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Embedded SIM Market Revenue Continues to Dominate with CAGR of 29.9% Globally To 2027

Embedded SIM Market

iCrowdNewswire   Jan 7, 2021  4:33 PM ET

Embedded SIM Market

The Embedded SIM marketis set to attain a valuation of USD 3019.1 Million by 2027, registering a CAGR of 29.9 %. The applications of embedded SIM are widespread in several industries includingenergy & utilities, retail, automotive, transportation & logistics, manufacturing, and consumer electronics.

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Prominent Players Profiled in the Embedded SIM Market:

KORE Wireless Group Inc., Giesecke+Devrient Mobile Security GmbH, Arm Limited, Gemalto NV, STMicroelectronics, Infineon Technologies AG, NXP Semiconductors N.V., Deutsche Telekom AG, Sierra Wireless Inc., and Vodafone Group Plc among others.

Market Drivers

The major driving force for the development of the Embedded SIM marketisthe increasing adoption of IoT connected devices.The lack of remote provisioning functionality, IoT devices are required to be connected wirelessly, and the restriction of conventional SIM cards on proper functioning, which is anticipated to increase demand for embedded Sim (eSIM) during the projected period.eSIMs allow uninterrupted access to mobile networks and optimize the connection control, including safety-wise which is positively affecting the market.

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Overview of the TOC of the Report:

Regional Analysis

According to the report, the North Americaregion is anticipated to dominate theEmbedded SIM market. This is due to the implementation of smart grids in the region and other smart solutions. Europe is projected to experience considerable growth due to the implementation of eCall regulation in the region and the key leaders in the market presence ha increased the competitiveness.The Asia Pacific is anticipated to experience high gains during the projected year due to the increasing adoption of IoT and the demand for embedded connectivity in cars.

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