eSIM Market Scope, In-Depth Analysis, Top Key Players, Reviews And Forecast To-2030

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eSIM
eSIM


eSIM stands for embedded SIM card. To put it another way, an eSIM is a programmable SIM card that is built into a device. A small chip called an eSIM is used to verify a user's identity with his or her carrier. eSIM has a number of advantages, including the ability to support multiple accounts, switch between mobile network operators, and manage accounts by updating software settings from user devices. Smartphones, laptops, tablets, wearables, connected cars, M2M, and many other devices use eSIM. During the forecast period, these factors are expected to drive market growth.

Due to increased demand for consumer electronics such as smartphones, tablets, and other devices, the Global eSIM Market is expected to grow significantly during the forecast period (2020–2027). Smartphone penetration in China increased from 676.5 million in 2017 to 782.3 million in 2020, according to Coherent Market Insights. Furthermore, rising disposable income in developed and emerging economies has resulted in increased smartphone spending. China's rural and urban per capita disposable income increased to $5,658.45 from US$ 2,107.2 in 2018, according to the National Bureau of Statistics (NBS).

Furthermore, the United States' disposable personal income increased to US$ 16,706.40 billion in December 2019 from US$ 16,675.80 billion in November 2019, according to the Bureau of Economic Analysis (BEA). Furthermore, smartphone manufacturers are focusing on developing new advanced technology smartphones, and these new developments are benefiting several telecom industries. As a result of the growth of the eSIM Market, many telecom companies have designed and developed eSIM cards with advanced features to replace traditional SIM cards.

Because smartphone manufacturers are emphasizing offering their products with eSIM, the growing trend in smartphone adoption is expected to boost the eSIM Market. During the forecast period, rising security threats are expected to stifle the growth of the market for eSIM. This is due to advances in technology, the proliferation of M2M services, and the widespread use of IoT devices. As a result, protecting eSIM devices from various cyber threats becomes more difficult. During the forecast period, these factors are expected to stifle market growth.

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