Expanding Mobile Phone Subscriber Base Drives Demand for Subscriber Identity Module (SIM)
The worldwide market for SIM Cards is projected to cross 9 billion by 2024 , driven by the robust growth of SIM cards across categories such as LTE cards, embedded and nano-SIM cards, and expanding mobile phone subscriber base in developing countries. A Subscriber Identity Module (SIM) card is a smart card inserted into a mobile device for storing the international mobile subscriber identity and personal data of a subscriber. The growth in the market is primarily driven by new subscriber additions. At present, the market which was traditionally driven by the proliferation of mobile telephony is expected to be driven by expanding applications of SIM cards into other non-conventional sectors. SIM cards are finding extensive use in M2M applications, near field communications (NFC) applications, contactless transactions and in access-entry systems, among others. In developing markets such as in Asia-Pacific and Latin-America, market growth is being backed by increased penetration of ...