This report provides exclusive insights into the COVID-19 impact on the Smart Card IC Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Smart Card IC Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Smart Card IC Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on smart card IC market provides in-depth analysis of
segments and sub-segments in the global as well as regional smart card IC
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional smart card IC market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of global smart card IC market. According to the
report, the global smart card IC market is projected to grow at a CAGR of 4.7%
over the forecast period of 2019-2025.
Modern society is advancing from
the use of connected mobile devices and chip-based smart cards for cashless
payment applications. Smart card IC is a technology-intensive industry. Banks
in several countries such as China have announced all banking cards in China
would migrate to smart cards due to which the demand for the smart card has a
rapid development in recent two years. With the development of production and
technology, Chinese communications operators gradually shift to the
manufacturers. The development of smart card IC that can provide more security
and integration of smart cards with biometrics is the emerging trend that has a
direct impact on the dynamics of the smart card IC industry.
Increasing usage of smart cards in
payment and banking industries is the major driving factor for the smart card
IC market. Smart cards contain unique features that bring many benefits to both
consumers and issuing organizations that led to a rise in demand for smart card
IC. Furthermore, factors such as growing demand for contactless smart cards and
increasing adoption of electronic identification cards for various e-governance
projects are other driving factors for the smart card IC market. The demand for
smart card IC is rising due to its benefits such as speed, ease of use, and
versatility. However, slow adoption and security concerns related to smart card
IC are restraining the growth of the market. Moreover, increasing usage in
telecommunication, payment and banking, transportation, and e-government
sectors are expected to provide growth opportunities to the market players.
dominates the global smart card IC market owing to the growing demand for
smartphones in China and India. The government of various Asian countries
mandates smart card IC in national ID cards, driving licenses, and other government
identification cards that expected to drive the growth of the market in the
The report on global smart card IC
market covers segments such as card type, interface, and end-use industry. On
the basis of card type, the sub-markets include microcontroller, and memory. On
the basis of interface, the sub-markets include contact, and contactless. On
the basis of end-use industry, the sub-markets include e-government,
telecommunication, payment and banking, and other end-use industries.
The report provides profiles of
the companies in the market such as EM Microelectronic-Marin SA, Infineon
Technologies AG, Atmel Corporation, NXP Semiconductors N.V., CEC Huada
Electronic Design Co., Ltd., On Semiconductor Corporation, Shanghai Huahong
Integrated Circuit Co., Ltd., STMicroelectronics, Samsung, Renesas Electronics
Corporation, and other companies.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of smart card IC market. Moreover, the study highlights current market
trends and provides forecast from 2019-2025. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.