eSIM Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2025-2034)

The global eSIM market size reached around USD 12.78 Billion in 2024. The market is projected to grow at a CAGR of 19.30% between 2025 and 2034 to reach nearly USD 74.63 Billion by 2034.

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Global eSIM Market Growth

During January-July 2024, around 790 million people travelled internationally, which was a year-on-year growth of 11%. This was attributed to the strong traffic recovery towards Asian destinations, fuelled by better visa facilitation services and air connectivity. As per the market analysis, the Middle East and Africa emerged as the fastest-growing regions, where international travel surged by around 26% and 7% (respectively) from 2019 levels. This is expected to facilitate the eSIM market expansion, as international tourists deeply rely on local network careers to prevent the deduction of roaming charges.

In 2023, the number of internet users owning smartwatches recorded a year-on-year growth of 9%, reaching 1.2 billion people. The UAE and the Czech Republic (3.1 million people each) have the highest number of smartwatch owners, which amounts to 33.4% and 31.6% of overall internet users respectively. Hong Kong (2.1 million) and India (201.4 million) rank at the third and fourth position globally, in terms of smartwatch adoption. This is expected to facilitate the eSIM market development, as consumers prefer the freedom to choose the best-suited internet service provider for themselves.

Key Trends and Developments

Rising smartphone penetration rates; increasing adoption of smart wearable devices; growth in cross-border travel; and the switch towards home automation systems are the major factors favouring the eSIM market growth

September 2024

TIM, one of Brazil’s leading mobile network operators, launched a portal which enables customers to obtain an eSIM in exchange for their physical SIM cards without any additional cost.

September 2024

e&, the UAE’s leading telecom company, launched a ‘Free Visitor Line eSIM' for international travellers, which can be activated via a QR code and facial recognition technology. The free eSIM provides free 10GB data for the first day to travellers and is expected to favourably impact the eSIM market dynamics globally.

May 2024

Airalo, a Singaporean eSIM marketplace company, recorded a significant achievement by distributing over 10 million eSIMs to international travellers in over 230 countries in nearly 53 languages.

September 2023

Singtel launched Singapore’s first 100% digital 5G eSIM for tourists that enables them to complete the sign-up process online and activate the SIM via a digital app upon arrival in Singapore.

Rising smartphone penetration rates

As per the Global System for Mobile Communications Association, over 54% of the world's population (4.3 billion people) were smartphone owners in 2023. As mobile manufacturing companies replace physical SIM cards with eSIMs to enhance consumer convenience of switching mobile careers, the eSIM market value is expected to surge steadily in the coming years.

Increasing adoption of smart wearable devices

In 2021, smartwatch adoption in the United States surged year-on-year to 29% of the total number of internet users. Currently, around 25 million households in the USA use smartwatches. This is expected to positively influence the demand for eSIMs over the forecast period.

Growth in cross-border travel

North Africa witnessed 21% growth in international arrivals as compared to 2019, followed by the Caribbean and Southern and Mediterranean Europe (both +9%) and Central America (+19%). This is expected to fuel the eSIM market development over the forecast period.

Switch towards home automation systems

The shift towards home automation systems has accelerated the demand for eSIMs to ensure continuous and reliable connectivity of various devices. Moreover, eSIMs ensure a high level of security to prevent the risk of any external threats to data transmission.

Global eSIM Market Trends

As per the State of Mobile Internet Connectivity Report published by GSMA in 2023, nearly 4 billion people use mobile internet on smartphones, which represents around 49% of the world population. The global expansion of 4G has enabled around 69% of all smartphone owners worldwide to access mobile broadband on a 4G-enabled device. The switch towards eSIMs is expected to provide enhanced flexibility to companies to switch between different providers seamlessly, thereby fuelling the eSIM market value. Moreover, eSIMs enhance the ease of integrating new components into smartphones for mobile companies, since they free up excess space occupied by traditional SIM cards, further driving the market expansion.

Global eSIM Industry Segmentation

The EMR’s report titled “Global eSIM Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Solution:

• Hardware
• Connectivity services

Market Breakup by Application:

• Consumer Electronics
• M2M
• Connected Cars
• Others

Market Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global eSIM Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, Europe is estimated to grow at a CAGR of 19.8% as the travel and tourism industry expands. As per the eSIM market analysis, the growing adoption of smart devices and the switch towards home automation systems is also expected to play a key role in driving the market expansion in upcoming years.

Leading Companies in the Global eSIM Market

Major players are launching digital portals to enable international tourists to obtain eSIMs digitally. This is expected to increase the eSIM market revenue in upcoming years.

Deutsche Telekom AG

Deutsche Telekom AG was founded in January 1995 and is headquartered in Bonn, Germany. It is a telecommunications company which specialises in providing 5G services and IT security solutions.

KORE Wireless Group, Inc.

KORE Wireless Group, Inc. was founded in 2002 and is headquartered in Georgia, United States. It specialises in providing M2M managed connectivity and security solutions.

STMicroelectronics

STMicroelectronics was founded in 1987 and is headquartered in Geneva, Switzerland. It is a semiconductor manufacturing company that serves numerous industries, such as automotive and smart appliances manufacturing.

NXP Semiconductors N.V.

NXP Semiconductors N.V. was founded in 2006 and is headquartered in the Netherlands. It is a semiconductor manufacturing company that serves the power and automotive industry.

Other players included in the eSIM market report are Sierra Wireless Inc., Giesecke+Devrient GmbH, Thales S.A., Infineon Technologies AG, Trasna Solutions Technologies Limited, and Samsung Electronics Co., Ltd., among others.