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According to the latest report by IMARC Group, titled “ Smart Card IC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-20 28
” the global smart card IC market reached a strong growth in 2022.
A smart card integrated circuit (IC), also known as a chip card, is embedded in a plastic card and serves as a service token for storing and transacting data between users. It is associated with value and information and stored and processed within memory and microprocessor card chip. It is commonly available in microcontroller and memory variants. Among these, the microcontroller smart card IC comprises a central processing unit (CPU), crystal oscillator, timers, watchdog, and analog input and output. It helps reduce the complexity, costs, size of circuits, and discrete components in embedded systems. On the other hand, the memory smart card IC is dependent on the card reader for their processing and suitable for uses wherein the card performs a fixed operation.
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The increasing adoption of cashless transactions on account of rapid digitization, rising sales of smartphones and high-speed internet connectivity represents one of the key factors driving the demand for smart card IC around the world. Moreover, there is an increase in the number of debit and credit card users as they provide secured transactions and security. This, coupled with cashbacks and discount vouchers offered by banks of numerous countries to small and medium-sized merchants for encouraging digital transactions. In addition, the rising number of e-commerce websites and increasing preferences for online shopping is driving the adoption of smart card IC worldwide. Apart from this, the growing adoption of smart employee identification (ID) cards in small and mediumscale enterprises (SMEs) for securing access to physical facilities and computer systems and networks is influencing the market positively. Furthermore, the increasing use of contactless smart card IC for public transportation is contributing to the market growth. Besides this, the rising use of smart card IC in the healthcare industry to manage patient identity, provide practitioners and pharmacists secure access to their medical records and reduce fraud is strengthening the growth of the market. Additionally, the increasing use of smart card IC in eSIM or SIM for various internet of things (IoT) devices to authenticate user identity and store data is creating a positive outlook for the market.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Type Insights:
• Microcontroller
• Memory
Interface Insights:
• Contact
• Contactless
• Dual Interface
Architecture Type Insights:
• 16-Bit
• 32-Bit
• Others
Application Insights:
• USIM/eSIMs
• ID Cards
• Employee ID
• Citizen ID
• E-Passport
• Driving License
• Financial Cards
• Credit Cards
• Debit Cards
• IoT Devices
End Use Industry Insights:
• E-Government
• Telecommunication
• Transportation
• Payment and Banking
• Others
Regional Insights:
• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Note: We are updating our reports, If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report.
Competitive Landscape with Key Players:
CardLogix Corporation
CEC Huada Electronic Design Co. Ltd.
Eastcompeace Technology Co. Ltd.
Imatric LLC
On Semiconductor Corporation
Shanghai Fudan Microelectronics Group Co. Ltd.
SONY Group Corporation
STMicroelectronics N.V.
Texas Instruments Incorporated
Toshiba Corporation
Watchdata Technologies Pte Ltd.
Kindly note that this only represents a partial list of companies
• the complete list has been provided in the report
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/smart-card-ic-market
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