About Smart Card IC
A smart card refer to the type of card which contains an integrated circuit chip embedded on it. Some of the major advantages of smart card IC are secure transactions, gives more security, might be promptly reconfigured, reusable, permit numerous provisions to be saved in one card, among others. Demand for contactless cards is increasing owing to their benefits such as speed, ease of use, versatility and others. Rising interest in smart cards IC include the declining cost of smart cards are likely to be prime driver for market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 202 |
Unit | Value (USD Million) |
CAGR | 5.35% |
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global smart card IC market can witness an upsurge in the forecast period. Various players are operating in the market such as Infineon Technologies AG (Germany), NXP Semiconductors (Netherland), ON Semiconductor (United States), Abnote (Australia), among others. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Smart Card IC market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Infineon Technologies AG (Germany), NXP Semiconductors (Netherland), ON Semiconductor (United States), Abnote (Australia), Renesas Technology (Japan), Samsung (South Korea), EM Microelectronic SA (Switzerland), HT Micron Semicondutores (Brazil), STMicroelectronics (Switzerland) and Atmel Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Koninklijke Philips N.V. (Netherlands), CardLogix Corporation (United States), Gemalto (Netherlands), Oberthur Technologies (France), Watchdata System Co. Ltd. (China), Giesecke&Devrient (Germany), Inside Contactless (United States), Shanghai Huahong Integrated Circuits (China), Datang Telecom Group (China) and Shanghai Fudan Microelectronics (China).
Segmentation Overview
AMA Research has segmented the market of Global Smart Card IC market by Type (Memory Card IC, Security Logic Card IC and CPU Cards IC), Application (Cashless Vending, Public Transport, Ecommerce and Retail, e-Passports, Secured Physical access, Travel Document and Others) and Region.
On the basis of geography, the market of Smart Card IC has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material , the sub-segment i.e. PVC will boost the Smart Card IC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component , the sub-segment i.e. Hardware will boost the Smart Card IC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical , the sub-segment i.e. Banking industry will boost the Smart Card IC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement regarding Smart Card IC
Market Growth Drivers:
Rising Demand for Contactless Smart Cards IC and Increasing Demand for Identification Cards to Avail Government Facilities
Challenges:
Lack of Standardization and Consumer Awareness and Security-related to Contactless Technology
Restraints:
Increasing Adoption of Mobile Wallets
Opportunities:
Black Chain Technology Enhancing Securities Features and Growing Demand from Emerging Market such as China, India, Brazil, among others
Market Leaders and their expansionary development strategies
In July 2023, STMicroelectronics (France) and ON Semiconductor Corporation (US) announced a strategic partnership to develop and manufacture secure chips, including smart card ICs.
In October 2023, STMicroelectronics introduced the ST33T2K1M secure microcontroller, designed for high-performance and cost-effective smart card applications.
Key Target Audience
Smart Card IC Manufactures Company, Regulatory Bodies, Component Suppliers, Distributors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.