Significant financial support from governments across the world for R&D in the Internet of Things, emerging needs for cross-domain applications, and proliferation of Wi-Fi as wireless connectivity standard in consumer and enterprise sectors are some major opportunities for the growth of the market.
The low-light imaging market is expected to be worth $10.0 billion in 2019 and reach $18.4 billion by 2024, at a CAGR of 12.8% from 2019 to 2024. The growth of this market can be attributed to the high adoption of low-light imaging technology in consumer electronics, especially in smartphones.
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.