eSIM also maintains accounts by updating the software settings from user devices, and it supports multiple accounts and allows switching between mobile network operators. eSIM is used by a wide range of devices, including mobile phones, computers, tablets, wearable electronics, linked cars, M2M, and many more. These factors are projected to stimulate market expansion during the anticipated timeframe. Due to rising demand from consumer electronics like smartphones, tablets, and other devices, the worldwide eSIM market is anticipated to have considerable growth during the projected period (2017–2030). The popularity of smartphones has prompted various telecom sectors to build and create eSIM, which replaces traditional SIM cards and includes enhanced functions. As smartphone manufacturers emphasise offering their products with eSIM, the rising trend in smartphone use is anticipated to enhance the eSIM industry. Coherent Market Insights estimates that by 2020, there will be 782.3 million smartphone users in China, up from 676.5 million in 2017. Additionally, as disposable income has grown in both rich and developing economies, so has the price of smartphones.
According to Coherent Market Insights, The market for eSIMs was estimated to be worth US$ 10843.5 million in 2021, and it is anticipated to expand to US$ 42158.6 million by 2030, at a CAGR of 16.5%.
Major Players in the eSIM Industry:
1. Infineon Technologies AG
The company was started in 1999 and is based in Neubiberg, Germany. The business creates, develops, and produces semiconductors as well as related system solutions.By 2023, Infineon intended to invest €5 billion in the construction of two more factories in Dresden. As part of the €42 billion European Chips Act, the company requested a 1 billion government subsidy. 3000 people would be employed by it.
2. STMicroelectronics
The firm was started in 1987 and is located in Geneva, Switzerland. The business works in the electronics sector and offers manufacturing services for electronic goods such semiconductors, multimedia products, power applications, and sensors. STMicroelectronics runs businesses and delivers goods globally. STMicroelectronics launched the initial waterproof MEMS pressure detector with a 10-year lifespan for the Industrial IoT expansion in May 2023.
3. Deutsche Telekom AG
The company was founded in 1995 and has its main office in Bonn, Germany. The business offers integrated services for information technology and telecommunications. In an effort to close the digital gap, Deutsche Telekom joined the HAPS Alliance in February 2020. The alliance promotes the use of high-altitude aircraft in the Earth's stratosphere.
4. Giesecke+Devrient Mobile Security GmbH
The company was started in 1852 and is based in Munich, Germany. The business is a technological business. The business creates, manufactures, and distributes products for identity management, secure communication, and payment solutions. The British company Pod Group, which specialised in scalable network internet of things (IoT) connectivity solutions, was acquired by G+D in 2021. G+D purchased a share in Swiss software business Netcetera in 2020.
5. Thales Group
The company was started in 2000 and is located in Paris, France. The business creates, develops, and produces electrical components as well as tools and gadgets for the transportation, security, aerospace, and military industries. In addition to offering flight deck systems, avionics gear, and navigational aids, the company also supplies telecommunications satellites, signalling systems, air traffic management, and maintenance services.
6. KORE Wireless
The company was started in 2003 and is based in Atlanta, Georgia, United States. IoT services and solutions with a mission-critical focus are provided by KORE Wireless, a dependable advisor. A firm merger deal between KORE and Cerberus Telecom Acquisition Corp. was announced in March 2021. Business Mobility Partners and SIMON IoT were purchased by KORE in February 2022.
7. Truphone Limited
The company was started in 2001 and is based in London, United Kingdom. Telecommunication services are offered by Truphone, Inc. The business provides various telecommunication services, including wireless networking, mobile recording, and application development. It has created cutting-edge SIM software and user-friendly management tools.
*Definition: Embedded SIM card is referred to as eSIM. In other words, an embedded SIM card (or "eSIM") is a type of programmable SIM card that is integrated into a device. The eSIM is a tiny chip that is used to verify a user's identity with their carrier.
