Smart Card Integrated Circuit (IC) Market Forecasts to 2030 - Global Analysis By Type (Memory, Microcontroller and Other Types), Architecture, Interface, Application, End User and By Geography
According to Stratistics MRC, the Global Smart Card Integrated Circuit (IC) Market is accounted for $3.1 billion in 2023 and is expected to reach $5.4 billion by 2030 growing at a CAGR of 8.2% during the forecast period. An embedded smart card integrated circuit (IC), commonly referred to as a chip card, is a service token for storing and exchanging data between users. It is processed and stored in memory and on a microprocessor card chip and is connected to value and information. It is frequently offered in memory and microcontroller variations. Among these, the microcontroller smart card IC comprises a central processing unit (CPU), crystal oscillator, timers, watchdog, and analog input and output. It helps reduce the complexity, costs, size of circuits, and discrete components in embedded systems.
According to GSM Association, the Internet penetration rate in APAC exceeded 1.2 billion, with a penetration rate under 45% in 2021.
Growing IoT adoption among end-user industries
Manufacturing operations in Industry 4.0 are totally automated with minimal to no human involvement. Due to ongoing technical improvements, rising cellular connectivity & data transfer speeds, and the development of cloud infrastructure, industry participants are concentrating on embracing IoT. Additionally, the need for low-cost, highly effective smart card ICs used for protected data storage and data transmission has increased. As a result, IoT has recently attracted the attention of technology companies, organisations and consumers.
Increasing use of mobile wallets
Businesses in the banking sector see ongoing innovation. A smartphone app and a digital wallet are software platforms for conducting online transactions. Globally, the use of digital wallets is constantly growing. This is motivating a number of businesses to introduce digital wallets in an effort to meet consumers' growing demand. Due to the rising demand for digital wallets, consumers will switch from using smart cards to mobile wallets. This will result in a decline in the use of smart cards, which will impede the market's expansion.
Dual-interface cards are in high demand.
A debit or credit card with a dual interface can be used for both contactless and contact transactions thanks to an IC chip that is incorporated in the card. In order to assist customers wait less in businesses with high transaction volumes, merchants are choosing devices with dual-interface cards. Due to the increasing demand, numerous businesses are now providing dual-interface cards on the market. The need for smart card ICs will rise as the demand for dual-interface cards increases.
Data security for eSIMs
By offering automatic compatibility across connectivity systems and various SIM operator profiles, eSIM cards enable remote provisioning of SIM profiles. An eSIM's operational flexibility, nevertheless, would be useless if its security were to be jeopardised. A mobile network operator's (MNO) login information is gathered and stored by an eSIM in the device's built-in software, which is vulnerable to numerous security breaches. It also uses a variety of MNOs and physical platforms to operate, which exposes it to the risk of the virtual environment.
The use of smart cards in the healthcare and telecommunications industries was less affected. The market may expand in the medium to long term as a result of the rising medical industry. The expansion of healthcare data poses considerable challenges to both privacy and effective patient care. Smart cards offer safe data distribution and storage, solving both issues. The market for smart card ICs is expected to rise in the upcoming years as a result of rising demand for contactless payments, government initiatives for national ID cards, and growing e-commerce sales.
The contactless segment is expected to be the largest during the forecast period
The contactless segment is estimated to have a lucrative growth, due to increasing usage of these cards in various organizations and educational institutions as an access control device. They are employed in biometric systems since they only transfer data in one direction and don't process data over the internet. Additionally, many organisations switched to contactless smart cards in response to the pandemic because they are a more hygienic alternative than touch-based biometric technologies like palm geometry and fingerprint identification.
The government and healthcare segment is expected to have the highest CAGR during the forecast period
The government and healthcare segment is anticipated to witness the fastest CAGR growth during the forecast period, due to an increase in the adoption of eID cards. Due to the ability of electronic government papers to track citizen information, the epidemic increased the necessity for regulation of their use. Additionally, by keeping track of important medical information, medication histories, and acting as an electronic prescription, e-health cards have the potential to enhance the patient experience. Social Security numbers can be safely stored on these cards as well.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the ongoing technological innovations in the telecommunications, BFSI, government and healthcare, and transportation verticals, the increasing adoption of digital technologies, and rapid urbanization and industrialization. Other significant factors include the expanding use of Internet of Things (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.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to increasing adoption of cashless transactions on account of rapid digitization, rising sales of smartphones and high-speed internet connectivity. In addition, more people are using debit and credit cards since they offer secure transactions and security. The industry is primarily being driven by the increased use of cashless transactions due to the growing use of smartphones and high-speed internet connectivity.
Key players in the market
Some of the key players profiled in the Smart Card Integrated Circuit (IC) Market include Infineon Technologies AG, Microchip Technology Inc., Samsung Electronics Co. Ltd., Datasonic Group Berhad, Smart Card IT Solutions Ltd., NXP Semiconductors NV, ON Semiconductor Corp., STMicroelectronics, Imatric LLC, Toshiba Corporation, Shanghai HuaHong Integrated Circuit, Broadcom Inc., CPI Card Group, Eastcompeace, Tongxin Microelectronics Co. Ltd., JCB Co. Ltd., Protolab Electrotechnologies Pvt. Ltd., Sony Corporation, Texas Instruments, Inc. and Analog Devices, Inc.
In March 2023, NXP announced the launch of PN7642. The new one-chip solution combines a low-power Arm Cortex M33-based microcontroller, NFC front end, and a SESIP-certified security system. The PN7642 features a High output power of 2W and Integrated DC/DC allows a single 3.3V supply with max Tx power.
In Jan 2023, Infineon joined hands with Sentry Enterprises, a technology company. The collaboration focuses on powering cold storage crypto wallets and biometric access control platforms.
• Other Types
• Dual Interface
• Financial Cards
• ID cards
• IoT Devices
• Other Applications
End Users Covered:
• Government & Healthcare
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Smart Card Integrated Circuit (IC) Market, By Type
5.4 Other Types
6 Global Smart Card Integrated Circuit (IC) Market, By Architecture
7 Global Smart Card Integrated Circuit (IC) Market, By Interface
7.2 Dual Interface
8 Global Smart Card Integrated Circuit (IC) Market, By Application
8.2 Financial Cards
8.2.1 Debit Cards
8.2.2 Credit Cards
8.3 ID cards
8.3.2 Citizen ID
8.3.3 Employee ID
8.3.4 Driving License
8.5 IoT Devices
8.6 Other Applications
9 Global Smart Card Integrated Circuit (IC) Market, By End User
9.5 Government & Healthcare
9.7 Other End Users
10 Global Smart Card Integrated Circuit (IC) Market, By Geography
10.2 North America
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.5 Other Key Strategies
12 Company Profiling
12.1 Infineon Technologies AG
12.2 Microchip Technology Inc.
12.3 Samsung Electronics Co. Ltd.
12.4 Datasonic Group Berhad
12.5 Smart Card IT Solutions Ltd.
12.6 NXP Semiconductors NV
12.7 ON Semiconductor Corp.
12.9 Imatric LLC
12.10 Toshiba Corporation
12.11 Shanghai HuaHong Integrated Circuit
12.12 Broadcom Inc.
12.13 CPI Card Group
12.15 Tongxin Microelectronics Co. Ltd.
12.16 JCB Co. Ltd.
12.17 Protolab Electrotechnologies Pvt. Ltd.
12.18 Sony Corporation
12.19 Texas Instruments, Inc.
12.20 Analog Devices, Inc.
List of Tables
1 Global Smart Card Integrated Circuit (IC) Market Outlook, By Region (2021-2030) ($MN)
2 Global Smart Card Integrated Circuit (IC) Market Outlook, By Type (2021-2030) ($MN)
3 Global Smart Card Integrated Circuit (IC) Market Outlook, By Memory (2021-2030) ($MN)
4 Global Smart Card Integrated Circuit (IC) Market Outlook, By Microcontroller (2021-2030) ($MN)
5 Global Smart Card Integrated Circuit (IC) Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Smart Card Integrated Circuit (IC) Market Outlook, By Architecture (2021-2030) ($MN)
7 Global Smart Card Integrated Circuit (IC) Market Outlook, By 32-bit (2021-2030) ($MN)
8 Global Smart Card Integrated Circuit (IC) Market Outlook, By 16-bit (2021-2030) ($MN)
9 Global Smart Card Integrated Circuit (IC) Market Outlook, By Interface (2021-2030) ($MN)
10 Global Smart Card Integrated Circuit (IC) Market Outlook, By Dual Interface (2021-2030) ($MN)
11 Global Smart Card Integrated Circuit (IC) Market Outlook, By Contactless (2021-2030) ($MN)
12 Global Smart Card Integrated Circuit (IC) Market Outlook, By Contact (2021-2030) ($MN)
13 Global Smart Card Integrated Circuit (IC) Market Outlook, By Application (2021-2030) ($MN)
14 Global Smart Card Integrated Circuit (IC) Market Outlook, By Financial Cards (2021-2030) ($MN)
15 Global Smart Card Integrated Circuit (IC) Market Outlook, By Debit Cards (2021-2030) ($MN)
16 Global Smart Card Integrated Circuit (IC) Market Outlook, By Credit Cards (2021-2030) ($MN)
17 Global Smart Card Integrated Circuit (IC) Market Outlook, By ID cards (2021-2030) ($MN)
18 Global Smart Card Integrated Circuit (IC) Market Outlook, By ePassport (2021-2030) ($MN)
19 Global Smart Card Integrated Circuit (IC) Market Outlook, By Citizen ID (2021-2030) ($MN)
20 Global Smart Card Integrated Circuit (IC) Market Outlook, By Employee ID (2021-2030) ($MN)
21 Global Smart Card Integrated Circuit (IC) Market Outlook, By Driving License (2021-2030) ($MN)
22 Global Smart Card Integrated Circuit (IC) Market Outlook, By USIMs/eSIMs (2021-2030) ($MN)
23 Global Smart Card Integrated Circuit (IC) Market Outlook, By IoT Devices (2021-2030) ($MN)
24 Global Smart Card Integrated Circuit (IC) Market Outlook, By Other Applications (2021-2030) ($MN)
25 Global Smart Card Integrated Circuit (IC) Market Outlook, By End User (2021-2030) ($MN)
26 Global Smart Card Integrated Circuit (IC) Market Outlook, By Transportation (2021-2030) ($MN)
27 Global Smart Card Integrated Circuit (IC) Market Outlook, By Retail (2021-2030) ($MN)
28 Global Smart Card Integrated Circuit (IC) Market Outlook, By Telecommunications (2021-2030) ($MN)
29 Global Smart Card Integrated Circuit (IC) Market Outlook, By Government & Healthcare (2021-2030) ($MN)
30 Global Smart Card Integrated Circuit (IC) Market Outlook, By Education (2021-2030) ($MN)
31 Global Smart Card Integrated Circuit (IC) Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
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