According to the recent study the smart card IC market is projected to reach an estimated $3.6 billion by 2027 from $2.9 billion in 2021, at a CAGR of 3.5% from 2021 to 2027. Growth in this market is primarily driven by increasing usage of Subscriber Identification Module (SIM) cards for mobile phones, growing adoption of electronic identification cards for various e-governance projects, and increasing usage of smart cards in payment and banking industries.
Browse 65 figures / charts and 57 tables in this 131 -page report to understand trends, opportunities and forecast in smart card IC market by card type (microcontroller and memory), type of interface (contact, contactless, and others), end use industry (e-government, telecommunication, transportation, payment and banking, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Microcontroller market is expected to remain the largest segment during the forecast period.”
Based on card type, the smart card IC market is segmented into microcontroller and memory. Lucintel forecasts that the microcontroller market is expected to remain the largest segment due to enables secure payment facilities, authentication, and information storage for consumers.
“Within the smart card IC market, the telecommunication segment is expected to remain the largest end use industry”
Based on end use industry the telecommunication segment is expected to witness the highest growth over the forecast period as it enables secure payment facilities, authentication, and information storage for consumers.
“Asia pacific will dominate the smart card IC market in near future”
Asia Pacific will remain the largest region and it is also expected to witness highest growth over the forecast period.
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Major players of smart card IC market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Infineon Technologies AG, NXP Semiconductor N.V., Samsung, STMicroelectronics, CEC Huada Electronic Design Co., Ltd., EM Microelectronic-Marin SA, and On Semiconductor Corporation are among the major smart card IC providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-card-ic-market.aspx or [email protected]