eSIM Market Size Worth $24.96 Billion By 2027

eSIM Market Size, Share & Trends | Industry Report, 2020-2027

By Grand View Research

The global eSIM market size was valued at USD 8.03 billion in 2019 and is expected to expand at a Compound Annual Growth Rate (CAGR) of 15.8% from 2020 to 2027. … Moreover, eSIM technology has led to advancements in the connected ecosystem by enabling secure Machine-to-Machine (M2M) communication.

Report Overview

The global eSIM market size was valued at USD 8.03 billion in 2019 and is expected to expand at a Compound Annual Growth Rate (CAGR) of 15.8% from 2020 to 2027. The rapid increase in the number of IoT connected devices in different end-use verticals such as automotive, consumer electronics, and energy and utilities, is propelling the market growth. Moreover, eSIM technology has led to advancements in the connected ecosystem by enabling secure Machine-to-Machine (M2M) communication. Thus, eSIM offers secure, reliable, and cost-efficient cellular connectivity for IoT/ M2M applications owing to which there has been increased adoption of the wireless cellular-based solution such as eSIMs among different end-use verticals.

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