The comprehensive global market reports by The Business Research Company have been freshly updated to include the latest market sizing information for the year 2023 and projected figures extending until 2032.

The global smart card IC market is anticipated to expand from $2.61 billion in 2022 to $2.81 billion in 2023, indicating a compound annual growth rate (CAGR) of 6.8%. This growth trajectory is expected to persist, with the global smart card IC market size reaching $3.67 billion by 2027, with a CAGR of 7%.

What will propel the smart card IC market?
The surge in contactless payments is projected to propel the advancement of the smart card IC market in the coming years.

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Who are the key players in the industry?
Prominent players in the smart card IC market encompass Infineon Technologies AG, NXP Semiconductors N.V, Samsung Group, STMicroelectronics, and CEC Huada Electronic Design Co Ltd., along with Toshiba Corporation.

Which trend is making waves in the smart card IC market?
Innovative product development is a prevailing trend that is gaining momentum in the smart card IC market. Leading entities within the smart card IC market are channeling their efforts towards creating novel products to fortify their position within the market. For instance, in June 2022, ST Microelectronics NV, a Switzerland-based company that specializes in designing and manufacturing a broad spectrum of electronic and electromechanical products, introduced the ST4SIM-201 embedded SIM (eSIM). This diminutive, secure, and flexible SIM card is tailored for machine-to-machine (M2M) communication. The ST4SIM-201 eSIM is designed to facilitate M2M communication across various applications such as smart meters, connected cars, and industrial automation. It is founded on the ST33J2M0 secure microcontroller, incorporating hardware-based security features to thwart cyber threats and unauthorized access. The eSIM also supports over-the-air (OTA) updates, enabling remote reconfiguration and updates without necessitating physical access.

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How is the smart card IC market segmented?

Global Smart Card IC Market Segments Include:

• By Type: Microcontroller, Memory
• By Architecture: 16-bit, 32-bit
• By Interface: Contact, Contactless, Dual Interface
• By Application: USIMs/e-SIMs, Id Cards, Financial Cards, Iot Devices
• By Industry: Telecommunications, BFSI, Government and Healthcare, Transportation, Education, Retail, Other Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global smart card IC market in 2022.

The Smart Card IC Global Market Report 2023  furnishes a comprehensive outlook on the smart card IC market across time series data, including historic years (2010 – 2021) and a ten-year forecast (2023 – 2032). The forecast delves deep into aspects such as smart card IC market size, smart card IC market share, and the prominent competitors along with their market standings.

A smart card IC (integrated circuit) is a microprocessor chip embedded within a smart card, a compact plastic card akin to the size and shape of a credit card. Smart cards possess the capacity to store and process data, enabling them to execute diverse functions like identification, authentication, access control, and payment.

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