According to the new market research report "eSIM Market by Application (Connected Cars, Laptops, M2M, Smartphones, Tablets, Wearables), Vertical (Automotive, Consumer Electronics, Energy & Utilities, Manufacturing, Retail, Transportation & Logistics), and Geography – Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated to grow from USD 253.8 Million in 2018 to USD 978.3 Million by 2023, at a CAGR of 31.0% between 2018 and 2023. The growth is attributed to the emphasis on remote SIM provisioning for M2M, favorable government regulations boosting M2M communication, and high adoption of IoT technology.

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