The global eSIM market was valued at US$ 8.3 Bn in 2019 and is expected to reach US$ 19.3 Bn by 2027 at a CAGR of 15.9% between 2020 and 2027.

 

The worldwide eSIM market is relied upon to observe huge development during the conjecture time frame (2020–2027) because of expanding request from shopper hardware, for example, cell phones, tablets, and others.Moreover, expanding extra cash in created and arising economies has prompted higher spending on cell phone gadgets. As per the National Bureau of Statistics (NBS), China's rustic and metropolitan per capita discretionary cashflow arrived at US$ 5,658.45 from US$ 2,107.2 in 2018. Also, as per the U.S. Department of Economic Analysis (BEA), expendable individual pay in the U.S. expanded to US$ 16,706.40 billion in December 2019 from US$ 16,675.80 billion in November 2019. Also, cell phone produces are zeroing in on growing new trend setting innovation cell phones and a few telecom ventures are getting benefits because of these new turns of events. Subsequently, development in the cell phone industry has driven numerous telecom enterprises to plan and foster eSIM with cutting edge includes and supplanted conventional SIM card appropriations. The developing pattern in cell phone reception is relied upon to support the eSIM market as cell phone producer are underscoring on offering their items with eSIM.

The global eSIM market was valued at US$ 8.3 Bn in 2019 and is expected to reach US$ 19.3 Bn by 2027 at a CAGR of 15.9% between 2020 and 2027.Cloud-based hacking is one of the major concerns associated with the adoption of eSIMs and therefore poses a significant challenge to the growth of eSIMs. For instance, in the case of internet-connected vehicles, security is a major concern as hackers can track the location or remotely access eSIM systems and disable the vehicle, thereby causing accidents. Moreover, difficulties in operator management are also restraining market growth to a certain extent.

Infineon Technologies AG, STMicroelectronics, Deutsche Telekom AG, Giesecke+Devrient Mobile Security GmbH, Thales Group, KORE Wireless, Arm Limited, Truphone Limited, Workz Group, Sierra Wireless, NXP Semiconductors, AT&T.

The eSIM market research scrutinied key drivers market, anticipated freedom, and significant organization providers. The report information is accumulated from different solid sources and well-qualified feelings. The rising pattern of new innovation pattern market report work on successful business procedure by top cutthroat makers. The total examination report covers an investigation of market key components, eSIM Market industry experiences, development rate, business layout, item characterization, application, most recent pattern, and local outline.

The outbreak of the COVID-19 pandemic since December 2019, had a major effect on the growth of the global eSIM Market market, owing to the unavailability of required manual labor and strict travel rules worldwide, which restricted the movement of raw materials and finished products. Moreover, the sudden closing down of businesses and social distancing laws also affected the work in the manufacturing sector, which in turn affected the global eSIM Market market.