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″ https://www.lucintel.com/smart-card-ic-market.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 smart card IC market is categorized into three interface types: contact, contactless, and others. The contactless interface will be the largest interface type, as it provides more storage, speed, convenience, and secure reading and writing of data.
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.
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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.
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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
This 137-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or know more about the Global Smart Card IC Market @ https://www.lucintel.com/toc/smart-card-ic-market.aspx or firstname.lastname@example.org
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This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global smart card IC market 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)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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