eSIM Market to Observe Strong Growth by 2029: Sierra Wireless, IDEMIA, Workz Group
Published Via 11Press: According to HTF Market Intelligence, the market for Global eSIM is expected to register a CAGR of 8.79% during the forecast period to 2029.
eSIM Industry Background: eSIM is referred to as an embedded universal integrated circuit card (eUICC) by the GSMA, a worldwide association of cell carriers that is in charge of creating the global telecommunications framework. Compared to old plastic, detachable SIM cards, the eUICC offers greater flexibility because devices can join straight away, wherever they are placed, or may relocate while in operation.
Key Developments in the Market:
On September 26, 2022, Cloudflare introduces an eSIM to protect mobile devices. The security firm Cloudflare developed the first method for safeguarding every data packet that leaves mobile devices, the Cloudflare Zero Trust SIM, performance, and reliability company Cloudflare, Inc., which is contributing in the development of a better Internet. Businesses will be able to seamlessly connect devices with Cloudflare’s Zero Trust platform, protect their network and employees no matter where they are working, and attach staff devices to Cloudflare’s worldwide network fast and securely using the Zero Trust SIM that Cloudflare is developing. eSIM technology presents a number of chances for businesses to enhance their operations, draw in and keep clients, and enter new markets. We may anticipate seeing even more cutting-edge use cases and advantages emerge as the technology develops and becomes more widely used.
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Major Companies Mentioned in This Report
- ARM Holdings (United Kingdom)
- Deutsche Telekom AG (Germany)
- Giesecke+Devrient Mobile Security GmbH (Germany)
- Gemalto NV (Netherlands)
- Infineon Technologies AG (Germany)
- KORE Wireless Group (United States)
- NXP Semiconductors N.V. (Netherlands)
- Sierra Wireless (Canada)
- STMicroelectronics (Switzerland)
- Workz Group (UAE)
- IDEMIA (France)
eSIM Market Key Business Segments
By Type
- Consumer Device
- Smartphone
- Tablates
- Others
By Application
- Connected Cars
- Laptops
- M2M Smartphone
- Tablets
- Wearables
- Others
Market Growth Drivers:
- The “eSIM” refers to a brand-new class of electronic sim technology; in other words, this kind of sim card is already embedded or integrated into gadgets like laptops, smartphones, tablets, smart home devices, etc.
- The use of eSIM cards for machine-to-machine communication is also possible in linked autos and industrial Internet of Things applications in the oil, gas, electricity, and utility industries. Thanks to eSIM technology, which eliminates the need for a physical SIM card, users may easily activate their devices and connect to a mobile network.
- Without changing out physical SIM cards, users can change between different mobile network carriers by using eSIM technology.
- Users now have more freedom and flexibility in their ability to switch networks quickly when on the go or if they’re dissatisfied with their existing service provider. Because they are integrated into the device itself and take up less space than traditional SIM cards, eSIMs are ideal for usage in smaller gadgets like wearables or Internet of Things (IoT) devices.
Restraints:
- Due to the fact that not all mobile handsets and network providers have eSIM support yet, some consumers may find it to be less useful. For users of traditional SIM cards, the option exists to change to any network operator that recognizes their device.
- When utilizing eSIM technology, users can only access the networks that the producer or supplier of their mobile device supports. The cost of eSIM technology may be higher than that of traditional SIM cards due to its complexity and need for specialized gear.
- Users may be more likely to continue with their current network provider with the aid of eSIM technology because moving to a different network operator may require more procedures and technical knowledge. Despite the fact that eSIM technology can provide better security features, the risk of data loss still exists. breaches and hacker attempt that risk compromising the security and privacy of users.
Opportunities:
- Users with greater adaptation to eSIM technology can switch between different mobile network carriers and service plans fast without physically changing SIM cards. Users are given more flexibility and choice while also benefiting from more competitive pricing and service options, which also helps businesses attract and retain consumers.
- With the use of eSIM technology, businesses may expand into new markets by giving customers more flexible and economical options. Businesses might offer specific subscriptions, for example, for frequent travelers or IoT devices that require adaptive and straightforward connectivity alternatives. It is easier for businesses to manage subscriptions and offer services to clients thanks to the capabilities of eSIM technology to remotely control SIM profiles.
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Against this Challenging Backdrop, eSIM Study Sheds Light on
— The current state of the eSIM Market and its essential features. To put an end to this, analysts at HTF Market Intelligence organized and conducted surveys of the eSIM industry players. The resulting snapshot provides a foundation for understanding why and how the eSIM business is anticipated to change.
— The eSIM market will develop in the future. Financial analyses, surveys, and expert interviews provide insights.
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Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 434 322 0091
[email protected]
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