Asia Pacific esim Market to Grow at Double-Digit CAGR till 2024
Growing traction of machine to
machine and Internet of Things communication to drive esim market in Asia
Pacific through 2024
According
to TechSci Research report, “Asia Pacific esim Market By Form Factor, By
Application, By Country, Competition, Forecast & Opportunities, 2024”, Asia
Pacific esim market is expected to grow at a double-digit CAGR during
2019-2024, on account of emerging technologies such as Internet of Things. Esim
is an electronic sim card that can change the operator based on the needs, so
as to offer improved user experience. Growing awareness pertaining to wearable
devices and surge in mobile computing are pushing the market. However, lack of
regulations and concerns related to the security may impede market growth during
forecast period.
Esim market can be segmented based on form factor and
application. On the basis of application, the market can be segmented into
connected cars, wearables, smartphones & tablets, laptops and M2M. Owing to
the presence of favorable regulatory framework and increasing adoption of Internet
of Things in various verticals including consumer electronics, retail,
automotive, transportation and logistics, among others, machine to machine or M2M
segment dominated the market in 2018 and the trend is likely to continue in
coming years as well.
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Major players operating in Asia Pacific esim market are NTT Docomo Inc, NXP
Semiconductors N.V., Apple Inc., Deutsche Telekom AG, Sierra Wireless, Inc., STMicroelectronics
N.V., Vodafone PLC, Samsung Electronics and Infineon Technologies AG. Companies operating in the market are adopting organic and inorganic
strategies such as product launch, investments & expansions and agreements
& contracts to ensure growth in the market. Apple has started implementing
esim in Apple watch series 3 and 4 and launched iPhone XS and XS Max with esim.
“Growth in esim market in Asia Pacific is expected
to be driven by various factors such as ease to switch between network
providers in real time, activation of cellular plans without using physical sim
and facility to save more than one operator profile on a device. Moreover,
presence of favorable government regulations for telecommunication is expected
to bolster the market over the course of next five years.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Asia Pacific esim Market By Form Factor, By
Application, By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Asia
Pacific esim market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Asia Pacific esim market.
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