Smartcard MCU Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product (8-bit, 16-bit, 32-bit), By Offerings (Smart Card, Smart Card Readers), By Functionality (Transaction, Communication, Security & Access Control), By End-User Industry (BFSI, Telecommunications, Government and Healthcare, Education, Retail, Transportation) By Region
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSmartcard MCU Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product (8-bit, 16-bit, 32-bit), By Offerings (Smart Card, Smart Card Readers), By Functionality (Transaction, Communication, Security & Access Control), By End-User Industry (BFSI, Telecommunications, Government and Healthcare, Education, Retail, Transportation) By Region
Global Smartcard MCU market is predicted to develop at a rapid pace throughout the forecast period. Smartcard MCU (Microcontroller Unit) is a type of smart card that contains an embedded microcontroller chip. It is widely used in various applications such as payment cards, identity cards, access control cards, SIM cards, and healthcare cards. The global Smartcard MCU market is expected to witness significant growth in the coming years due to increasing demand for secure and efficient payment and authentication systems.
Throughout the projection period, the global smart card industry is expected to rise significantly. The smart card industry is growing due to factors such as increasing digitization, an increase in cashless transactions, and an increase in demand from the healthcare sector. However, hefty set-up costs, as well as data theft and security concerns, are important impediments to the worldwide smart card market. The smart card industry stands to gain from the enhanced user data security brought about by blockchain technology. Smart cards, by serving as a secure storage place for cryptographic keys, provide a reliable and efficient way of verifying transactions in a blockchain system.
Smart cards are utilized in a wide range of applications, including credit cards and other payment cards. These cards are typically used in applications that require safe, quick transactions while still protecting individual data, such as credit cards, various types of payment cards, government identity and corporate cards, and transit ticket payment cards. It is also occasionally used as a legal document, such as e-passports and visas.
Increased Demand for Secure Payment Systems
With the increasing trend towards cashless transactions, the demand for secure payment systems, such as Smartcard MCUs, is growing rapidly. These cards offer advanced security features such as encryption, digital signatures, and access control mechanisms that make them ideal for use in applications that require secure storage and data processing.
Government Initiatives and Regulations
Many governments around the world are implementing initiatives and regulations that require the use of Smartcard MCU technology for various applications, such as identity verification and access control. For instance, in India, the government has launched the Aadhaar program, which uses Smartcard MCUs for identity verification purposes. Similarly, in Europe, the European Union has mandated the use of Smartcard MCU technology for various applications, including electronic identification, healthcare, and electronic signatures.
Growing Adoption of IoT
The Internet of Things (IoT) is driving the adoption of Smartcard MCU technology in applications such as transportation, healthcare, and retail, as it enables secure and efficient data transfer between devices. Smartcard MCUs can be embedded in various devices and used for authentication and secure data storage.
Advancements in Technology
The development of new technologies, such as contactless payment systems and biometric authentication, is driving the adoption of Smartcard MCU technology as a more secure and efficient alternative to traditional payment methods. Contactless payment systems allow users to make payments without physically inserting their card into a payment terminal, while biometric authentication enables users to authenticate their identity using biometric data such as fingerprints, facial recognition, or iris scans.
Challenges for Global Smartcard MCU Market
The global Smartcard MCU market faces numerous impediments that may hamper its growth, such as the elevated cost of the technology when compared to other payment methods, security apprehensions, and the necessity for recurrent revisions in security protocols. Furthermore, there exist compatibility problems with certain devices and systems, restricted storage capacity for applications that necessitate massive storage spaces, a sophisticated implementation that necessitates specialized information and skill, and rivalry from alternative technologies including mobile payment systems, biometric authentication, and blockchain-based solutions.
Recent Developments
- S3B512C, a new fingerprintsecurity IC (integrated circuit) with increased security capabilities, wasreleased by Samsung Electronics in January 2022. The new solution is EMVCo andCommon Criteria Evaluation Assurance Level (CC EAL) 6+ certified, and itadheres to Mastercard's most recent Biometric Evaluation Plan Summary (BEPS)criteria for biometric payment cards.
- Veeco Instruments Inc.(NASDAQVECO) announced the acquisition of Epiluvac AB, a privately heldmanufacturer of chemical vapour deposition (CVD) epitaxy systems for advancedsilicon carbide (SiC) applications in the electric vehicle sector, on January31, 2023. Epiluvac, situated in Sweden, was created in 2013 by a highly skilledSiC team. Epiluvac's technological platform paired with Veeco's worldwidego-to-market capabilities created a substantial long-term growth engine forVeeco.
- In Feb 2023, ING Groep NVacquired its position in Microchip Technologies Incorporated (NASDAQMCHP -Get Rating) by 27.3% during the third quarter. The fund held 176,772 shares ofthe semiconductor company's stock after acquiring an additional 37,940 sharesduring the quarter. At the conclusion of the most recent quarter, ING GroepNV's holdings in Microchip Technologies were worth $10,788,000.
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Market Segmentation
Company Profiles
Cardlogix Corporation, Cpi Card Group Inc, Giesecke+Devrient Gmbh, Infineon Technologies AG, STMicroelectronics, Veeco Instruments Inc, Microchip Technology Inc, Texas Instruments Incorporated, Maxim Integrated, Ferrotec Holdings Corporation,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | By Product By Offerings By Functionality By Region |
| Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa and South America |
| Country Scope | China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, Brazil, Argentina, Colombia |
| Cardlogix Corporation, Cpi Card Group Inc, Giesecke+Devrient Gmbh, Infineon Technologies AG, STMicroelectronics, Veeco Instruments Inc, Microchip Technology Inc, Texas Instruments Incorporated, Maxim Integrated, Ferrotec Holdings Corporation. | |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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