オラフライ・フォー・ビジネスの最新の調査によると、ビジネス出張者は行く先々で「オフィスを持ち歩く」

Holafly for Businessの「2026年夏の旅行＆eSIMレポート」では、海外出張者のうちビジネス出張者が約5人に1人を占め、35歳未満が過半数（45歳以上は前年差-7.4pt）と人員構成が若年化している。接続のストレスは86.5%が経験し、安全なインターネット接続を最優先する人が4割超。法人eSIM提供を受ける出張者の生産性向上は81.3%と、法人ローミング61.2%や自手配52.4%を大きく上回る。

Analysis

This reads less like a revenue catalyst and more like a budget-routing signal: international connectivity is being recast from a telecom add-on into an enterprise security/mobility problem. That favors vendors that can bundle identity, zero-trust access, and device provisioning, while pressuring the small but high-margin slice of roaming economics that carriers still extract from business travelers. The near-term P&L impact is likely modest, but the margin mix matters: roaming is incremental profit, so even a low-single-digit share shift can matter disproportionately to wireless ARPU trends.

The second-order winner is not necessarily the retail eSIM layer; it is the control point around policy enforcement. If procurement teams standardize on managed eSIM plus secure access, the attach opportunity shifts toward SASE and endpoint management, while public Wi-Fi usage and unmanaged reimbursements get structurally less relevant. That trend should show up slowly over 1-3 quarters in enterprise refresh cycles and 6-18 months in corporate travel policy updates, not in immediate revenue prints.

Contrarian view: the market may be overpricing the durability of pure-play eSIM economics. Device-native eSIM support from Apple/Samsung and carrier international bundles can commoditize the product quickly, capping pricing power for consumer-facing resellers. The thesis is falsified if carrier roaming metrics stay resilient through the next two earnings cycles or if enterprise travel volumes weaken enough that connectivity spend becomes a rounding error rather than a policy priority.

Key Decisions for Investors

• No immediate headline trade; treat this as a 1-3 quarter monitoring item rather than a fast-money catalyst.
• Relative-value idea: long CIBR or PANW on weakness vs short IYZ on strength; thesis is that enterprise security/mobility spend captures the budget while roaming economics erode. Best entry is after a telecom rally or a cybersecurity pullback, with a 6-12 month horizon.
• If carriers report, focus on international roaming/other service revenue and business ARPU at VZ, T, and TMUS; if those lines hold up, reduce or exit any short-telecom relative-value exposure.
• Avoid chasing consumer eSIM resellers directly; the cleaner public-market expression is security/software, not the retail connectivity wrapper.