The global eSIM Market is estimated to be valued at US$ 14717.07 Mn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
An eSIM is an embedded SIM that allows users to activate a cellular data plan from a carrier remotely, without having to use a physical SIM card. eSIMs are embedded directly into devices such as smartphones, smartwatches, laptops, and other consumer electronics. They offer advantages such as easy portability of numbers across devices, remote provisioning of cellular services, and better integration with IoT devices.
Market key trends:
One of the major trends in the esim Market Size is the growing adoption of eSIM technology in IoT devices and machine-to-machine communication applications. Various IoT solutions providers are integrating eSIM technology to remotely manage connectivity of their devices. eSIM allows hassle-free deployment of connected devices at large scale as they eliminate the requirement to physically install SIM cards. Furthermore, eSIM technology improves security for IoT devices as the SIM credentials can be updated remotely. This is driving various companies to develop eSIM compatible IoT modules and gateways to support eSIM connectivity for large scale IoT deployments.
Segment Analysis
The global eSIM market is segmented into connectivity services and hardware. The connectivity services segment dominated the market in 2022 and is expected to maintain its dominance over the forecast period. This is because connectivity services enable cellular connectivity to devices through eSIM technology without inserting a physical SIM card. Connectivity services make eSIM technology more accessible as they facilitate the remote provisioning of cellular plans and telecom services into eSIM-enabled devices.
Key Takeaways
The global eSIM market is expected to witness high growth, exhibiting a CAGR of 16.% over the forecast period, due to increasing adoption of IoT devices and smartphones that support eSIM technology.
Regional analysis: North America dominated the global eSIM market in 2022 and is expected to continue its dominance over the forecast period. This is attributed to the high penetration of eSIM-enabled smartphones and tablets in countries like the US and Canada. Asia Pacific is expected to be the fastest-growing region owing to the rising adoption of IoT and 5G technologies in countries such as China and India.
Key players: Key players operating in the eSIM market include Infineon Technologies AG, STMicroelectronics, Deutsche Telekom AG, Giesecke+Devrient Mobile Security GmbH, Thales Group, KORE Wireless, Arm Limited, Truphone Limited, Workz Group, Sierra Wireless, NXP Semiconductors, and AT&T. Infineon Technologies holds a significant share of the market owing to its pioneering work in developing eSIM hardware and technology.
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The hazardous nature of traditional plastics is pushing governments all over the world to introduce stringent regulations to curb carbon emissions and the usage of harmful plastic products.
This is also estimated to provide momentum to the upscaling of the Global Bio-Based PET Market.Bio-Based Polyethylene Terephthalate (PET) is produced from ethylene glycol that is obtained from plants.
These plant sources include non-toxicity, recyclability, reduced carbon footprint, and a high resistance to shattering.
For instance, the Plant PET Technology Collaborative (PTC) by Virent, Inc uses paraxylene using beet sugar instead of fossil fuels.
These technological developments are anticipated to promote higher adoption of Bio-Based PET products, fueling growth in the market.Get Free Sample @ https://www.marketresearchfuture.com/sample_request/5823Industry Update:September 2018: PepsiCo formed a partnership with NaturALL Bottle Alliance to develop packaging made from 100% sustainable and renewable sources.
Following this, the Alliance aims to make 95% Bio-Based PET bottles.Key Players:Some of the prominent market vendors present in the Global Bio-Based PET Market include Braskem (Brazil), Gevo, Inc. (U.S.), TEIJIN LIMITED (Japan), Anellotech, Inc. (U.S.), TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company Limited (Thailand), M Chemicals (Italy), NatureWorks LLC (U.S.), Novamont S.p.A (Italy), Plastipak Holdings, Inc. (U.S.), Amyris (U.S.), and Toyota Tsusho Corporation (Japan).Market Segmentation:The report on Bio-Based Pet Market by Market Research Future (MRFR) includes a detailed analysis of various types of Raw Materials Used, Applications of Bio-Based PET, as well as specific regional analysis.
After losing all the impression of their achievements, great companies often fade away.
When the whole world was shifting towardsdigital photography in late 80s, Kodak refused to join the bandwagon, and continued with their existing products even after inventing the digital camera technology.
However, after 2010, Nokia's market value declined by about 90 percent and in 2011 Nokia was acquired by Microsoft.
why Nokia, which was considered as the undisputed king of mobile devices was thrown out of the market?The main reason is the introduction of iPhone in 2007.
At the time of iPhone's launch, half of all the devices sold in the planet were Nokia's.
Nokia's management thought they will continue to rule the market with dated Symbian OS and average phones.They never thought Apple would come-up with a superior hardware and software and the executives were afraid to acknowledge the fact even after knowing that it would take several years to develop a better OS that could compete with iOS.
From the automated industry to regular households, the use of Artificial intelligence has become very wide and crucial.
And as it is becoming a piece of our day to day life, it is main to know about artificial intelligence in detail, so here we jot down each about AI, check it out What is Artificial Intelligence?It is some technology or technological tools or analytical tools or algorithms that handle to give us the facility to alter the actual environment based on its calculated conclusion or data it collects from various source.In easy words, Al is a technology to do the tasks or make simpler any work that human beings are doing on their own formerly, or in earlier times, they did it in a difficult manner.
So, any device which simplify your day-to-day work is an AI machine.Machine Learning is free of human intervention in AI processes.
An excellent example of deep learning is a computer; you can notice how it simplifies the work of a human being by use the analytical formula stored in the base of data.
How are AI changes changing the world?AI completes a revolution in industries, the business world, and even each aspect of the daily use of small technology.
It make each day’s work faster, more capable, and smarter by using its technology and creation.Virtual assistance acts as your individual assistant, related to human assistance, which collect your data and does your work when you command it.The ready-in-hand example of virtual assist is Alexa and Google Assistant.
