e-SIM Market Research Report – Global Forecast till 2024. Global e-SIM Market Research Report: by End User (Automotive, Energy & Utilities, Manufacturing, Retail, Consumer Electronics, Transportation & Logistics), by Region – Forecast till 2024
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Market Analysis
The standard that aims to overcome the limitations of traditional SIM cards is an Emerging Subscriber Identification Module (SIM) or e-SIM . It is dependent on obtain over-the-air remote SIM provisioning which allocates the subscriber to wirelessly connect with a network supplier without the need of a traditional SIM card.
The market is being pushed towards growth by the developing IoT and related technologies. IoT devices need to communicate wirelessly and the specifications of traditional SIM cards limit seamless operation due to shortage of remote provisioning capabilities. e-SIM is also the only globally established standard for M2M (machine-to-machine) communication. consumer electronics is the largest segment using e-SIM technology due to its rising combination in mobile phones, tablets, laptops, and smart wearables. Devices that can be linked via e-SIMs include cars, trucks, industrial machines, robots, and smart wearables. All parties in the M2M ecosystem will struggle if they continue exclusively reliant upon the traditional SIM card, which is linked with only one network operator at a time and requiring a quick way for remote provisioning with various operators.
Market Segmentation
The Global e-SIM Market has been segmented on the basis of end user and region. By end user the market has been segmented into Automotive, Energy & Utilities, Manufacturing, Retail, Consumer Electronics, and Transportation & Logistics. The consumer electronics segment responsible for the major market share in the year 2018, and the manufacturing segment is expected to register the highest CAGR of 29.0% during the forecast period. On the basis of region, the global e-SIM market has been segmented into different regions like Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
Regional Analysis
Geographically, the global e-SIM market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America dominated the region in terms of market share in the e-SIM market. The market growth is ascribed to the existence of many e-SIM network service providers that recommend network assistance to e-SIM devices. The primary players in the region include Deutsche Telekom AG, AT&T, Verizon Wireless and Virgin Mobile, that operate across the region. The second-largest market in the e-SIM market in the year 2018 was Europe.
Europe includes different regions like UK, Germany, Spain, and the rest of Europe. As per the MRFR analysis the highest market share followed by the UK, Spain, and the rest of Europe is expected be gained by Germany. Some of the factors accountable for the market growth include the presence of many platform vendors who provide the underlying hardware for e-SIM integration.The prominent players in the region include STMicroelectronics (Switzerland), NXP Semiconductors. (Netherlands), Infineon Technologies AG (Germany), and Gemalto NV. (Netherlands) which operate around the region.
Major Players
Infineon Technologies AG (Germany), (Netherlands), Giesecke+Devrient GmbH (Germany), NTT Docomo, Inc. (Japan), Sierra Wireless., (Canada), Telefonica S.A. (Spain), STMicroelectronics (Switzerland), Deutsche Telekom AG (Germany), Gemalto NV.(Netherlands), NXP Semiconductors and Singtel (Singapore) are some of the major players of the global e-SIM market.
Market Dynamics:
Drivers:
- Increasing emphasis on self-care and wellness, particularly among women.a
- Growing awareness of the health and beauty benefits offered by dietary supplements.
- Rising disposable incomes and willingness to invest in premium health and beauty products.
- Influence of social media and beauty influencers shaping consumer preferences.
- Changing lifestyles and health concerns driving the demand for supplementary nutrition.
Restraints:
- Lack of regulatory oversight and quality control in the supplements industry.
- Consumer skepticism and confusion regarding product claims and effectiveness.
- Potential risks and interactions with other medications or health conditions.
- Limited accessibility and affordability of supplements in certain regions.
Opportunities:
- Increasing demand for natural and organic supplements.
- Untapped market potential in the Asia-Pacific region.
- Development of innovative formulations and delivery methods.
- Collaborations with beauty brands or influencers for product endorsements.
- Integration of technology to personalize nutrition and enhance consumer experience.
Challenges:
- Intense competition among market players.
- Navigating regulatory complexities and meeting regional standards.
- Building trust and credibility with consumers.
- Educating consumers about the benefits and proper usage of supplements.
- Addressing concerns and skepticism regarding the safety and efficacy of supplements.
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