 "Value of global eSIM market to surge to $16.3 billion by 2027, shows report")
The eSIM market is to be worth over $4 billion globally in 2023, as Apple innovation disrupts the smartphone sector, a new report showed on Tuesday.
However, the value of the global eSIM market will increase from $4.7 billion in 2023 to $16.3 billion by 2027, according to Juniper Research.
eSIMs are embedded within devices, enabling devices and sensors to seamlessly switch between network operator profiles.
Increasing by an impressive 249 per cent, the report said that the market will be driven by the adoption of eSIM-enabled consumer devices, as seen in Apple's recent release of the eSIM-only iPhone 14.
"Despite operator concerns regarding the disruptive impact of eSIMs on existing business models, growing support from smartphone manufacturers will place additional pressure on operators. In response, service providers must support eSIM connectivity to avoid subscriber attrition as technology awareness increases," said Research author Scarlett Woodford.
Moreover, India and China will represent 25 per cent of smartphones using eSIM connectivity by 2027, according to the report.
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The report also found that the total number of eSIM-connected smartphones in China will increase from 103 million in 2023 to 385 million by 2027.
Furthermore, the total number of smartphones leveraging eSIM connectivity will increase from 986 million in 2023 to 3.5 billion by 2027, with manufacturers such as Google and Samsung developing an equivalent eSIM-only Android device in order to compete with Apple and maintain their global market positioning, the report mentioned.
--IANS
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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)