New York, May 07, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "eSIM Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Application ; Vertical" - https://www.reportlinker.com/p05891656/?utm_source=GNW
Owing to this, several companies constantly engage themselves in developing robust technologies to ease their lifestyle. The US, China, Japan, Germany, India, and the UK are among the leading technologically developed countries and house a significant number of consumer electronics manufacturers and automobile manufacturers. The smartphone manufacturers contribute a significant revenue share in the embedded SIM (eSIM) market.
Based on application, the eSIM market is categorized into connected cars, laptops and tablets
M2M, smartphones, wearables, and others.In 2019, the M2M segment dominated the eSIM market; however, smartphones segment is anticipated to grow at a fastest growth rate.
The demand for eSIMs is constantly rising among the smartphone manufacturers, automobile manufacturers, laptop manufacturers, energy & utility sector players.The OEMs across the globe are robustly focusing on the development and integration of eSIM in various applications.
The growing demand of miniaturization and IoT technology across various industries is also boosting the demand of eSIM globally.
Geographically, the eSIM market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America held the largest share of the global eSIM market, followed by Asia Pacific and Europe, in 2019.The rise in penetration of smart phones and connected cars and autonomous vehicles in North America is paving the way of eSIM adoption. The presence of a large number of telecom companies coupled with higher volumes of smart consumer electronics and automotive manufacturers are boosting the growth of eSIM market in North America. The penetration of smart technologies among the North American mass is considerably high and pertaining to this, the awareness related to the benefits of eSIM is more among the US and Canadian populations.
Deutsche Telekom AG, Gemalto NV, Giesecke + Devrient Mobile Security GmbH, IDEMIA, Infineon Technologies AG, NXP Semiconductors N.V., Sierra Wireless, STMicroelectronics, Telefónica S.A, and Vodafone PLC are among the major players present in the global eSIM market.
Impact of COVID-19 Pandemic on eSIM Market
COVID-19 outbreak, which began in Wuhan (China) in December 2019, has rapidly spread across the globe.It has badly affected China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US in terms confirmed positive cases and reported deaths as of March 2020.
The COVID-19 outbreak has affected economies and industries in various countries as it has resulted in lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the eSIM market due to factory shutdowns, disrupted supply chain, and downturned global economy.
Overall size of the global eSIM market has been derived in accordance to primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the eSIMs.
Read the full report: https://www.reportlinker.com/p05891656/?utm_source=GNW
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eSIM Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Application ; Vertical
The eSIM market was valued at US$ 392. 7 million in 2019 and is projected to reach US$ 2,282. 3 million by 2027; it is expected to grow at a CAGR of 27. 4% from 2020 to 2027. The tech-savvy millennial and mid-aged population across the world demand advanced technologies such as smartphones and smart wearable.
| Source: ReportLinker