Smart Card IC Market by Microprocessor Architecture, Application, and Geography - Forecast and Analysis 2020-2024

  • Published: Aug 2020
  • Pages: 120
  • SKU: IRTNTR44718
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The smart card IC market size has the potential to grow by USD 1.82 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by microprocessor architecture (16-bit and 32-bit), application (telecommunication, financial, government, transportation, and others), and geography (APAC, Europe, North America, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Broadcom Inc., Imatric LLC, Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., Samsung Electronics Co. Ltd., STMicroelectronics NV, Tongxin Microelectronics Co. Ltd., and Toshiba Corp.

What will the Smart Card IC Market Size be in 2020?

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Who are the Major Smart Card IC Vendors?

The market is fragmented. Since there are a lot of growth opportunities in this market, especially in developing regions, such as APAC and MEA, the vendors need to try reaching new customers in these regions to increase their market share and get a stronghold in the market during the forecast period. Broadcom Inc., Imatric LLC, and Infineon Technologies AG are some of the major market participants. Although the growing demand for contactless smart cards will offer immense growth opportunities, the threat to data security will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this smart card IC market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this smart card IC market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Broadcom Inc.
  • Imatric LLC  
  • Infineon Technologies AG
  • Microchip Technology Inc.
  • NXP Semiconductors NV
  • ON Semiconductor Corp.
  • Samsung Electronics Co. Ltd.
  • STMicroelectronics NV
  • Tongxin Microelectronics Co. Ltd.
  • Toshiba Corp.

Which are the Key Markets for Smart Card IC?

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APAC was the largest smart card IC market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as high growth potential, growing end-user industries, and an influx of small and medium-sized enterprises (SMEs) will significantly drive smart card IC market growth in this region over the forecast period.

53% of the market’s growth will originate from APAC during the forecast period. China, Taiwan, and Japan are the key markets for smart card ICs in APAC. Market growth in this region will be faster than the growth of the market in other regions.

What are the Major Microprocessor Architecture Segments in the Smart Card IC Market?

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NXP and Texas Instruments are a few of the vendors that offer 16-bit smart card ICs. The adoption of 16-bit smart card ICs is high in the current market scenario, owing to their low cost. However, the smart card IC market share growth by the 16-bit segment will be slower than the growth of the market by the 32-bit segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the smart card IC market size.

How will Contactless Smart Cards Influence Smart Card IC Market Growth?

Contactless smart cards with RF technology are gaining popularity because of their benefits such as ease of use, speed, and versatility. The popularity of cashless payment solutions and e-passports is also driving the use of contactless smart cards. Axis Bank Ltd. has already launched open-loop EMV contactless smart cards in India that help merchants in facilitating cashless transactions. The application of these cards is also gaining prevalence in public transportation services for cashless payment. As smart cards have chips integrated with sensors, the growing demand for contactless smart cards will be a major factor driving smart card integrated circuit market growth during 2020-2024.

Furthermore, upcoming smart card IC market trends such as the integration of smart cards with blockchain will contribute to market growth. Smart cards consist of ICs that store data and are embedded with microprocessors to enable smooth transactions. This drives the need for the integration of smart cards with blockchain technology to embed standard security requirements to store, generate, and manage user cryptographic keys in smart card ICs. Additionally, blockchain can protect data in microprocessors, RAMs, and crypto-coprocessors in smartcard ICs. Several companies are offering blockchain solutions to aid enterprises in securing their smart card ICs. For instance, the blockchain solution offered by Infineon Technologies AG helps enterprises in ensuring security in blockchain system design for smart cards. With such solutions providing additional security for smart cards, the adoption of smart cards will increase. This will subsequently fuel smart card ICs market growth at a CAGR of almost 8% during the forecast period.

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What are the Key Factors Covered in this Smart Card IC Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive smart card IC market growth during the next five years
  • Precise estimation of the smart card IC market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart card IC industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart card IC market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Telecommunication - Market size and forecast 2019-2024
  • Financial - Market size and forecast 2019-2024
  • Government - Market size and forecast 2019-2024
  • Transportation - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Application

Market Segmentation by microprocessor architecture

  • Market segments
  • Comparison by microprocessor architecture
  • 16-bit - Market size and forecast 2019-2024
  • 32-bit - Market size and forecast 2019-2024
  • Market opportunity by microprocessor architecture

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Broadcom Inc.
  • Imatric LLC  
  • Infineon Technologies AG
  • Microchip Technology Inc.
  • NXP Semiconductors NV
  • ON Semiconductor Corp.
  • Samsung Electronics Co. Ltd.
  • STMicroelectronics NV
  • Tongxin Microelectronics Co. Ltd.
  • Toshiba Corp.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The smart card ic market growth will increase by $1822.93 million during 2019-2024.
The smart card ic market is expected to grow at a CAGR of 7.77% during 2019-2024.
Technavio has segmented the smart card ic market by other1 (16-bit and 32-bit) ,application (Telecommunication, Financial, Government, Transportation, and Others) , and geographic (APAC, Europe, North America, South America, and MEA).
Broadcom Inc., Imatric LLC  , Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp., Samsung Electronics Co. Ltd., STMicroelectronics NV, Tongxin Microelectronics Co. Ltd., Toshiba Corp. are a few of the key vendors in the smart card ic market.
APAC will register the highest growth rate of 53.25% among the other regions. Therefore, the smart card ic market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Germany
  • Taiwan
  • Switzerland
  • Japan
The key factors driving the smart card ic market growth are:
  • Growing demand for electronic ID cards
The smart card ic market vendors should focus on grabbing business opportunities from the 16-bit segment as it accounted for the largest market share in the base year.
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