The smart card IC market is estimated to grow from USD 3.2 billion in 2019 to USD 3.8 billion by 2025, at a CAGR of approximately 3%. The future of the smart card IC market creates new prospects to the smart card IC suppliers in the telecommunication, payment & banking, transportation, e-government industries. The smart card IC market is expected to decline in 2020 due to COVID-19 and is expected to recover in 2021. The major growth drivers for this market are growth in usage of SIM cards for mobile phones, increasing usage of electronic identification cards for various e-governance projects, and smart cards in payment and banking industries.
APAC is the largest along with the fastest growing region in the global smart card IC market due to increasing growth of the telecommunication and payment & banking industry seen in China and India.
Telecommunication is the largest application due to rising adoption for subscriber identity modules (SIM) cards for mobile phones.
Smart card IC market is consolidated and some of the major players in this market include Infineon Technologies AG, NXP Semiconductor, Samsung Electronics, STMicroelectronics, and CEC Huada Electronic Design Co and others
The sample figures with some insights are shown below
The scope of the global Smart card IC market report is as follows:
- Key Features Description
- Base Year 2019
- Trend Period 2014-2019
- Forecast Period 2020-2025
- Units Considered Value ( $ Million)
Market Segments By card type (microcontroller and memory), by type of interface (contact, contactless, and others), by end use industry (e-government, telecommunication)
Regional / Country North America ( US, Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia Pacific (China, India, and Rest of APAC), and RoW
The report performed both primary as well as exhaustive secondary research for this study. Initially, the report analyzed all the leading Smart card IC manufacturers across the globe. Subsequently, conducted primary research surveys with the identified companies. While interviewing, the company personnel were enquired about their key products, revenues, manufacturing plant location, and competitors. For this study, the report conducted more than 20 interviews, the same are mentioned below:
- By company type: Manufacturers (50%), Consumers (25%), Researchers (15%), Independent industry consultant (10%)
- By geography: North America (25%), Asia (40%), Europe (25%), Rest of the World (15%)
- By designation: Top level (40%), Operation level (20%), Mid-level (40%)
The report analyzed by card type, by type of interface and regional presence of all major Smart card IC manufacturers across the globe. Market size for global Smart card IC was calculated by using bottom-up approach as well as top –down approach. Various secondary sources such as secondary sources directories, database, company annual reports, white papers, investor presentations and financial reports were also studied to estimate the market size and growth rate.