The evolution of smart technology has considerably changed the outlook in various end-use industries (such as automotive, manufacturing, and construction) in terms of connectivity, money saving, enhanced safety measures, and convenience of the users. The Internet of things (IoT) and the acceptance of connected ecosystem have revolutionized industries such as automotive, infrastructure, agriculture, healthcare, and electronics & semiconductor industries.
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To hold a significant share in the IoT space, various new technologies (such as NB-IoT, LTE Cat1, and Cat NB among others) are invented and are being adopted by different stakeholders. Also, 5G has emerged as another innovative technology in the IoT space. 5G is expected to enable much faster data transmission capability and help in faster deployment of autonomous vehicles in the near future. The advent of 5G will further enable faster data communication with lower latency, and thus will benefit the eSIM market. This is because, faster communication will enable the eSIM to send and receive data at lower latency and provide better navigation, and more connected devices in smart homes.
The global eSIM market is expected to witness a robust growth during the forecast period 2018-2028, due to a wide-scale adoption in automotive telematics for bridging the connection between car and the server. Also, during the forecast period, the use of eSIMs is expected to spread in a range of applications, such as in healthcare, transportation, and residential, among others. The increasing global vehicle production, increasing trend of smart homes, and a growing consumer inclination towards a more connected ecosystem, are some of the key drivers for the growth of the global eSIM market.
According to BIS Research analysis, the global eSIM market generated $214.7 million in 2018 and is estimated to grow at a CAGR of 40.70% during the forecast period 2018-2028. Europe dominated the global eSIM market in 2017, followed by North America. However, Asia-Pacific is expected to have the highest growth rate during the forecast period 2018-2028.
Following points provide a detailed description of the report content and the topics covered in the report:
- What are the trends in the global eSIM market across different regions?
- What are the major driving forces that tend to increase the demand for the global eSIM market during the forecast period 2018-2028?
- What are the major market drivers, restraints, and opportunities in the global eSIM market?
- What is the revenue generated by the global eSIM market by device, and end-use industry in 2017, and what will be the estimate by 2028?
- Who are the key players in the global eSIM market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- What are the major opportunities for the small caliber companies in the next five years?
- What is the competitive strength of the key leading players in the global eSIM market?