eSIM Weekly Report: Week of December 15-21, 2025

Summary

This week's eSIM news highlights critical market shifts and strategic developments across consumer travel, IoT infrastructure, and market dynamics. Roamless secured $12M Series A funding to scale its global connectivity platform. At the same time, Juniper Research warns of declining travel eSIM revenues amid intensifying competition. The Beecham Research SGP.32 Buyers Guide provides crucial decision frameworks for enterprises evaluating IoT eSIM deployments.

This Week's Key Developments:

• Roamless raises $12M Series A to expand carrier-grade infrastructure
• Travel eSIM revenue per GB down 13% ($3.20 → $2.78) as market competition intensifies
• Beecham Research releases comprehensive SGP.32 Buyers Guide for IoT decision-makers
• Global market forecasts confirm $5.8B by 2030 projection (29.1% CAGR)

Top Stories This Week

1. Roamless Secures $12M Series A for Global eSIM Expansion

Date: December 17, 2025
Source: Tech.eu
Link: https://tech.eu/2025/12/17/roamless-raises-12m-to-expand-its-global-esim-connectivity-platform/

Global connectivity provider Roamless closed a $12 million Series A funding round led by Rasmal Ventures, with participation from Shorooq, Revo Capital, Finberg, and JIMCO. This brings total funding to $18 million following a $6 million seed round in 2024.

Funding Deployment Plans:

• Roamless Numbers: Local numbers in 20+ countries with in-app calling/SMS
• B2B Solutions: APIs for airlines, airports, OTAs, financial institutions, and super-apps
• AI-Driven Features: Network quality optimization, cost reduction, partner offer surfacing
• Team Expansion: Regional offices in major travel hubs
• Network Coverage: Expand global reach and supplier partnerships

Market Context:

• GSMA projects eSIM penetration: 20% (2024) → 88% (2030) of smartphone connections
• Roamless CEO Emre Demirel: "We expect the market to grow significantly and believe long-term winners will combine a strong product with reliable infrastructure and carrier-grade technology."

Competitive Positioning:
Unlike travel eSIM providers operating resale models, Roamless' proprietary telecom stack enables services beyond data-only offerings while avoiding reliance on third-party infrastructure.
Other operators operating their own infrastructure include Truphone and MTX Connect.

2. Travel eSIM Revenue Per GB Falls 13% Amid Intensifying Competition

Date: December 16, 2025
Source: VoIP Review / Juniper Research
Link: https://voip.review/2025/12/16/esim-market-shake-up-revenue-drops-service-bundling-rises/

Juniper Research released findings showing that the average revenue per gigabyte for travel eSIM declined from $3.20 (2023) to $2.78 (2025)—a 13% decrease driven by stagnant wholesale data costs and surging market competition.

Key Market Dynamics:

Price Pressure Factors:

• Proliferation of travel eSIM enablers is lowering entry barriers
• More brands launching proprietary solutions
• Established players forced into competitive pricing
• Vendor focus shifting from margins to customer retention

Strategic Shift Required:
Juniper Research analyst Molly Gatford emphasizes that providers must move beyond price competition by bundling additional services:

• Travel essentials (insurance, booking assistance, local guides)
• Loyalty rewards programs
• Value-added features beyond data access
• Higher margins vs. traditional data-only packages

"Businesses that focus on creating value beyond data alone will outpace larger competitors with less diversified offerings." - Molly Gatford, Juniper Research

Market Outlook 2025-2030:

• Comprehensive 60+ country analysis included in report
• Growth opportunities in service bundling and differentiation
• Winners will be those innovating customer experiences vs. competing solely on price

Industry Implications:
The pressure to lower prices reduces profit margins but simultaneously encourages innovation and service differentiation. Companies that successfully bundle services and create unique customer experiences will stand out in an increasingly commoditized market.

3. Beecham Research Releases Comprehensive SGP.32 Buyers Guide

Date: December 17, 2025
Source: IoT Now
Link: https://www.iot-now.com/2025/12/17/154767-what-iot-decision-makers-should-be-asking-about-esim/

IoT market analyst Beecham Research, sponsored by Wireless Logic, released a 74-page SGP.32 Buyers Guide addressing 50+ critical questions enterprises face when evaluating eSIM technology for IoT deployments.

Guide Download: https://www.beechamresearch.com/sgp32buyersguide

Why SGP.32 Matters Now:
The new GSMA standard for Remote SIM Provisioning (RSP) redefines how IoT connectivity is sourced, delivered, and governed by merging network selection, provisioning, and policy enforcement into a single lifecycle.

Business Transformation Impact:

• Connectivity shifts from sunk cost to controllable service layer
• Influences commercial flexibility, supply-chain design, and compliance
• Enterprises gain leverage in carrier negotiations
• Integrators deliver outcome-based SLAs vs. fixed contracts

Strategic Advantages by Stakeholder:

Stakeholder	Key SGP.32 Advantages
OEMs	Single global SKU, reduced inventory complexity, faster time-to-market
Enterprises	Network flexibility, reduced TCO, global scalability without vendor lock-in
Carriers	Streamlined provisioning, reduced operational costs, competitive positioning
Integrators	Simplified deployments, policy-based SLAs, lifecycle management capabilities

Critical Questions Addressed:

• Why adopt eSIM SGP.32 now vs. waiting?
• How will SGP.32 impact business models and operations?
• What are tangible deployment benefits across sectors?
• How does this differ from SGP.02 (M2M) and SGP.22 (Consumer)?

Guide Focus:
Rather than technical specifications alone, the guide prioritizes business outcomes and strategic considerations—providing commercially relevant insights for goal-aligned investment decisions.

Key Insight:
"Enterprises that hesitate risk higher costs, slower deployment and missed market opportunities. The time to embrace eSIM is now – and SGP.32, combined with the right IoT service provider, is the lever that turns its promise into reality."

4. Global eSIM Market Forecast: $5.8B by 2030

Date: December 10, 2025
Source: Research and Markets / Globe Newswire
Link: https://www.globenewswire.com/news-release/2025/12/10/3202952/0/en/Global-eSIM-Market-to-Surge-Projected-to-Reach-5-8-Billion-by-2030-with-29-1-CAGR.html

Research and Markets released comprehensive eSIM market analysis projecting growth from $1.2 billion (2024) to $5.8 billion (2030) at 29.1% CAGR.

Market Segmentation Growth:

• M2M Segment: $1.8B by 2030 (28.3% CAGR)
• Smartphones Segment: 31.7% CAGR through analysis period

Regional Performance:

• U.S. Market: $360.9M (2024)
• China: Projected 32.9% CAGR reaching $445M by 2030
• Key Markets: U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, MENA

Growth Drivers:

1. Increasing IoT device adoption requiring flexible connectivity
2. Rising demand for connected cars and smart city applications
3. Technological advancements in mobile devices and network infrastructure
4. Consumer demand for convenient, flexible connectivity options
5. Streamlined logistics and reduced environmental impact vs. physical SIMs

2025 Tariff Impact Analysis:
Report integrates June 2025 global trade shifts including:

• Tariff negotiations across 180+ countries
• Supply chain turbulence and sourcing disruptions
• Geographic realignment of manufacturing
• Revised forecasts incorporating Trump-era tariff perspectives

Featured Companies (38 total):

• Samsung Group
• NXP Semiconductors NV
• NTT Docomo, Inc.
• Singapore Telecommunications Ltd. (SingTel)
• Sierra Wireless, Inc.
• [Additional 33 vendors]

Report Scope:

• Historical analysis since 2015
• Segmentation by: product, technology, type, material, distribution channel, application, end-use
• Competitive intelligence: Global market share estimates, competitive positioning
• Expert commentary from economists, trade experts, domain specialists
• Complimentary July 2025 update with finalized tariff impacts

Market Analysis & Insights

Travel eSIM Market Dynamics

Revenue Compression:
The 13% decline in revenue per GB reflects market maturation and commoditization. As wholesale data costs remain stagnant while competition intensifies, providers face a critical decision: race to the bottom on price or differentiate through value-added services.

Winning Strategies:

• Service bundling (insurance, loyalty programs, travel essentials)
• Customer experience innovation beyond data access
• Platform partnerships (airlines, financial services, OTAs)
• Technology differentiation (carrier-grade infrastructure, AI optimization)

IoT eSIM: SGP.32 Adoption Imperative

Business Model Transformation:
SGP.32 fundamentally alters IoT connectivity economics by:

• Removing vendor lock-in through standardized provisioning
• Enabling single-SKU global products
• Reducing supply chain complexity and inventory costs
• Providing enterprise control over connectivity lifecycle

Hesitation Risks:
Organizations delaying SGP.32 adoption face:

• Higher total cost of ownership
• Slower deployment cycles
• Missed market opportunities as competitors move faster
• Continued vendor lock-in with legacy standards

Global Market Trajectory

2030 Projections Consensus:
Multiple sources align on aggressive growth:

• Research and Markets: $5.8B at 29.1% CAGR
• GSMA smartphone penetration: 88% by 2030
• Segment leaders: Smartphones (31.7% CAGR), M2M (28.3% CAGR)

Technology Enablers:

• 5G network rollouts enabling new use cases
• Device manufacturer commitment (Apple, Samsung, Google)
• IoT proliferation across automotive, utilities, smart cities
• Regulatory support in key markets

Industry Trends & Observations

1. Carrier-Grade Infrastructure Emergence

Roamless' $12M raise signals investor confidence in proprietary infrastructure models vs. resale-based approaches. Companies building their own telecom stacks gain:

• Greater control over customer experience
• Ability to offer services beyond data-only (voice, SMS, local numbers)
• Higher margins through direct carrier relationships
• Competitive moat through infrastructure complexity

2. Service Bundling as Differentiation

As data-only eSIM becomes commoditized, winners will differentiate through:

• Integrated travel services (insurance, booking tools)
• Financial services integration (payment cards, forex)
• Loyalty and rewards programs
• AI-driven personalization and network optimization

3. B2B Platform Plays

Strategic shift from B2C to B2B2C models:

• Airlines embedding connectivity in passenger services
• Financial institutions bundling with travel cards
• OTAs offering seamless connectivity with bookings
• Super-apps integrating global connectivity

4. IoT Standardization Momentum

SGP.32 reaching enterprise awareness milestone:

• Beecham Research guide signals mainstream readiness
• 74-page framework addresses decision-maker concerns
• Focus on business outcomes vs. technical specifications
• Wireless Logic sponsorship shows ecosystem commitment

Strategic Implications

For eSIM Providers

Immediate Actions:

1. Evaluate infrastructure strategy: Build vs. buy vs. partner
2. Develop bundling roadmap: Beyond data-only offerings
3. Establish B2B partnerships: Airlines, financial services, OTAs
4. Invest in differentiation: AI, customer experience, local services

Risk Management:

• Price compression will continue—plan margin strategies
• Competition increasing—identify defensible differentiation
• Wholesale costs stable—focus on value-add revenue

For IoT Enterprises

Decision Framework:

1. Assess SGP.32 readiness: Review Beecham guide decision points
2. Evaluate vendor ecosystem: Look for certification, interoperability
3. Calculate TCO impact: Compare vs. legacy SGP.02/22 approaches
4. Plan migration path: New deployments vs. existing fleet management

Timing Considerations:

• First-mover advantages in competitive markets
• Vendor selection narrowing as standards mature
• Supply chain benefits from single-SKU designs

For Investors

Market Signals:

• $12M Series A to Roamless validates infrastructure model
• Revenue compression requires scrutiny of unit economics
• B2B platform offers higher barriers to entry
• IoT SGP.32 creates a greenfield opportunity for specialists

Due Diligence Focus:

• Infrastructure ownership vs. resale dependency
• Service bundling capabilities and partnerships
• Customer acquisition cost trends
• Gross margin trajectories amid price compression

Week Ahead: What to Watch

1. Holiday Travel Season Data: December travel period as indicator of consumer travel eSIM adoption trends
2. SGP.32 Vendor Announcements: Watch for additional IoT platform certifications
3. B2B Partnership News: Airlines, OTAs, and financial services embedding connectivity
4. Q4 2025 Results: Major provider revenue/user metrics (if announced in late December)
5. Regulatory Updates: Year-end 2025 policy developments across key markets

Key Metrics & Forecasts

Market Size:

• 2024: $1.2 billion
• 2025: ~$1.6 billion (estimated)
• 2030: $5.8 billion (29.1% CAGR)

Smartphone Penetration:

• 2024: 20% of connections using eSIM
• 2030: 88% projected (GSMA)

Travel eSIM Economics:

• Revenue/GB 2023: $3.20
• Revenue/GB 2025: $2.78 (-13%)
• Trend: Continued compression, bundling required

IoT Projections:

• M2M segment 2030: $1.8B (28.3% CAGR)
• Smartphones 2030: Higher growth (31.7% CAGR)
• SGP.32 adoption accelerating

Data Sources & Methodology

This report synthesizes verified news from the week of December 15-21, 2025:

Primary Sources:

• Tech.eu - Roamless Series A announcement
• VoIP Review - Juniper Research market analysis
• IoT Now - Beecham Research SGP.32 guide
• Research and Markets / Globe Newswire - Market forecasts

All links verified as active on December 21, 2025.