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eSIM Market for Smartphone Application to Peak between 2018-2023
October 1, 2018 | MarketsandMarketsEstimated reading time: 2 minutes
The eSIM market is anticipated to be valued at $978.3 million by 2023, growing at a CAGR of 31.0% between 2018 and 2023. The growth can be attributed to the favorable government regulations boosting M2M communication, high adoption of IoT technology, and emphasis on remote SIM provisioning for M2M.
An embedded SIM, abbreviated as eSIM, is a contemporary secure element designed to remotely manage multiple mobile network operators (MNOs) by staying in compliance with GSMA specifications. ESIMs can be easily integrated into any mobile device and saves a lot of time if mobile users need to switch mobile network providers or data plans, without physically changing their SIM card. The evolution of eSIM is revolutionizing growth opportunities for connected devices due its persistent and secure connectivity and flexibility.
Deutsche Telekom AG (Germany), Gemalto NV (Netherlands), Giesecke & Devrient GmbH (Germany), Infineon Technologies AG (Germany), NTT DOCOMO, INC. (Japan), NXP Semiconductors N.V. (Netherlands), Sierra Wireless, Inc. (Canada), Singapore Telecommunications Limited (Singapore), STMicroelectronics (Switzerland), and Telefónica S.A. (Spain) are the key players in the eSIM market. Acquisitions, collaborations, joint ventures, partnerships, and product launches and developments are some of the key strategies adopted by the major players to gain a competitive edge in the eSIM market.
Gemalto is a front-runner in the M2M connections market. It is the first eSIM supplier to receive the GSMA Security Accreditation Scheme certification. This certification is of utmost importance for eSIM suppliers to protect sensitive data in IoT and M2M applications. Gemalto has a vast geographic presence in Europe, the Middle East, Africa, the US, and Asia Pacific (APAC). The company undertook inorganic growth strategies such as accreditations, collaborations, and partnerships to stay competitive in the e-SIM market. For instance, in December 2017, Gemalto entered into a partnership agreement with Microsoft to make Microsoft’s Surface Pro with LTE Advanced to become the first fully integrated embedded SIM PC in the Windows ecosystem.
STMicroelectronics is one of the prominent players in the semiconductor industry. The company has a wide product portfolio, including secure wearables, authentication and secure IoT solutions, M2M and automotive solutions, secure NFC tags and controllers, SIM and eSIM cards, and payment technology and secure solutions dedicated to the banking and identification markets. The company offers products for a wide range of applications, such as smartphones, wearables, V2X systems, smart identity cards, and payment cards. The company’s eSIM solutions are based on the widely deployed ST33 Secure Element platform, providing a high level of security, a large amount of memory, high performance for OTA data transfers, and secure storage of new MNO subscriptions.
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