eSIM Market Size, Share, Growth Analysis, By Solution(Hardware and Connectivity Services), By Application(Consumer Electronics (Smartphones, Tablets, Smartwatches, Laptops), By Vertical(Automotive, Energy & Utilities, Manufacturing, Retail), By Region - Industry Forecast 2024-2031

eSIM Market Drivers

Increasing popularity and usage of M2M applications is boosting the eSIM market

• The eSIM card is a type of key facilitator for M2M devices that include seamless connections for all the types of linked devices.
   
• Embedded SIM is capable of hassles free switching network carriers, increased relativity, and runs in a controlled and safe and secure environment. There is no risk of losing data while switching from one device to another. All these factors are likely to help in the growth of global eSIM market in the upcoming years.
   
• Asia Pacific and Europe are expected to play an important role in the growth of global market through their wide range of adoption across countries. For instance, in China, one third of all smartphone users now use eSIMs.

eSIM Market Restraints

Critical methods of security can slow down and hinder the market growth

• Due to rapid increase in technology, increase in device penetration and M2M devices, it becomes so critical to maintain safe and secure communication among linked devices.
• Ensuring the integrity of these devices has requires quite an effort. eSIM captures and maintains mobile network operator credentials in the device’s in-built software, which is vulnerable to different security breaches.