Lucintel's latest market report analyzed that smart card IC provides attractive opportunities in telecommunication, payment and banking, transportation, e-government, and others. The smart card IC market is expected to reach $3.7 billion by 2025 with a CAGR of 2.6%. In this market, microcontroller is the largest segment by card type, whereas telecommunication is largest by end use industry. The development of smart card IC that can provide more security and integration of smart cards with biometrics provides strategic growth path in this market.
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Based on card type, the smart card IC market is segmented into microcontroller and memory. The microcontroller segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period due to as it enables secure payment facilities, authentication, and information storage for consumers.
Browse in-depth TOC on “Smart Card IC Market”
57 – Tables
74 – Figures
137 – Pages
The smart card IC market is marked by the presence of several big and small players. Some of the prominent players offering smart card IC include Infineon Technologies AG, NXP Semiconductor, Samsung Electronics, STMicroelectronics, and CEC Huada Electronic Design Co. Ltd and others.
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