TechInsights: The global eSIM market for IoT applications is expected to reach 4.712 billion by 2030

According to a report by TechInsights Research, the eSIM or eUICC is considered to be the next iteration of the SIM card, providing the ability to change service provider profiles via OTA without physically replacing the SIM card itself .

eSIMs are specifically designed to address the limitations of physical SIM cards. They include the new features needed to support connected devices where physical SIMs are difficult or inefficient to access, such as healthcare devices, connected vehicles or a range of other IoT devices.

In addition, another IoT-specific SIM technology, iSIM (IT Home Note: Integrated SIM), is emerging, which combines eSIM functionality into a single dedicated SoC. While eSIM is a dedicated chip soldered on the board and connected to the device processor, iSIM integrates the processor core and encryption into the SoC .

According to TechInsights' latest forecast for eSIM market stock, the global eSIM market stock for IoT applications will grow from 599 million in 2022 to 4.712 billion in 2030, with a compound annual growth rate of 29% .

The growth of the eSIM market is driven by enterprise IoT applications in verticals such as automotive, industrial/manufacturing, and transportation/logistics. TechInsights expects commercial iSIMs to begin rolling out in 2023. By 2023, eSIMs (including iSIMs) are expected to account for more than 50% of total IoT module sales .

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