Global Smart Card IC Market was valued at US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027 at a CAGR of XX % during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Smart Card IC MarketGlobal Smart Card IC Market Dynamics:
The future of the smart card integrated circuit (IC) market looks great with opportunities in telecommunication, payment and banking, transportation, e-government, and others. The key drivers for the growth of the market are increasing usage of Subscriber Identification Module (SIM) cards for mobile phones, increasing adoption of electronic identification cards for various e-governance projects, and increasing usage of smart cards in payment and banking industries.
Global Smart Card IC Market Segment Analysis:
In the market, microcontrollers and memory are used for smart card IC manufacturing for the card type. Maximize forecasts that 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 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 of subscriber identity modules (SIM) cards for mobile phones.
Global Smart Card IC Market Regional Insights:
The 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.
The report analyzes the potency of buyers & suppliers, threat of substitute products, and new entrants based on Porter’s five force model. The bargaining power of suppliers is low as the buyers are government organizations that have higher negotiating power in the market. The potency of buyers is high as they are knowledgeable about the requirements of security at ports.
Moreover, there are multiple suppliers in the market and buyers can easily switch to other suppliers at minimal switching cost. The threat of substitute products is high as companies are constantly developing new solutions and services. The market requires high technical expertise and capital investment; therefore, the threat of new entrants is low. Companies are involved in partnerships and collaborations to share technical expertise, which minimizes the intensity of rivalry in the market. The key investment pockets are analyzed based on the market valuations of each segment.
The objective of the report is to present a comprehensive assessment of the market and contain insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by product type, end-user, and region and, projects the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the smart card IC market.
Scope of the Global Smart Card IC Market Report:
Global Smart Card IC Market, by Card Type
Global Smart Card IC Market, by Interface
Global Smart Card IC Market, by End-Use Industry
• Payment and Banking
Global Smart Card IC Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in the Global Smart Card IC Market:
• CEC Huada Electronic Design Co., Ltd.
• EM Microelectronic-Marin SA
• Infineon Technologies AG
• NXP Semiconductors N.V.
• On Semiconductor Corporation
• CEC Huada Electronic Design Co. Ltd
• Renesas Electronics
• Shanghai HuaHong Integrated Circuit
• Broadcom Inc.
• Imatric LLC
• Microchip Technology Inc
• Tongxin Microelectronics Co. Ltd.
• Toshiba Corp.
• CPI Card Group
• Morpho (Safran)
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.