Trends, opportunities and forecast in smart card IC market to 2023 by card type (microcontroller and memory), by type of interface (contact, contactless, and others), by 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)
According to a new market report published by Lucintel, the future of the smart card integrated circuit (IC) market looks attractive with opportunities in telecommunication, payment and banking, transportation, e-government, and others. The global smart card IC market is expected to reach an estimated $4.3 billion by 2023 with a CAGR of 4.0% from 2018 to 2023.
The major drivers for the growth of this market are 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 57 market data Tables and 74 Figures spread through 137 Pages and in-depth TOC on “Global Smart Card IC Market 2018-2023" www.lucintel.com/smart-c…arket.aspx
In this market two types of cards, such as microcontroller and memory based are used.
Microcontroller based smart card IC will remain the largest type, and it is expected to witness the highest growth during the forecast period as it enables secure payment facilities, authentication, and information storage for consumers.
The global smart card IC market is being used in various end use industries, such as e-government, telecommunication, transportation, payment and banking, and others. Telecommunication will remain the largest application segment during the forecast period supported by the rising adoption for subscriber identity modules (SIM) cards for mobile phones.
Asia Pacific is expected to be the largest region over the forecast period supported by increasing demand for smartphones in China and India. The government of various Asian countries mandates smart card IC in national ID cards, driving licenses, and other government identification cards, which is expected to drive the Asian smart card IC market during the forecast period.
Emerging trends, which have a direct impact on the dynamics of the industry, include the development of smart card IC that can provide more security and integration of smart cards with biometrics. Infineon Technologies AG, NXP Semiconductor, Samsung Electronics, STMicroelectronics, and CEC Huada Electronic Design Co.
Ltd are among the major smart card IC providers.
The study includes a forecast for the global smart card IC by card type, type of interface, end use industry, and region as follows:
By Card Type [$M shipment analysis from 2012 to 2023]:
By Type of Interface [$M shipment analysis from 2012 to 2023]:
By End Use Industry [$M shipment analysis from 2012 to 2023]:
- Payment and Banking
By Region [$M shipment analysis for 2012 – 2023]:
- North America
- United States
- United Kingdom
- Asia Pacific
- The Rest of the World
Category: Market Research Publishers and RetailersCompany about: Lucintel, the premier global market research and management consulting firm creates your equation for growth - whether you need to understand market dynamics, identify new opportunities or increase your profitability. Lucintel team of trusted industry experts for materials and manufacturing industries have executed over hundreds of consulting projects for clients, ranging from small, emerging organizations up to multinational companies such as 3M, Audi, BASF, Cytec, DSM, Eastman, GE, H ...