The Incredible Growth of E-SIM Card Industry 2020

 The term "eSIM" simply means an embedded SIM card. There are no physical SIM cards involved and no physical swapping over required by consumers.

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Embedded Subscriber Identity Module (eSIM), also referred to as Embedded Universal Integrated Circuit Card (eUICC), is a reprogrammable chip that comes in either soldered or removable form. It is a small chip used to authenticate the user’s identity with his or her carrier. eSIM is smart in terms of its functionality as it supports multiple accounts, allows switching to various mobile network operators (MNOs), and manages accounts just by updating the software settings from the user’s mobile phone.

The overall eSIM market was valued at USD 253.8 Million in 2017 and is estimated to reach USD 978.3 Million by 2023, at a CAGR of 31.0% between 2018 and 2023. In terms of volume, the overall eSIM market registered a shipment of 287.7 million units in 2016 and is likely to witness a shipment of 1,168.8 million units by 2023, at a CAGR of 32.4% between 2018 and 2023. The growth is attributed to the emphasis on remote SIM provisioning for mobile to mobile (M2M), favorable government regulations boosting M2M communication, and high adoption of IoT technology.