Report Ocean is a comprehensive analysis of the “Smart Card IC Market” that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.
Refreshed Content:
The Global Smart Card IC Market, valued at USD 2.9 billion in 2022, is poised for substantial growth with a growth rate exceeding 6.3% over the forecast period from 2023 to 2030. A smart card IC (Integrated Circuit), also known as a smart card chip or microcontroller chip, is a compact electronic device containing a microprocessor, memory, input/output interfaces, and security features. The market’s growth is driven by the increasing use of Subscriber Identity Module (SIM) cards for mobile phones, the expanded use of electronic identity cards for e-governance initiatives, and the growing adoption of smart cards in the payment and banking industries globally.
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The smart card IC market expansion is linked to the rising trend of contactless payments and the widespread adoption of ID cards in diverse organizations and educational institutions. The Electronic Transactions Association anticipates significant growth in the market for contactless payments, expected to surpass USD 100 billion by 2026. Another crucial factor is the increasing adoption of the Internet of Things (IoT) in various industries, such as telecommunications, BFSI, transportation, and retail, resulting in a heightened demand for cost-effective and highly efficient smart card ICs for secure data transfer and storage. Additionally, governments worldwide shifting from paper-based ID cards to chip-based ID cards to prevent illicit activities and protect citizens from identity theft contributes to the market’s growth. However, eSIM data security concerns and a global semiconductor chip supply shortage may hinder the industry’s growth throughout the forecast period from 2023 to 2030.
Market Dynamics:
- The Electronic Transactions Association predicts substantial growth in the contactless payments market, reaching over USD 100 billion by 2026.
- The increasing adoption of the Internet of Things (IoT) in various end-user industries drives demand for low-cost, effective smart card ICs.
- Governments transitioning to chip-based ID cards contribute to the market’s growth by enhancing security measures.
Key Regions:
Asia Pacific dominated the market in 2022 and is expected to experience the highest growth during the forecast period. Ongoing technological advancements in various verticals, quick urbanization, industrialization, and the growing adoption of digital technologies contribute to the region’s market dominance. Factors such as the expansion of IoT devices, increased use of digital technology in retail, corporate, educational, and entertainment sectors, and electrification growth in the transportation sector further drive market growth.
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Major Market Players:
Major players in the market include Infineon Technologies AG, NXP Semiconductors N.V., Samsung Electronics Co., Ltd., STMicroelectronics N.V., Microchip Technology Incorporated, CEC Huada Electronic Design Co., Ltd., Analog Devices, Inc., Sony Group Corporation, Toshiba Corporation, and ON Semiconductor Corporation.
Recent Developments:
- July 2022: Infineon Technologies AG introduces OPTIGA Trust M Express, an advanced security solution providing every IoT device with a unique identity and a trust anchor for connecting to the cloud.
- June 2022: STMicroelectronics N.V. launches ST4SIM-201 embedded SIM (eSIM) for machine-to-machine (M2M) communication, complying with the latest standards for 5G network access, M2M security, and remote provisioning and management.
- December 2021: Analog Devices, Inc. (ADI) acquires Maxim Integrated Products, Inc., strengthening ADI’s position as a high-performance analogue semiconductor manufacturer.
Objective of the Study:
The study aims to define market sizes of different segments & countries in recent years and forecast values to the coming years. The report incorporates both qualitative and quantitative aspects, analyzing driving factors, challenges, potential opportunities, competitive landscape, and component offerings of key players.
Detailed Segments and Sub-segments:
By Type:
- Microprocessor
- Memory
By Architecture:
- 16-bit
- 32-bit
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By Interface:
- Contact
- Contactless
- Dual Interface
By Application:
- USIMs/eSIMs
- ID Cards
- Financial Cards
By End User:
- Telecommunications
- BFSI
- Government & Healthcare
- Transportation
- Education
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Report Scope:
- Historical Data: 2020 – 2021
- Base Year for Estimation: 2022
- Forecast Period: 2023-2030
- Report Coverage: Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
- Segments Covered: Type, Architecture, Interface, Application, End-user, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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Key Questions Answered by the Report:
- What are the driving factors for market growth?
- What challenges and limitations does the market face?
- What emerging opportunities exist in the market?
- What potential threats and risks could impact the market?
- What is the current market size and growth rate?
- What are the market segments and their sizes?
- Which regions are projected to experience the highest growth and market share?
- What variables affect different geographical areas?
- Who are the major players in the market and their rankings?
- What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
- What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
- What is the present market outlook, considering recent changes and growth possibilities?
- What are the drivers, obstacles, and restrictions in both developing and emerging regions?
- How does the market analysis utilize Porter’s five forces analysis?
- How does the Value Chain provide insights into market dynamics?
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