The growing adoption of IoT connected devices and rising government initiatives to promote electric vehicles is driving the demand for the market.
According to a recent report by Emergen Research, the global Embedded SIM (eSIM) Market would be worth USD 3019.1 million by 2027. Due to the increasing deployment of IoT connected devices in manufacturing, the embedded sim (eSIM) market is anticipated to increase significantly throughout the projected timeframe. The increasing adoption of smart solutions across the world is anticipated to further fuel market expansion. Additionally, as eSIM offers various sophisticated functionalities in electric vehicles, the expanding government attempts to apply them are anticipated to boost market growth.
In terms of cost savings, user accessibility, connection, and improved safety measures, the development of smart technology has drastically altered the perspective of various end-use industries, including manufacturing, automotive, and construction. Infrastructure, the automobile, electronics & semiconductor, healthcare, and agricultural industries have all been transformed by the IoT and connected ecosystem. One such technology that has helped the linked ecosystem advance is eSIM, which enables more secure machine-to-machine (M2M) communication. Several new technologies, including LTE Cat1, Cat NB, and NB-IoT, among others, are being developed and adopted by various stakeholders to hold a significant part in the IoT arena.
The impact of e-SIM on the mobile-telecommunications market will be driven by new entrants, sales, and service models during the projected period. Operators’ attitudes toward new proposals, shared data-tariff portfolios, potential new revenue streams, and handset-subsidy schemes across many markets will play a crucial part in how much they charge in the new e-SIM environment because revenue is on the line. Whether an operator decides to play the role of an early adopter or a savvy follower, an overall strategy and related activities now require careful shaping.
Driver: Remote SIM provisioning for M2M is emphasised.
Without requiring physical access to the SIM card, remote provisioning allows you to download an operator profile to an in-market SIM and alter or delete the SIM profiles. Machine-to-machine (M2M) connections, which include simple and smooth mobile connections for all types of linked devices, depend heavily on the eSIM card. A requirement for M2M is the pervasive networking of devices across geographical regions. Embedded SIM runs in a controlled and secure environment and eliminates the inconvenience of switching service providers, which increases operational efficiency. The most recent embedded SIM cards provide verified profile compatibility and a main platform for the participants to collaborate on an equal playing field.
Restraint: Increasing the threat to security
With the development of technology, the adoption of IoT devices, and the growth of M2M services, it is crucial to guarantee secure and dependable communication across connected systems. As a result, maintaining the security of these systems has become a challenging undertaking. Because embedded SIM cards support automatic interoperability between connectivity platforms and various SIM operator profiles, they enable remote provisioning of SIM profiles. However, if security is broken, the operational flexibility provided by an integrated SIM would be for nothing.
Possibility: Increasing need for intelligent solutions
Due to the flexibility and connection provided by the IoT infrastructure and the increased drive for smart cities and infrastructure growth in emerging countries, smart solutions, such as electric vehicles, smart cities, and smart metres, are being embraced more widely around the world. A few of the important drivers that will result in the introduction of services like the deployment of smart grids, automatic security systems, connected cars, among many others, include the evolution and expansion of networks, reduced cost of hardware components like sensors and actuators, and the emergence of new business models. This will increase investments in creating innovative smart solutions.
Key participants include KORE Wireless Group Inc., Giesecke+Devrient Mobile Security GmbH, Arm Limited, Gemalto NV, STMicroelectronics, Infineon Technologies AG, NXP
Semiconductors N.V., Deutsche Telekom AG, Sierra Wireless Inc., and Vodafone Group Plc among others.
Emergen Research has segmented the global Embedded SIM (eSIM) Market on the basis of solution, application, end-use, and region:
Solution Outlook (Revenue, USD Million; 2017-2027)
· Hardware
· Connectivity Services
Application Outlook (Revenue, USD Million; 2017-2027)
Smartphones
Laptops
Wearables
Connected Cars
Machine to Machine
Others
End-Use Outlook (Revenue, USD Million; 2017-2027)
Energy & Utilities
Automotive
Retail
Manufacturing
Transportation & Logistics
Consumer Electronics
Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/embedded-sim-market
