The worldwide eSIM subscription market net value is forecast to reach over US$980m in 2023, with a substantial CAGR of 30% expected from 2023 to 2033.
According to the eSIM subscription industry analysis, the market’s entire worth would rise to US$13,510m by 2032.
The rising use of eSIM subscriptions in consumer electronic items is being pushed by benefits such as greater connectivity, reliability, and security. The consumer electronics industry remains a crucial component affecting the development, advancement, and revolution of a number of technological services, including eSIM subscriptions.
Again, because features such as eSIM 4G and 5G services make switching mobile phone network carriers easier, it would encourage more physical SIM card network providers to embrace and compete in the eSIM subscription market.
The growing trend among smartphone manufacturers to include an eSIM within the device is expected to enhance demand for eSIM subscriptions and the hardware category.
Furthermore, eSIM enables the administration of M2M devices, many of which are completely remote and located, and it is expected that it will effectively have the largest market share throughout the projection period.
The usage of M2M and IoT technologies in the automotive industry is also expected to raise demand for eSIM subscriptions. The GSMA Embedded SIM Specification, which will improve vehicle connectivity and pave the way for a new generation of connected cars, has just received support from the automotive industry, and it is expected to increase demand for eSIM subscriptions from a variety of connected services, allowing the industry to grow.
Due to its achievements in commercial eSIM deals as well as IoT eSIM, Giesecke + Devrient Mobile Security GmbH is the rightful leader in the eSIM subscription industry. Thales is a close second on the list, with high marks for its operating system and interoperability, eventually topping the list of eSIM phones.
With a larger consumer base of smartphone users, Asia Pacific nations are the fastest-growing economies in terms of eSIM subscription acceptance.
Some of the prominent companies in the worldwide eSIM subscription market include Infineon Technologies AG, NXP Semiconductors, STMicroelectronics, Deutsche Telekom AG, Giesecke + Devrient Mobile Security GmbH, Gemalto NV, and ARM Holdings.
According to the eSim subscription market research, G+D leads the market and has supplied subscriptions for the greatest number of digital SIM card-capable devices, including cellphones, wearables, iPads, and iPhone dual SIM devices.
Recent developments in the eSIM subscription business
In the previous year, Kigen released the first EAL5+-approved iSIM hardware to the market in conjunction with Sequans. Kigen has built several strong and reliable alliances that cover the whole value chain, allowing it to penetrate the market and operate at scale.
In September 2021, Deutsche Telekom AG, in collaboration with Bayerische Motoren Werke AG, unveiled the first version of in-car 5G and personal eSIM networking capabilities. Vehicle communication with the customer’s cell device may now be linked through 5G utilizing a personal eSIM offered by Deutsche Telekom AG.