Globally, the electronic sim (e-SIM) market is expected to grow from $204.74 million in 2017 to $913.77 million by 2024, at a CAGR of 28% during the forecast period. Higher adoption of IoT and favorable government regulations regarding telecommunications are boosting M2M communication which is likely to drive the e-SIM Industry during the forecast period.
The growing demand for high-bandwidth applications and rising persistent connectivity on smartphones are likely to spur the growth of the eSIM market. The eSIM market is expected to grow from $253.8 Million in 2018 to $978.3 Million by 2023, at a CAGR of 31.0% between 2018 and 2023.
IOT or Internet of things can be defined as a real environment where the objects will be connected via the Internet. These objects are very intelligent in nature and hold the capabilities of sensing the environment and taking the necessary action. IOT plays very vital role in the development and growth of the sensor market.
Surface acoustic wave devices find a wide range of application in the healthcare and medicine industry. Surface acoustic wave devices are widely used for monitoring strain and pressure. Furthermore, surface acoustic wave devices are used for taking measurement of pressure fluctuation in different industrial applications.