Smart Card IC Market Share 2023, Analysis, Size, Demand, Growth, Trends, Report 2028

IMARC Group has recently released a new research study titled, "Smart Card IC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the smart card IC market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

Market Overview:

The global smart card IC market reached a value of US$ 2.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 3.9 Billion by 2028 exhibiting a CAGR of 5.4% during 2023-2028.

Year Considered to Estimate the Market:

Base Year of the Analysis: 2022
Historical Period: 2017-2022
Forecast Period: 2023-2028

Industry Definition and Application:

A smart card integrated circuit, also known as a smart card IC, refers to physical cards that are embedded with an integrated chip, which acts as a security token. They are mostly available in microcontroller and memory variants and generally comprise of a central processing unit (CPU), timers, crystal oscillator, watchdog, and analog input and output. Smart card IC solutions help reduce the complexity, size of circuits, costs, and discrete components in embedded systems. Consequently, they find extensive applications across numerous sectors, such as telecommunication, transportation, education, retail, banking, government, etc.

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Smart Card IC Market Trends and Drivers:

The elevating adoption of cashless transactions, owing to rapid digitization, the inflating sales of smartphones, and the increasing availability of high-speed internet connectivity are primarily driving the smart card IC market. Furthermore, the growing number of debit and credit card users across the globe for secured transactions is acting as another significant growth-inducing factor. In addition to this, the expanding e-commerce websites and the shifting preferences toward online shopping are also positively influencing the global market. Apart from this, escalating usage of smart employee identification (ID) cards in medium and small-scale enterprises to secure access to physical facilities and computer systems and networks and the rising need for the product in the healthcare segment to manage patient identity, prevent fraud, and provide pharmacists and practitioners secure access to their medical records are further strengthening the market growth.

Moreover, the emerging trend of integrating the product in eSIM or SIM for several internet of things (IoT) devices for authenticating user identity and storing data is expected to propel the smart card IC market over the forecasted period.

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Market Segmentation:

The report has segmented the market on the basis of type, interface, architecture type, application, and end user industry.

Type Insights:

• Microcontroller
• Memory

The report has provided a detailed breakup and analysis of the smart card IC market based on the type. This includes microcontroller and memory. According to the report, microcontroller represented the largest segment.

Interface Insights:

• Contact
• Contactless
• Dual Interface

A detailed breakup and analysis of the smart card IC market based on the interface has also been provided in the report. This includes contact, contactless, and dual interface. According to the report, contactless accounted for the largest market share.

Architecture Type Insights:

• 16-Bit
• 32-Bit
• Others

A detailed breakup and analysis of the smart card IC market based on the architecture type has also been provided in the report. This includes 16-bit, 32-bit, and others. According to the report, 16-bit accounted for the largest market share.

Application Insights:

• USIM/eSIMs
• ID Cards
  • Employee ID
  • Citizen ID
  • E-Passport
  • Driving License
• Financial Cards
  • Credit Cards
  • Debit Cards
• IoT Devices

A detailed breakup and analysis of the smart card IC market based on the application has also been provided in the report. This includes USIM/eSIMs, ID cards (employee ID, citizen ID, e-passport and driving license), financial cards (credit cards and debit cards), and IoT devices. According to the report, USIM/eSIMs accounted for the largest market share.

End Use Industry Insights:

• E-Government
• Telecommunication
• Transportation
• Payment and Banking
• Others

A detailed breakup and analysis of the smart card IC market based on the end use industry has also been provided in the report. This includes e-government, telecommunication, transportation, payment and banking, and others. According to the report, telecommunication accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for smart card IC. Some of the factors driving the Asia Pacific smart card IC market included rapid digitization, emerging business models, and the integration of advanced technologies.

Competitive Landscape With Key Players:

The competitive landscape of the smart card IC market has been studied in the report with the detailed profiles of the key players operating in the market.

List of Key Companies Covered in this Market Report:

• Imatric LLC
• Shanghai Fudan Microelectronics Group Co. Ltd.
• Analog Devices Inc
• STMicroelectronics N.V.
• Watchdata Technologies Pte Ltd.
• SONY Group Corporation
• CEC Huada Electronic Design Co. Ltd.
• Toshiba Corporation
• Texas Instruments Incorporated
• Eastcompeace Technology Co. Ltd.
• On Semiconductor Corporation
• CardLogix Corporation

Kindly note that this only represents a partial list of companies. The complete list has been provided in the report.

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market.

Key Highlights of the Report:

• Impact of COVID-19
• Comprehensive Mapping of the Competitive Landscape
• Value Chain
• Porter's Five Forces Analysis
• Market Performance (2017-2022)
• SWOT Analysis
• Market Drivers and Success Factors
• Market Outlook (2023-2028)

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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