The global eSIM market was valued at USD 253.8 million in 2017 and is expected to reach USD 978.3 million by 2023

The Embedded Subscriber Identity Module (eSIM), also known as the Embedded Universal Integrated Circuit Card (eUICC), is a reprogrammable chip that can be soldered or removed. It is a small chip that is used to verify the user's identity with his or her carrier. In terms of functionality, eSIM is smart because it supports multiple accounts, allows switching to different mobile network operators (MNOs), and manages accounts simply by updating the software settings from the user's mobile phone.


The global eSIM market was valued at USD 253.8 million in 2017 and is expected to reach USD 978.3 million by 2023, growing at a 31.0 percent CAGR between 2018 and 2023. In terms of volume, the overall eSIM market shipped 287.7 million units in 2016 and is expected to ship 1,168.8 million units by 2023, with a CAGR of 32.4 percent between 2018 and 2023. The emphasis on remote SIM provisioning for mobile-to-mobile (M2M) communication, favourable government regulations promoting M2M communication, and widespread adoption of IoT technology are all contributing to the growth.

Machine-to-Machine (M2M) application to witness the highest CAGR in the eSIM market during the forecast period

The overall eSIM market has been divided into connected cars, laptops, M2M, smartphones, tablets, wearables, and others. The M2M application is expected to account for the majority of the market during the forecast period due to the numerous benefits provided by the implementation of eSIM in M2M devices, such as simpler device setup without the need to insert or replace a SIM card, improved reliability and security, sleek design, and no connector requirement. Furthermore, eSIM enables effective management and seamless connectivity of M2M devices that are often hermetically sealed and located remotely.

 Consumer electronics vertical to dominate eSIM market during the forecast period

Vertically, the eSIM market is divided into automotive, energy and utilities, manufacturing, retail, consumer electronics, and transportation and logistics. The consumer electronics industry continues to be a significant force shaping disruption, innovation, and growth in a variety of technology industries. eSIM is expected to revolutionise consumer electronics applications. Enhanced connectivity, high reliability, and improved safety are just a few of the benefits of using eSIMs in consumer electronic applications.

APAC to hold the largest share of the eSIM market during the forecast period

Between 2018 and 2023, the APAC eSIM market is expected to grow at the fastest rate. The smartphone adoption rate in this region is steadily increasing, and it is clear that three of the top five countries in terms of smartphone adoption are APAC countries such as Australia, Singapore, and South Korea. In 2016, India surpassed the United States to become the second-largest smartphone market after China. In the last five years, APAC's mobile internet penetration has more than doubled. As a result, mobile network operators have begun to invest heavily in order to provide internet services at a competitive price, which is expected to drive demand for eSIM solutions in the APAC market.

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