PORTLAND, OR, UNITED STATES, September 26, 2023 /EINPresswire.com/ — Allied Market Research published a report on eSIM Market by Application, Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2023-2032. The eSIM market size was valued at $3.4 billion in 2022, and is estimated to reach $12.7 billion by 2032, growing at a CAGR of 14.3% from 2023 to 2032.
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The E-SIM market in the automotive industry is poised for high growth. The automotive sector is experiencing significant expansion, especially in developing regions such as China and India, driven by population growth and increased vehicle demand. Companies in this industry adopt innovative techniques such as mergers and acquisitions to strengthen their position in the competitive landscape.
The global embedded SIM industry is primarily driven by the widespread adoption of IoT technology and favorable government regulations that boost machine-to-machine communication. Automotive industry verticals have actively developed improved concepts and innovative product designs to meet customer demands and enhance E-SIM efficiency, thereby leaving a lasting impact on the market.
North America currently leads in E-SIM adoption and has witnessed substantial market expansion. However, the Asia-Pacific region is expected to grow at a faster pace, fueled by the rise in demand for smartphones and consumer electronics, particularly in countries such as China and India.
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Competitive Analysis:
The company profile section of the Embedded Subscriber Identity Module (e-SIM) Market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.
Some of the major key players of the global Embedded Subscriber Identity Module (e-SIM) Market include,
• STMicroelectronics
• Infineon Technologies
• Thales
• Sierra Wireless
• Deutsche Telekom AG
• Giesecke+Devrient Mobile Security GmbH
• Telenor group,
• Vodafone Group
• NTT DOCOMO, Inc
• NXP semiconductors
Enhanced security is a significant driver behind the growth of the embedded subscriber identity module (E-SIM) market share. One of the key security features of E-SIM technology is the incorporation of tamper-resistant hardware and encryption mechanisms. These security measures make it extremely difficult for unauthorized access or tampering with the E-SIM.
Industries that handle sensitive information, such as healthcare, finance, and government, have increasingly adopted E-SIM technology to ensure secure connectivity. Thus, driving the Embedded Subscriber Identity Module (e-SIM) Market Growth For example, in healthcare, E-SIMs may be used in connected medical devices or telehealth solutions to securely transmit patient data and maintain privacy.
Key Findings of the Study
• In 2022, by application, connected car segment was the highest revenue contributor to the market, with $1,196.9 million in 2022, and is estimated to reach $5,054.47 million by 2032, with a CAGR of 15.58%.
• By industry vertical, the automotive segment was the highest revenue contributor to the market, with $839.59 million in 2022, and is estimated to reach $3,453.94 million by 2032, with a CAGR of 15.28%.
• By region, North America was the highest revenue contributor, accounting for $1,084.01 million in 2022, and is estimated to reach $4,501.46 million by 2032, with a CAGR of 15.39%.
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