Embedded Subscriber Identity Module Market to Reach $6.88 Bn, Globally, at 30.7% CAGR, by 2025, Says Allied Market Research
PORTLAND, Oregon, November 7, 2018 /PRNewswire/ --
Extensive adoption of IoT, cloud computing, and connected devices; favorable government regulations boosting machine-to-machine communications; technological advancements among the various industry sectors drive the growth of the embedded subscriber identity module market
Allied Market Research published a report, titled, Embedded Subscriber Identity Module (e-SIM) Market [https://www.alliedmarketresearch.com/embedded-subscriber-identity-module-e-sim-market ] by Application (Connected Cars, Smartphone & Tablets, Wearable Devices, and Others), and Industry Vertical (Automotive, Consumer Electronics, Manufacturing, Telecommunication, Transportation & Logistics and Others): Global Opportunity Analysis and Industry Forecast, 2017-2025. The report offers in-depth analyses of the global embedded subscriber identity module market by closely monitoring the market trends, drivers & opportunities, top investment pockets, key growth strategies, and competitive landscape. According to the report, the global embedded subscriber identity module market was pegged at $1.05 billion in 2017 and is expected to reach $6.88 billion by 2025, registering a CAGR of 30.7% from 2018 to 2025.
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Extensive adoption of IoT, cloud computing, and connected devices drives the growth of the market. Moreover, favorable government regulations boosting machine-to-machine communications, technological advancements among the various industry sectors, rapid increase in sales of premium cars, and increase in purchasing power of consumers supplement the market growth. However, dependence of embedded SIM depends on the supporting network is a major hindrance factor for the market because if any network is out of service, then the device with an e-SIM becomes inoperable. Moreover, rising privacy and security concerns prevailing in various industries pose significant threats to the market growth. Conversely, increase in mobile computing devices, growth in demand for smart solutions, and rise in adoption of wearable electronics would offer lucrative opportunities for the e-SIM market.
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Connected cars segment would dominate the market through 2025
The connected cars segment accounted for the largest market share in 2017 and is expected to maintain its dominance during the forecast period. Embedded M2M SIMs identify individual vehicles, encrypt communications, and ensure secure global connectivity for smart vehicle systems. Moreover, users can enjoy both embedded voice and data services simultaneously. A passenger can search online for the best nearby restaurants while another passenger calls for a reservation. Such factors create lucrative opportunities for embedded SIMs in the connected car segment. However, the others segment, which comprises smart girds and smart meters, would witness the fastest growth of 29.8% by 2025. Integration of e-SIM in various applications such as smart meters, drones, and smart grids offers remote monitoring, improved forecasting, and smooth power consumption. The report also discusses applications such as smartphone & tablets and wearable devices.
Automotive segment would remain dominant, Others to exhibit the fastest growth
In 2017, the automotive segment contributed 28% of the total market revenue. An e-SIM provides a better approach in a connected car than a conventional removable plastic SIM. It is smaller, more robust, and can be remotely programmable. E-SIM is already used in advanced vehicles in developed countries. However, the others segment, which includes industries such as healthcare and retail, is expected to grow at the fastest CAGR of 33.3% from 2018 to 2025. The demand for e-SIM in healthcare is driven by the increased utilization of medical devices embedded with SIM-Com and excellent M2M wireless modules, which help in precaution, diagnosis, treatment, and monitoring. The report also discusses industries such as consumer electronics, manufacturing, telecommunication, transportation, and logistics.
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Asia-Pacific top grow the fastest, North America to remain dominant
Asia-Pacific is expected to grow at the fastest CAGR of 32.1% through 2025 because the embedded SIM industry in the region is largely controlled by government policies that encourage sustainable manufacturing and investments in the sector. In addition, increased adoption of smart technologies in the Asia-Pacific region creates lucrative opportunities for the growth of the market. However, North America would remain dominant throughout the study period owing to the extensive adoption of IoT and cloud computing in the region. Intelligent devices, such as autonomous car and connected automobiles and devices have greater penetration in this region, owing to increase in adoption of e-SIM in the region, which is expected to propel the market growth. The other regions analyzed in the study include Europe and Latin America, Middle East and Africa (LAMEA).
Players active in the industry
The key market players analyzed in the report include Deutsche Telekom AG, Gemalto NV, Infineon Technologies AG, NXP Semiconductors N.V., Sierra Wireless, STMicroelectronics, Vodafone, Giesecke & Devrient, Idemia, and NTT DOCOMO. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to expand their market presence.
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