Embedded Sim Esim Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Embedded Sim Esim market in 2021?

The global Embedded SIM (eSIM) market size in 2021 was valued at USD 661.1 million and is projected to grow at a CAGR of 28.3% from 2021 to 2028.

COVID-19 Impact on the Embedded Sim Esim Market

The COVID-19 pandemic had a significant impact on the Embedded SIM (eSIM) market in 2020 and 2021. The global lockdowns and restrictions disrupted the supply chains and manufacturing processes, leading to a temporary slowdown in market growth. However, the increased adoption of IoT devices and remote working solutions during the pandemic fueled the demand for eSIM technology, resulting in a rebound in the market with accelerated growth.

Embedded Sim Esim Dynamics

The Embedded SIM (eSIM) market is driven by the increasing adoption of IoT devices across various industries, such as automotive, healthcare, and consumer electronics. The eSIM technology offers benefits such as remote provisioning, enhanced security, and interoperability, leading to its widespread acceptance. Additionally, the rise in demand for connected devices and the deployment of 5G networks are expected to further propel the growth of the eSIM market in the coming years.

Segments and Related Analysis

The Embedded SIM (eSIM) market can be segmented based on application, vertical, and region. By application, the market is categorized into connected cars, smartphones, wearable devices, and others. In terms of vertical, the market can be classified into automotive, consumer electronics, healthcare, and others. Regionally, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

By Region Analysis

- North America: The North American region dominated the eSIM market in 2021, driven by the presence of key market players and the widespread adoption of IoT devices. - Europe: Europe is anticipated to witness significant growth in the eSIM market due to the increasing demand for connected technologies. - Asia Pacific: The Asia Pacific region is expected to experience rapid market growth, fueled by the expanding IoT ecosystem and the deployment of 5G networks. - Latin America: Latin America is projected to show steady growth in the eSIM market, supported by the rising digital transformation initiatives. - Middle East & Africa: The MEA region is poised for notable market growth with increased investments in digital infrastructure and connectivity.

Key Market Players and Competitive Landscape

Some of the key players in the Embedded SIM (eSIM) market include Gemalto (Thales Group), Giesecke+Devrient, Valid, STMicroelectronics, Infineon Technologies, Deutsche Telekom, NTT DOCOMO, Sierra Wireless, NXP Semiconductors, and IDEMIA. These companies are actively involved in strategic collaborations, product launches, and technological advancements to maintain their competitive edge in the market.

Recent happenings in the Embedded Sim Esim Market

- In September 2021, Gemalto, a subsidiary of Thales Group, announced the launch of a new eSIM solution for smartwatches, catering to the increasing demand for wearable devices. - In March 2021, Deutsche Telekom collaborated with IDEMIA to develop innovative eSIM technologies for seamless connectivity solutions. - In November 2020, Giesecke+Devrient introduced a new generation of eSIM technology, designed to enhance security and scalability for IoT applications.