eSIM Subscription Market Projected to Reach USD 6,359.64 Million by 2030

The global eSIM embedded SIM subscription market was worth USD 896.42 million in 2023 and is projected to reach a value of USD 6,359.64 million by 2030, growing at a CAGR of 32.3% during the forecast period (2023-2030).

Market Overview

eSIM is a small digital SIM card and with it you can switch, download and remove various operator profiles without needing to use a physical SIM card, as eSIM supports remote provisioning. This offers easy link between multiple devices such as smartphones, wearables, and IOT applications.



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Key Market Drivers

Automotive Theretofore: The automotive sector is beginning to adopt eSIM technology to improve connectivity in vehicles by providing features like advanced navigation, telematics, and emergency services. This enables simplified manufacturing processes and the adoption of connected vehicles.

Growth of the Consumer Electronics Market: Increasing usage of connected consumer electronics, such as smartphones and wearables, is driving the demand of eSIM technology. eSIMs are being added by manufacturers to give users more freedom with how they handle network subscriptions.

Regional Insights

North America: North America emerged as the largest market during the base year 2023 with the market share of 39.20% primarily due to the fast pace of the technological advancement in the region along with the presence of number of network providers.

Asia-Pacific: The Asia-Pacific region is anticipated to register considerable growth, over the forecast period. Major smartphone manufacturers in this part of the world are introducing eSIM-enabled devices; eSIM has thus become the default SIM technology for future connected devices.

Conclusion

Global eSIM subscription market will witness significant growth due to its implementation in the automotive sector, along with the expanding adoption of connected consumer electronics. Those who use the eSIM technology to bring more flexibility to their users' connectivity will prosper in this fast voltage.