The global eSIM market size was US$ 691.2 million in 2021. The global eSIM market is forecast to grow to US$ 6609.8 million by 2030 by registering a compound annual growth rate (CAGR) of 31.1% during the forecast period from 2022 to 2030.
The Embedded Subscriber Identity Module or eSIM is used to confirm the identity of the users with their carrier. eSIM is a very clever piece of software in terms of functionality, which enables users to switch between different mobile network operators (MNOs) and manage their accounts.
Factors Influencing the Market
COVID-19 Impact Analysis
The COVID-19 pandemic declined the growth of the eSIM market. Considering the effect of the pandemic on both the consumer and Market-to-Market (M2M), the eSIM industry witnessed a significant downfall. Furthermore, the market is expected to witness ample growth opportunities in the coming years as the governments ease lockdown restrictions.
Regional Analysis
Based on the regions, the Asia-Pacific eSIM market is forecast to emerge as the largest market. It is owing to the growing range of technological advancements in countries like China, India, Japan, South Korea, etc. Furthermore, the strong economic growth of emerging countries will offer ample growth opportunities for this regional eSIM market. The market may also witness growth due to improving infrastructure and rising initiatives by government bodies. Furthermore, the region is home to the prominent automotive and consumer electronics industry. As a result, it will be opportunistic for the players in the eSIM market during the forecast period.
Competitors in the Market
Market Segmentation
The global eSIM market segmentation focuses on Application, Industry Vertical, and Region.
By Application Outlook
By Industry Vertical Outlook
By Regional Outlook