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Embedded Subscriber Identity Module (E-SIM) Market to Reach $12,673.03 Million, Globally, by 2032 at 14.3% CAGR: Allied Market Research

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The embedded subscriber identity module (E-SIM) market is driven by factors, including a surge in the adoption of IoT technology, an increase in the adoption of connected devices, and the growing adoption of enterprise solutions

PORTLAND, Ore., July 17, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Embedded Subscriber Identity Module (E-SIM) Market, by Application (Connected Cars, Smartphones & Tablets, Wearable Devices, and Others), Industry Vertical (Automotive, Consumer Electronics, Manufacturing, Telecommunication, Transportation & Logistics, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032“. According to the report, the global embedded subscriber identity module (E-SIM) industry generated $3,345.7 million in 2022, and is projected to reach $12,673.03 by 2032, registering a CAGR of 14.3% from 2023 to 2032.

Prime determinants of growth

The embedded subscriber identity module (E-SIM) market analysis is anticipated to expand significantly during the forecast period owing to a surge in adoption of IoT technology and an increase in the adoption of connected devices. Additionally, the market for embedded subscriber identity modules (E-SIMs) is expected to benefit from the adoption of enterprise solutions. However, device compatibility poses a restraint to the growth of the embedded subscriber identity module (E-SIM) market during the forecast period.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2022–2032

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Base Year

2022

Market Size in 2021

$3,345.7 million

Market Size in 2031

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$12,673.03 million

CAGR

14.3 %

No. of Pages in Report

248

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Segments covered

Application, Industry Vertical, and Region.

Drivers

Increase in adoption of IoT technology

Increase in adoption of connected devices

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Opportunities

Enterprise Solutions

Restraints

Device compatibility

Covid-19 Scenario

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  • The pandemic had a mixed impact on the embedded subscriber identity module (E-SIM) market. On one hand, it accelerated the adoption of E-SIM technology due to the increased demand for remote work and connectivity solutions. Organizations had embraced E-SIM for efficient device management and remote provisioning.
  • However, the pandemic disrupted supply chains and manufacturing, leading to delays and shortages of E-SIM-enabled devices. Reduced consumer spending during the pandemic further affected the market.
  • Nonetheless, as economies recover and digital transformation continues, the E-SIM market is expected to regain momentum, driven by the need for seamless connectivity and the growing demand for connected devices.

The connected car segment is anticipated to dominate in terms of revenue during the forecast period- 

Based on application, the connected car segment accounted for over one-third of the total revenue in the global embedded subscriber identity module (E-SIM) market in 2022, and it is expected to continue its dominant position throughout the forecast period. Additionally, this segment is projected to experience the highest CAGR of 15.58% from 2023 to 2032. The primary factors contributing to its dominance and growth are the increasing adoption of connected car technology, the demand for enhanced safety and security features, the growth of vehicle management and telematics services, and regulatory mandates driving the standardization of E-SIMs in the automotive industry.

Want to Access the Statistical Data & Graphs, and Key Players’ Strategies: https://www.alliedmarketresearch.com/embedded-subscriber-identity-module-e-sim-market/purchase-options 

The automotive segment is projected to retain the lion’s share by 2032.

Based on industry vertical, the automotive segment emerged as the market leader in the global embedded subscriber identity module (E-SIM) market in 2022, holding the highest market share of one-fourth of the revenue. The remarkable growth of the automotive segment can be attributed to several factors. These include the increasing integration of connectivity features in vehicles, the growing demand for enhanced safety and security, the focus on vehicle telematics and data analytics, and the influence of regulatory mandates and standardization efforts in the automotive industry. The telecommunication segment is expected to experience the fastest CAGR of 16.27% from 2023 to 2032.

North America to maintain its dominance by 2032.

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Based on region, North America dominated the embedded subscriber identity module (E-SIM) market revenue in 2022, representing approximately one-third of the global market share. This region is expected to witness the fastest CAGR of 15.39% from 2023 to 2032. The primary reasons for this dominance are the strong presence of automotive and IoT industries, early adoption of advanced technologies, a favorable regulatory environment, increasing demand for connected services, technological innovations, and a robust consumer electronics market. 

Leading Market Players: –

  • Vodafone Group Plc,
  • Deutsche Telekom AG,
  • Thales,
  • NXP semiconductors,
  • Giesecke+Devrient Mobile Security GmbH,
  • STMicroelectronics,
  • NTT DOCOMO, Inc.,
  • Infineon Technologies AG,
  • Sierra Wireless,
  • Telenor group

The report provides a detailed analysis of these key players of the global embedded subscriber identity module (E-SIM) market. These players have adopted different strategies such as agreements, mergers, partnerships, product launches, collaborations, and new product development to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.  

Procure Complete Report (248+ Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3DeX4Zx 

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About Us:

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Blockchain Press Releases

Bybit Announces Highly Anticipated Restock of BTC Wealth Management Fund Pool

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DUBAI, UAE, June 21, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, is thrilled to reveal its upcoming restock of the Bitcoin (BTC) Wealth Management Fund Pool, following the immense popularity and success of the initial rounds.

Sold Out in Record Time

During the soft launch on June 3, Bybit allocated a total of 100 BTC to the Wealth Management Fund Pool, which astonishingly sold out within a mere 7 hours.

Catering to High Net Worth Individuals (HNWIs), VIP customers, and asset managers, the first restock of 50 BTC went live on June 5, quickly oversubscribed within a remarkable 5 hours, highlighting the continued demand and enthusiasm from our valued users.

Restock for VIPs and Regular Users

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The second round of restock will be available to both VIP customers and regular users, offering the most compelling rates in the industry.

It is scheduled to take place on June 21, 10 AM UTC. Bybit is excited to offer users another opportunity to participate in this investment opportunity, and understands the importance of catering to a diverse range of investors and are committed to providing equal opportunities for all.

Bybit’s Wealth Management service empowers users to efficiently manage, plan, and invest their digital assets. It offers a range of professional investment strategies and diverse portfolios to help users achieve their investment goals effectively and confidently.

For more information about Bybit Wealth Management, visit this page.

#Bybit / #TheCryptoArk

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About Bybit

Bybit is one of the world’s top three cryptocurrency exchanges by volume with 30 million users. Established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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Blockchain Press Releases

Bybit’s Institutional Investors Triple ETH Exposure Ahead of ETF Launch

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DUBAI, UAE, June 21, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, has released a new study showing institutional investors have increased their ETH holdings ahead of the launch of the spot ETH ETF in the US. Analysts predict this ETF will capture between $8 and $12 billion from US and global markets, driving Ethereum to new all-time highs by year-end.

According to recent data, Bybit’s institutional investors’ exposure to ETH has almost tripled since the ETF announcement on May 24, 2024—moving from 6.54% to a current weighting of 14.29%. This surge underscores the growing confidence in Ethereum’s future performance and the expected positive impact of the ETF launch.

Retail investors on Bybit have also increased their ETH allocations, although not as dramatically as institutional investors. The allocation to ETH has risen from 7.40% to 9.52%, reflecting a cautious but positive response to the ETF announcement.

“Ethereum is the crypto product favored by traditional capital such as BlackRock and Franklin Templeton, both of whom have tokenized funds on the platform,” said Hao Yang, head of financial products at Bybit. “Given this, the chain seems poised to become the institutional pick. With its native yield, the ETH token allows for composability, and we are seeing protocols building interesting derivatives based on ETH’s stable yield, leveraging this to create crypto primitives that mimic those built on top of the US Treasury market. Finally, because a portion of ETH is burned (sent to a wallet from which no withdrawals are possible), the asset can become deflationary, which means the more network effects kick in, the scarcer the asset becomes.”

#Bybit / #TheCryptoArk

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About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 30 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Bybit Logo

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Blockchain Press Releases

Taiwan’s Leading Crypto Market Leader BitoGroup Partners with Digital Bank to Launch World’s First Crypto-Friendly Bank Account

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TAIPEI, June 21, 2024 /PRNewswire/ — BitoGroup, the leading cryptocurrency market leader in Taiwan, today announced its partnership with Far Eastern International Bank Bankee to launch the world’s first dedicated crypto-friendly bank account. As cryptocurrency adoption by international institutions continues to grow, BitoGroup began serving financial institutions two years ago, setting a precedent as the first cryptocurrency exchange to form an alliance with financial institutions. This partnership promotes seamless integration between traditional banks and third-party payment processors. It represents a significant breakthrough for the financial market and has sparked considerable interest within Taiwan’s financial sectors. By collaborating with large institutions, BitoGroup aims to strengthen the cryptocurrency ecosystem and plays a crucial role in driving innovation in financial technology.

The world’s first dedicated bank account for cryptocurrency users is the result of three years of research and effort by BitoGroup and Bankee. This innovative service was achieved by integrating the systems and service processes of the two companies, while ensuring compliance with regulations and supervisory measures, and prioritizing user’s experience.

“Both BitoGroup and Bankee place great emphasis on the security of member assets, platform stability, and user transaction experience,” said Titan Cheng, Founder and CEO of BitoGroup., “Since the initial pilot phase, we have received positive feedback from the community. The Bankee dedicated account can be linked to BitoPro’s exchange account and set up in as little as one hour, significantly enhancing user’s convenience. During the pilot phase, the average daily transaction amount per user increased by 25%. With over one million members in Taiwan, we expect explosive growth once the service is officially launched.

Cheng emphasized that the cryptocurrency community is excited about the collaboration between exchanges and traditional financial institutions. This collaboration will positively improve user confidence in transactions and reverse the negative image of cryptocurrency scams. In the future, BitoGroup will join forces with Bankee to introduce more services, enriching the flexibility of utilizing both fiat and cryptocurrencies.

BitoPro has also partnered with Taiwan’s largest third-party payment processors, Neweb Technologies, to launch “BitoPay”, enabling 300,000 merchants and millions of members to use cryptocurrency for payments, making “BitoPay” the most widely accepted crypto payment solution in Taiwan.

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BitoGroup believes that partnering with large institutions to integrate cryptocurrency use into existing operational systems is not only the best way to promote cryptocurrency usage but also fosters innovation. Initiatives such as exchanging convenience store loyalty points for digital currency, enabling cryptocurrency payments through e-commerce third-party payment services, and the recent launch of crypto-friendly accounts with Bankee, all contribute to expanding the existing ecosystem. BitoGroup’s robust blockchain infrastructure, combined with a focus on optimizing service processes through technology, will create a win-win situation for institutions, exchanges, and users.

Taiwan’s cryptocurrency industry has officially entered a new era of regulation with the establishment of the Virtual Asset Service Provider (VASP) Association. BitoGroup’s founder and CEO, Titan Cheng, has been elected as the first Chairman of the VASP Association. This close cooperation between cryptocurrency and traditional financial institutions will help strengthen the trust of regulatory authorities and financial institutions in the cryptocurrency industry, laying a solid foundation for the crypto-financial system.

About BitoGroup

Founded in 2014, BitoGroup aims to use blockchain technology to achieve the goal of inclusive finance, including assisting companies and consumers to enter the new era of Web3. The businesses of the group include BitoPro (a cryptocurrency exchange), BELS (an NFT empowerment platform), and O2 META (a metaverse-focused social media platform).

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