Electronic Universal Circuit Card (eUICC) Market - Forecasts from 2019 to 2024

The electronic universal circuit card (eUICC) market is projected to grow at a CAGR of 49.60% during the forecast period of 2018 to 2024. eUICC or embedded system identity modules (eSIM) are devices which allows users to store multiple network service provider profiles on a single chip and change the service provider on the fly without removing or changing the SIM. The demand for eUICCs will increase during the forecast period owing to the increasing need for machine to machine (M2M) communication, for a smoother and secure networking structure, and integration of eUICCs in many smaller consumer products such as smartphones and smart watches for integration and connectivity. However, lack of awareness and slower adoption rate among consumers from developing nations will limit its market. The North American market will hold a significant share in the market and will see many growth opportunities during the next five years on account of early adoption of technology and penetration of consumer electronics in the market.

Drivers

Growing industrial automation and need for M2M communication
Growing adoption of wearable electronics.

Restraints

Lack of awareness and slower penetration in developing economies.

INDUSTRY UPDATE
In February 2019, IDEMIA and Kudelski Group launched a global partnership to simplify IoT connectivity and security by integrating Kudelski’s IoT security platform into IDEMIA’s DAKOTA IoT (eUICC) and TSM solutions.

In December 2018, Redtea Mobile unveiled their new eSIM+ platform, which is the first platform by the company to leverage eSIM-enabled Apple iPhones.

Major industry players profiled as part of the report STMicroelectronics, Sierra Wireless, Oasis Smart SIM, Avnet, Inc., Gemalto, and Infineon Technologies AG.

Segmentation

The eUICC market has been analyzed through following segments:

By End-Use

Smartphones, Tablets and Smartwatches
Industrial
Automotive
Others

By Geography

North America
South America
Europe
Middle East and Africa
Asia Pacific