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Global Smart Card IC Market to reach USD 4.73 billion by the end of 2030.

Global Smart Card IC Market Size Study & Forecast, by Type (Microprocessor, Memory), by Architecture (16-bit, 32-bit), by Interface (Contact, Contactless, Dual Interface), by Application (USIMs/eSIMs, ID Cards, Financial Cards), by End-user Industry (Telecommunications, BFSI, Government & Healthcare, Transportation, Education, others) and Regional Analysis, 2023-2030

Product Code: ENGE-44034222
Publish Date: 4-08-2023
Page: 200

Global Smart Card IC Market is valued approximately at USD 2.9 billion in 2022 and is anticipated to grow with a growth rate of more than 6.3% over the forecast period 2023-2030. A smart card IC, also known as a smart card chip or a microcontroller chip, is a small electronic device that contains a microprocessor or microcontroller along with other components such as memory, input/output interfaces, and security features. The increasing use of Subscriber identity Module (SIM) cards for mobile phones, expanding use of electronic identity cards for various e-governance initiatives, and growing use of smart cards in the payment and banking industries are the main factors driving the growth of this market across the globe.

The expansion of the smart card IC market is associated to the increasing trend of contactless payments and widespread adoption of ID cards in diverse organizations and educational institutions. According to the Electronic Transactions Association, the market for contactless payments is expected to experience significant growth between 2023 and 2026, rising from its present market worth of over USD 40 billion to over USD 100 billion. Another important factor for the market is the rising adoption of IoT in the telecommunications, BFSI, transportation, and retail end-user industries, which has increased demand for low-cost, highly effective smart card ICs used for secure data transfer and storage. In addition, the focus of governments in many nations on switching from paper-based ID cards to chip-based ID cards to stop illicit activity and safeguard citizens from identity theft can be credited to the growth and development of the market. However, eSIM data security issues and a global supply shortage of semiconductor chips may be the main factors limiting the industry’s growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Smart Card IC Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 and is also anticipated to experience the highest growth during the forecast period due to ongoing technological advancements in the telecommunications, BFSI, government, healthcare, and transportation verticals, the growing adoption of digital technologies, and the region’s quick urbanization and industrialization. Other significant factors include the expanding use of IoT devices, the expansion of digital technology use in the retail, corporate, educational, and entertainment sectors, and the expansion of electrification in the transportation sector.

Major market players included in this report are:

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 (Japan)
ON Semiconductor Corporation

Recent Developments in the Market:
Ø In July 2022, with the introduction of OPTIGA Trust M Express, an advanced security solution from Infineon Technologies AG, every IoT device has a distinct identity and an anchor of trust for connecting to the cloud. It is perfect for linked consumer gadgets, smart homes, and building and industrial automation applications.
Ø In June 2022, The ST4SIM-201 embedded SIM (eSIM) for machine-to-machine (M2M) communication was introduced by STMicroelectronics N.V., and it complies with the most recent standards for 5G network access, M2M security, and adaptable remote provisioning and management.
Ø In December 2021, Maxim Integrated Products, Inc. was purchased by Analogue Devices, Inc. (ADI) in order to bolster ADI’s position as a manufacturer of high-performance analogue semiconductors.

Global Smart Card IC Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Architecture, Interface, Application, End-user, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
By Architecture:
By Interface:
Dual Interface
By Application:
ID Cards
Financial Cards

By End User:
Government & Healthcare

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Smart Card IC Market, by region, 2020-2030 (USD Billion)
1.2.2. Smart Card IC Market, by Type, 2020-2030 (USD Billion)
1.2.3. Smart Card IC Market, by Architecture, 2020-2030 (USD Billion)
1.2.4. Smart Card IC Market, by Interface, 2020-2030 (USD Billion)
1.2.5. Smart Card IC Market, by Application, 2020-2030 (USD Billion)
1.2.6. Smart Card IC Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Smart Card IC Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Smart Card IC Market Dynamics
3.1. Smart Card IC Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising usage of SIMs and eSIMs in smartphones Rise in contactless payments
3.1.2. Market Challenges Data security concerns related to eSIMs Global semiconductor chip supply shortage
3.1.3. Market Opportunities Government agencies promoting digitalization Increased adoption of IoT by end-user industries
Chapter 4. Global Smart Card IC Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Card IC Market, by Type
5.1. Market Snapshot
5.2. Global Smart Card IC Market by Type, Performance – Potential Analysis
5.3. Global Smart Card IC Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Smart Card IC Market, Sub Segment Analysis
5.4.1. Microprocessor
5.4.2. Memory
Chapter 6. Global Smart Card IC Market, by Architecture
6.1. Market Snapshot
6.2. Global Smart Card IC Market by Architecture, Performance – Potential Analysis
6.3. Global Smart Card IC Market Estimates & Forecasts by Architecture 2020-2030 (USD Billion)
6.4. Smart Card IC Market, Sub Segment Analysis
6.4.1. 16-bit
6.4.2. 32-bit
Chapter 7. Global Smart Card IC Market, by Interface
7.1. Market Snapshot
7.2. Global Smart Card IC Market by Interface, Performance – Potential Analysis
7.3. Global Smart Card IC Market Estimates & Forecasts by Interface 2020-2030 (USD Billion)
7.4. Smart Card IC Market, Sub Segment Analysis
7.4.1. Contact
7.4.2. Contactless
7.4.3. Dual Interface
Chapter 8. Global Smart Card IC Market, by Application
8.1. Market Snapshot
8.2. Global Smart Card IC Market by Application, Performance – Potential Analysis
8.3. Global Smart Card IC Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
8.4. Smart Card IC Market, Sub Segment Analysis
8.4.1. USIMs/eSIMs
8.4.2. ID Cards
8.4.3. Financial Cards
Chapter 9. Global Smart Card IC Market, by End User
9.1. Market Snapshot
9.2. Global Smart Card IC Market by End User, Performance – Potential Analysis
9.3. Global Smart Card IC Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
9.4. Smart Card IC Market, Sub Segment Analysis
9.4.1. Telecommunications
9.4.2. BFSI
9.4.3. Government & Healthcare
9.4.4. Transportation
9.4.5. Education
9.4.6. Others
Chapter 10. Global Smart Card IC Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Smart Card IC Market, Regional Market Snapshot
10.4. North America Smart Card IC Market
10.4.1. U.S. Smart Card IC Market Type breakdown estimates & forecasts, 2020-2030 Architecture breakdown estimates & forecasts, 2020-2030 Interface breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 End-User breakdown estimates & forecasts, 2020-2030
10.4.2. Canada Smart Card IC Market
10.5. Europe Smart Card IC Market Snapshot
10.5.1. U.K. Smart Card IC Market
10.5.2. Germany Smart Card IC Market
10.5.3. France Smart Card IC Market
10.5.4. Spain Smart Card IC Market
10.5.5. Italy Smart Card IC Market
10.5.6. Rest of Europe Smart Card IC Market
10.6. Asia-Pacific Smart Card IC Market Snapshot
10.6.1. China Smart Card IC Market
10.6.2. India Smart Card IC Market
10.6.3. Japan Smart Card IC Market
10.6.4. Australia Smart Card IC Market
10.6.5. South Korea Smart Card IC Market
10.6.6. Rest of Asia Pacific Smart Card IC Market
10.7. Latin America Smart Card IC Market Snapshot
10.7.1. Brazil Smart Card IC Market
10.7.2. Mexico Smart Card IC Market
10.8. Middle East & Africa Smart Card IC Market
10.8.1. Saudi Arabia Smart Card IC Market
10.8.2. South Africa Smart Card IC Market
10.8.3. Rest of Middle East & Africa Smart Card IC Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. Infineon Technologies AG Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.3.2. NXP Semiconductors N.V.
11.3.3. Samsung Electronics Co., Ltd.
11.3.4. STMicroelectronics N.V.
11.3.5. Microchip Technology Incorporated
11.3.6. CEC Huada Electronic Design Co., Ltd.
11.3.7. Analog Devices, Inc.
11.3.8. Sony Group Corporation
11.3.9. Toshiba Corporation (Japan)
11.3.10. ON Semiconductor Corporation
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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