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This industry research report identifies Infineon Technologies, NXP Semiconductors, SAMSUNG, and STMicroelectronics as the key vendors in the global smart card IC market. This industry research report also presents a detailed analysis of the market by application (telecommunication, financial, government, transportation, and others), by microprocessor architecture (16-bit and 32-bit), and by geography (the Americas, APAC, and EMEA).

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global smart card ic market trends analysis

Global Smart Card IC Market Trends, Analysis, And Forecast

To 2025

The elevated popularity of cashless payments is one of the major factors contributing to the growth of this

market. The popularity of digitalization and wide adoption of contactless EMV cards are another factors

propelling the growth of smart card IC market, globally.

As per this research analysis, growing penetration of mobile internet has boosted the use of payments using

mobile phones and tablets, which in turn, will increase the demand for smart EMV cards. The rise of e-

commerce and m-commerce segments has accelerated the need for cashless transactions which are carried

out through credit or debit cards. Such requirements increase the utility of EMV smart cards, subsequently

driving the market for smart card ICs.

However, increase in payment card-related frauds coupled with the issues related to supply chain has is

expected to hamper the growth of this market. In addition, sluggish rate of adoption of EMV POS terminals

is another factor that restricts the growth of this market. The market is being dominated by the regions like

EMEA and APAC regions.

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The mounting use of existing models like portable SIMs in wearable devices, smartphones, and tablets due

to boost in the IoT and M2M communications will further boost the growth of this market in the coming

years.

The global smart card IC sales market can be segmented on the basis of application and region. On the

basis of application, the global smart card IC sales market can be segmented into telecom, payment card

manufacturers, government and transportation. On the basis of region, the global smart card IC sales

market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin

America.

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Some of the key players in the global smart card IC market include Infineon Technologies AG, NXP

Semiconductors N.V., Samsung Semiconductor, Inc., STMicroelectronics and Shanghai Huahong

Integrated Circuit Co., Ltd.

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