Businesses around the world are generally optimistic about the promise of the Internet of Things and are utilizing the latest technologies to exploit them, new research shows.

What is eSIM

eSIM stands for "Embedded Subscriber Identity Module" (Embedded Subscriber Identity Module), which is a digital SIM card technology for mobile devices such as smartphones, tablets and Internet of Things devices. Unlike traditional physical SIM cards, eSIM does not require the physical card to be inserted or replaced, but instead digitally embeds SIM card information into a chip inside the device.

The working principle of eSIM is that the mobile operator can program the information of the SIM card (such as IMSI, MSISDN, etc.) into the eSIM chip of the device during the manufacturing process of the device. Users can remotely download or switch to different mobile network service plans by establishing a connection with the operator without changing the physical SIM card.

The advantages of eSIM include:

• Convenience: Users don't need to carry or change physical SIM cards, making it easier to switch between different carriers.
• Space saving: Device manufacturers can save space as there is no longer a need to reserve a slot for a physical SIM card.
• Support for multiple networks: Users can easily switch mobile network services in different countries or regions internationally.
• Remote Activation: Users can activate new mobile network services remotely without going to a physical store.
• More connectivity options: eSIM technology can also help support Internet of Things (IoT) devices, allowing them to connect to mobile networks more flexibly.

It should be noted that although eSIM is already supported and widely used in many places, its availability may vary in different countries and regions. When purchasing a device that supports eSIM technology, users should confirm whether it is compatible with the local mobile operator.

5G and eSIM drive enterprise IoT growth

Hundreds of enterprise professionals across eight industry verticals were surveyed in a global survey to understand their attitudes and strategies towards the Internet of Things (IoT). Overall, respondents are surprisingly optimistic about IoT's business prospects, with 95 percent expecting to see measurable benefits within two years of deployment. Additionally, 90 percent of respondents indicated that existing IoT projects have met or exceeded their expectations.

The overall survey report shows a general pattern of steady growth, for example, the percentage of enterprises spending more than $5 million on IoT has doubled in the past two years. Perhaps the most relevant data points for the telecommunications industry relate to the technologies used. More than 70% of enterprises plan to use 5G connectivity for IoT, and eSIM/iSIM technology has been or will be adopted by nearly 90% of enterprises in the next two years.

While some tech giants have scaled back their IoT efforts, enterprises are embracing IoT and seeing significant results. In fact, enterprises are very much looking forward to adopting new technologies such as 5G, fixed wireless access (FWA) and eSIM/iSIM technology.

The survey indicates that there are numerous opportunities ranging from hardware, software, connectivity to services. However, security remains a top concern for businesses, and suppliers must not only be able to deliver secure products and services, but also be able to integrate effectively into broader solutions. Vendors that fail to provide security solutions will find themselves excluded from this growing market.

These findings come at an interesting time for the Internet of Things. This buzzword has been around for at least a decade, but it feels like its development has been slow. However, the 5G era is defined by a massive expansion of B2B communication service offerings, so perhaps the era of IoT may finally have arrived. Future in-depth studies on IoT revenue trends in the enterprise and telecom industries will be instructive.