According to a new market research report published by Credence Research “E-Sim Devices Market (Vertical – Automotive, Consumer Electronics, Energy & Utilities, Manufacturing, Retail, Transportation & Logistics ; Application- Connected cars, Laptops, M2M, Smartphones, Tablets, Wearables) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall e-SIM devices market worldwide is set to grow with a CAGR of 32% during the forecast period.
The overall e-SIM devices market is significantly driven by superior advantages over conventional sim cards. The booming IoT sector has driven the e-SIM market, thereby supporting the demand for e-SIM compatible devices. In 2018, the total number of devices connected over IoT were more than 7 Bn. E-sims are available in compact sizes, secure and rugged. Growing demand for smart devices and mobile phones is driving the demand for e-SIM market. Further, an increasing trend of smart homes, connected devices and consumer inclination towards connected equipment has supported the e-SIM devices market. As a result of these factors, we are expecting high growth in e-SIM devices market during the forecast period.
Based on vertical type, consumer electronic segment shall dominate the market during the forecast period. Technological advancements in smartphones and TVs are driving the demand for enhanced connectivity and network. Further rise in demand for IoT and cloud computing shall drive the incorporation of these digital chips to utilize them in providing customers exceptional benefits. Notably, e-SIM enables the devices to be reprogrammable and support multiple profiles. The integrated features offered by IoT and other smart-tech options shall boost the requirement for smart infrastructures in the e-SIM devices market. Due to these factors, consumer electronics shall drive the growth of e-SIM devices market during the forecast period.
Based on the geography, Europe leads the e-SIM devices market and contributed over 1/3rd to the total revenue of e-SIM devices market. The increased focus on the linking and digitization of future products and services has boost the growth of the e-SIM devices market in Europe. Asia-Pacific is expected to lead the e-SIM devices market growth during the forecast period. Growing adoption of technological advancements across a myriad of verticals, such as energy and utilities, consumer electronics, manufacturing, and transportation & logistics in Asia-Pacific shall further drive the market. Further, changing lifestyle and adoption of smart technologies is the new trend in the region. As a result of these factors, Asia Pacific is set to grow with the highest CAGR during the forecast period.
Some of the major companies profiled in the report include Deutsche Telekom AG, Gemalto NV, Giesecke & Devrient GmbH, Infineon Technologies AG, NTT DOCOMO, INC., NXP Semiconductors, N.V., Sierra Wireless, Inc., Singapore Telecommunications Limited, STMicroelectronics, Telefónica, S.A., Samsung Electronics, Singtel, Apple, Inc. and AT&T and others.
Our Blog: Home – Target Market Size