eSIM: IoT Connectivity Installation Reached 650m in 2023 – Report

IoT Analytics has released a new report highlighting the role of eSIM and iSIM technology in improving security, simplifying roaming, and facilitating provisioning for cellular IoT devices, though current adoption stands at 33% of the device base.

The research from IoT Analytics shows the global installed base of eSIM-capable IoT connectivity modules reached 650 million in 2023.

While eSIM technology offers significant advantages for cellular IoT connectivity, including remote SIM provisioning and enhanced security, its adoption has encountered obstacles such as complexities in remote SIM provisioning and fragmented standards across the industry.

Recent efforts to ease these challenges come in the form of new specifications, SGP.31 and SGP.32, introduced by the GSMA.

These specifications aim to provide a clearer framework for manufacturers and end-users, potentially accelerating the deployment of eSIM technology.

IoT Analytics anticipates that the market for cellular IoT modules with eSIM technology will witness accelerated growth beginning in the second half of 2025.

These insights are part of their updated IoT eSIM Modules and iSIM Chipsets Market Tracker and Cellular IoT Modules & Chipsets Security Tracker reports.

Satyajit Sinha, principal analyst at IoT Analytics, shared his observations, stating,

“In Q3 2024, we observed a notable shift in CEO discussions toward AI applications, renewable energy, IT resilience, and the upcoming U.S. elections. Despite this shift, economic concerns remained the most discussed theme overall. Historically, changes in CEO discussion themes have been indicators of shifts in sentiment and corporate investment behavior. I expect these emerging topics to play a more prominent role in corporate decision-making moving forward.”

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