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 rising usage of SIMs and eSIMs in smartphones and rise in the contactless payments post COVID-19 outbreak.
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. These players have adopted various strategies, such as product launches, collaborations, contracts, acquisitions, expansions, and partnerships, to expand their presence globally and increase their shares in the global smart card IC market. Product launches have been the key players' most dominating strategy from 2019 to 2022 to help them broaden their customer base.
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Infineon Technologies AG
Infineon Technologies AG is a global leader which offers semiconductor and microelectronics solutions. The company is one of the largest manufacturers of security chips and antennae for payment cards, governments, consumer electronics, automotive, and IoT applications. It has a wide portfolio of smart card ICs, which are used for various eSIM, government identification, and credit and debit card applications. It is an established brand with a strong presence in all major regional markets.
NXP Semiconductors N.V.
NXP Semiconductors N.V. is a global leader in secure connectivity solutions for embedded applications. The company is a leading high-tech industrial player that offers smart card microcontrollers and related software platforms for government and healthcare, transportation, consumer electronics, and BFSI industries. The company is undertaking efforts to strengthen its position in the smart card IC market through product launches, collaborations, and contracts.
Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a leading semiconductor and electronics manufacturing company. The company is an end-to-end technology solution provider for consumer electronics, display solutions, and other technologies. The company constantly invests significantly in R&D to develop new and advanced product offerings. For instance, in 2021, Samsung Electronics Co., Ltd. significantly invested 8.1% of its total revenue, i.e., USD 18.1 billion, in R&D. The company operates through 228 subsidiaries located in the US, Europe, the Middle East & Africa, and Asia Pacific. It has a huge client base worldwide.
STMicroelectronics N.V. is one of the leading providers of semiconductor solutions that are used in smart driving, smart industry, smart home and city, and IoT applications. The company serves more than 200,000 customers across the world, with 80 sales and marketing offices in 35 countries. It has 14 manufacturing sites globally. Apple, Bosch, Continental, Delta Electronics, HP, Huawei, Intel-Mobileye, Samsung, Seagate, and Tesla are among the major customers of the company.
Microchip Technology Incorporated
Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions. The company invests significantly in R&D activities. For instance, in FY 2021, the company invested approximately 14.5% of its revenue (USD 1.0 billion) in R&D activities. Due to its high focus on R&D activities, Microchip Technology Incorporated capitalizes on the high-growth potential in the global smart card IC market.
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
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