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(Wireless-NewsWire.Com, September 28, 2018 ) According to Verified Market Intelligence, the Global eSIM Market was valued at USD 70.3 Million in 2017 and is projected to reach USD 1.4 Billion by 2025, growing at a CAGR of 29.3% from 2018 to 2025.
eSIM, also known as embedded SIM, is a SIM chip that is standardized to be able to operate with multiple mobile devices, globally. The eSIM enables a device to be able to have multiple devices operating profiles at once, which allows for simultaneous use of the same device, using different profiles. The multiple profiles can be used remotely and can be switched between one another depending on the user. The eSIM also enables users to use the same SIM while switching mobile carriers, thus the Global eSIM Market is eliminating the need for physically replacing the SIM card.
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There are several benefits of adopting the eSIM technology such as the increase in the reliability of this SIM in comparison to the current SIM cards as there is less chance for mechanical failures. The eSIM can be used in several devices, even very small ones and therefore the range of implementation for this SIM is higher. The eSIM also provides the service of remote provisioning, which cuts the downtime of the device significantly and therefore makes the implementation process quicker. These factors are driving the market for eSIM. Factors such as the lack of awareness of this technology, the need for the installation of the software is more time consuming as well as in some cases it causes inconvenience. The eSIM also needs a device that supports the technology, these factors are restraining the growth of the Global eSIM Market.
The “Global eSIM Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Telefónica, NXP Semiconductors, Infineon Technologies, Gemalto, Deutsche Telekom, Sierra Wireless, NTT Docomo, STMicroelectronics, Singtel, Giesecke & Devrient. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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