The United States dominates the eSIM subscription market, accounting for 40% of global revenue, outperforming other countries.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 7, 2023 /EINPresswire.com/ -- The global eSIM subscription market net worth is estimated to be around US$ 980 Million in 2023 and is anticipated to register at a significant CAGR of 30% from 2023 to 2033. The market report estimates the growth in the overall valuation of the market up to US$ 13,510 Million by 2033.

The growth of eSIM subscriptions in consumer electronic products is being driven by advantages including increased connection, high dependability, and better security. One of the key factors influencing the development, advancement, and revolution in a variety of technical services including eSIM subscriptions continues to be the consumer electronics sector. Again because switching cell phone network carriers is made simpler by features like eSIM 4G and 5G services, it would encourage more and more physical SIM card network providers to adopt and enter the eSIM subscription market competition.

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It is anticipated that demand for eSIM subscriptions may increase and the hardware category would rise as a result of the rising tendency among smartphone makers to incorporate an eSIM within the handset. Additionally, eSIM allows for the management of M2M devices, many of which are totally remote and located, and it is projected that it will effectively hold the highest share of the market during the forecast period. The use of M2M and IoT technologies in automobile industries is also anticipated to increase the demand for eSIM subscriptions as a result. The GSMA Embedded SIM Specification, which will boost vehicle connectivity and pave the path for a fresh generation of linked cars, has just received support from the automotive sector, and is anticipated that it will enhance demand for eSIM subscriptions from a number of connected services, enabling the industry to expand.

Key Takeaways from the eSIM Subscription Market Report:

Giesecke + Devrient Mobile Security GmbH is the deserving leader in the eSIM subscription market due to its performance in the commercial eSIM deals as well as the IoT eSIM arena.

Thales is a close second on the list with good ratings for its Operating System, and compatibility, ultimately leading the eSIM phone list.

Asia Pacific countries are the fastest-growing economies in the adoption of eSIM subscriptions with a higher consumer base of smartphone users.

"The eSIM Subscription Market continues to exhibit robust growth and market penetration, driven by the increasing adoption of IoT devices and the convenience offered by eSIM technology. Our latest market research study underscores the escalating demand for eSIM subscriptions, as consumers and businesses alike seek flexible, remote provisioning options for their connected devices. With the proliferation of eSIM-enabled devices across various industries, the eSIM Subscription Market is poised for substantial expansion in the coming years." - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive Landscape for the eSIM Subscription Market:
The eSim subscription market report states that G+D tops the market and has provided subscriptions for the highest number of devices with digital SIM card capabilities, including cellphones, wearables, iPads, and iPhone dual SIM devices

Leading Key Players:

Infineon Technologies AG.
NXP Semiconductors N.V.
STMicroelectronics
Deutsche Telekom AG
Giesecke+Devrient Mobile Security GmbH
Gemalto NV
ARM Holdings

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Recent Developments in the eSIM Subscription Business:

In collaboration with Sequans, Kigen provided the first EAL5+-approved iSIM hardware to the market in the previous year. Numerous strong and solid collaborations that span the whole value chain have been developed by Kigen, enabling it to penetrate the market and operate at scale.
In conjunction with Bayerische Motoren Werke AG, Deutsche Telekom AG released the first version of in-car 5G and personal eSIM networking possibilities in September 2021. Vehicle communication with that of the customer's cell device can now be connected through 5G using personal eSIM provided by Deutsche Telekom AG

eSIM Subscription Market Segmentation:

By Solution:

Hardware
Connectivity Services
Others

By Application:

Connected Cars
Laptops
M2M
Smartphones
Tablets
Wearables
Others (Drones, Smart Meters, Smart Grids)

By End User Verticals:

Automotive
Consumer Electronics
Energy & Utilities
Manufacturing
Retail
Transportation & Logistics
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

Author By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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