LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global subscriber identification module (SIM) card market to grow at a CAGR of more than 1% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global SIM card market for 2017-2021. The market is segmented on form factor (FF), which includes 2FF: Plug-in SIM, 3FF: Micro SIM, 4FF: Nano SIM, and Triple SIM.
The major factors responsible for the increase in revenue in the market is the increased utilization rate of smartphones (30% across the globe) and rise in need for triple SIM cards. Continuous migration toward 4G networks has increased the shipment of LTE cards. The nano SIM FF gained popularity in 2015 and continued the trend in 2016 as well. Smartphones are increasingly being adopted worldwide. The leading countries driving the demand for sim cards are China and India. The growth in the M2M industry is also expected to increase the demand for sim cards during the forecast period.
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Technavio hardware and semiconductor research analysts highlight the following three factors that are contributing to the growth of the global SIM card market:
- LTE migration across markets
- Increase in population and mobile connectivity
- Development of triple SIM FF
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LTE migration across markets
LTE is delivering faster data access and helps the operators to provide higher data speed to consumers. LTE can deliver more data, with high speed, and a better experience for the consumers when compared to 3G.
Sunil Kumar Singh, a lead embedded systems research analyst at Technavio, says, “In developed markets, the operators need to generate revenue from premium data services such as mobile video, gaming, and business apps, which necessitate higher bandwidth and low latency in LTE. In developing markets, LTE will have a cost-effective strategy to bring the mobile internet to areas, which previously had no internet access. The adoption of smartphones and tablets has led to data retrieval from online applications and development of LTE infrastructure in the market.”
Increase in population and mobile connectivity
Global mobile connection database is a huge achievement for the telecommunication industry to connect almost every single person on the planet to a mobile network. The industry growth is referred by the number of subscribers or customers. An individual that has subscribed to a mobile service can hold multiple mobile connections. Mobile connectivity drives the demand for SIM cards.
“The population is growing, and the cellular operators are focusing on to reach each customer segment with different tariffs. So, many cellular operators are providing different services and attracting the customers to use their services. Thus, the customer tends to prefer multiple SIM cards for their use, and this has been a driving factor for the SIM card market,” adds Sunil.
Development of triple SIM FF
The increase in mobile devices has entailed the growth of the SIM card market, which, in turn, is driving the need for SIM FFs. Mobile network operators had a challenge of maintaining stocks. Most mobile subscribers are not aware of the FFs of the SIM cards used in the mobile devices.
The adoption of triple SIM is increasing among the mobile service providers as well as the end-consumers. This prompts the SIM card vendors to manufacture triple SIM in huge volumes to meet the demand from the consumers.
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