expected to support growth in this field by government support.
Sales of electric Vehicles around the world increased sharply in 2020. Despite car sales slumping during the pandemic due to COVID-19, it has been rising a lot to over 3 million. The growth in the field bring loads of chance for new start-ups, remote connection, battery technology and product design.
Not only electric cars but IoT connection industry around our life every day, embedded SIM(eSIM) solutions for 5G technology are a convenient and cost-effective proposal for consumers. It brings better life quality and efficient productivity.
Global eSIM Market Overview
There are specific restrictions and challenges faced which will prevent the market growth. With technical improvements, IoT devices, and also the spreading of M2M services, it comes to be more vital to ensure safe and secure and reliable communication amongst connected systems. Therefore, the project of preserving the security of these systems has become complex. Embedded SIM(eSIM) allows remote provisioning of SIM profiles by enabling automatic interoperability within connectivity platforms and multiple SIM operator profiles.