Facts and Factors released a demand analysis for the global eSIM market size & share revenue, estimating the industry to be worth around USD 25.8 billion by 2028, with a projected compound annual growth rate (CAGR) of roughly 16.42% from 2022 to 2028.
Why eSIMs are taking over
The necessity for a physical SIM card is eliminated through an embedded SIM, or eSIM. This appeals to frequent travelers as they would not need to buy a new SIM card whenever they fly to a new location.
eSIMs can also be installed and activated more efficiently than regular SIM cards by scanning a QR code that registers an eSIM profile with a mobile network. Although some might require a PIN, it does not take longer than 15 minutes to connect.
An eSIM-enabled smartphone also makes switching networks much easier, eliminating the need to go to a network merchant to shift or wait for a physical card’s postal delivery. Users can simply select their service provider, connect to their network remotely using an eSIM, and obtain the required details over the phone or online.
eSIMs are undoubtedly an innovative move from its traditional format, posing nearly no disadvantages compared to physical sim cards. In fact, eSIMs have solved most, if not all, of the issues with regular SIM cards, especially security concerns.
The best eSIM provider
SimOptions was incorporated in 2016 as a travel sim card marketplace. Within the succeeding years, they have become a leading marketplace for SIM cards. The company started selling eSIMs in 2021, where it sold 150,000 eSIMs, quickly overtaking its physical SIM sales.
SimOptions’ eSIM packages are much more beneficial than other providers. It offers up to 100-gigabyte data packages depending on the user’s travel destination and covers over 160 countries. It also offers eSIMs with SMS and calls capabilities to local phone numbers. SimOptions works with the most prominent telecommunications operators to ensure fast speed and issue-free experience with their eSIM and is set to launch an eSIM app to enhance the services for its clients. The company reports more than 500,000 users by the end of 2022 and is expecting to at least double the number within 2023.
