Smart Card IC Market by Type (Microprocessor, Memory), Architecture (16-bit, 32-bit), Interface, Application (USIMs/eSIMs, ID Cards, Financial Cards), End-user Industry (Telecommunications, BFSI) and Region - Global Forecast to 2027

Smart Card IC Market by Type (Microprocessor, Memory), Architecture (16-bit, 32-bit), Interface, Application (USIMs/eSIMs, ID Cards, Financial Cards), End-user Industry (Telecommunications, BFSI) and Region - Global Forecast to 2027

The global smart card IC market is projected to reach USD 3.9 billion by 2027 from an estimated USD 2.9 billion in 2022, at a CAGR of 6.3% from 2022 to 2027. The growth of the smart card IC market can be attributed to the high demand for Subscriber Identity Modules (SIMs), Universal Subscriber Identity Modules (USIMs), and embedded Subscriber Identity Module (eSIMs) cards; secure ID cards; and financial cards from the ever-growing population and a gradual shift to digitalization and electrification.

“In 2022, USIMs/eSIMs segment captured the largest share of the smart card IC market”

In 2022, the USIMs/eSIMs segment captured the largest share of the smart card IC market, and a similar trend is likely to be observed throughout the forecast period. The growth of the segment can be attributed to the adoption of USIM/eSIM in consumer electronic devices such as smartphones, mobile phones, tablets, and smartwatches as well as IoT devices. Various smartphone manufacturing companies are working on eSIM technology to ingrate them with their latest smartphone series. For instance, Apple Inc. introduced eSIM technology in its third-generation iPad Pro, iPhone XS line, and will be integrating eSIM in all product lines of iPhone 14 series.

“In 2022, the telecommunications end-user industry captured the largest share of the smart card IC market”

In 2022, the telecommunications end-user industry accounted for the largest size of the smart card IC market, and a similar trend is likely to be observed during the forecast period. The high growth can be attributed to the technological developments such as adoption of 3G, 4G, and 5G technologies for fast and secure communication. Also, the emergence of eSIMs in smartphones is expected to increase in future. With technological developments, products such as smartphones, smartwatches, wearables, are also evolving to be compatible with the latest technologies. This is spurring the demand for smart card ICs.

“In 2022, Europe held the second-largest share of the overall smart card IC market”

Europe has witnessed rapid adoption of state-owned healthcare and health insurance systems than the most developed countries across the world. The European Commission has mandated the use of smart cards as a replacement to E-111 paper forms for cross-border healthcare services, which has led to the growth of the smart card IC market in Europe. In addition, the increasing adoption of contactless technology for retail transactions and access control are expected to accelerate the growth of the European smart card IC market. Hence, Europe held the second-largest share of the overall smart card IC market in 2022.

In-depth interviews have been conducted with chief executive officers (CEOs), directors, and other executives from various key organizations operating in the smart card IC marketplace.

By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 – 20%

By Designation: C-level Executives – 45%, Directors– 35%, and Others – 20%

By Region: North America – 20%, Europe – 40%, Asia Pacific – 30%, and RoW – 10%

Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherland), Samsung Electronics Co., Ltd. (South Korea), STMicroelectronics N.V. (Switzerland), Microchip Technology Incorporated (US), CEC Huada Electronic Design Co., Ltd. (China), Analog Devices, Inc. (US), Sony Group Corporation (Japan), Toshiba Corporation (Japan), and ON Semiconductor Corporation (US); are some of the key players in the smart card IC market.

The study includes an in-depth competitive analysis of these key players in the smart card IC market, with their company profiles, recent developments, and key market strategies.

Research Coverage

The report defines, describes, and forecasts the smart card IC market based on type, architecture, interface, application, end-user industry, and region. It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the smart card IC market. It also analyzes product launches, collaborations, partnerships, contracts, expansions, and acquisitions, carried out by the key players to grow in the market.

Key Benefits of Buying the Report

This report will help market leaders/new entrants in this industry with information on the closest approximations of the revenue numbers for the overall smart card IC market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.