The global smart card IC market to grow at a CAGR of 8.22% during the period 2017-2021.
Global Smart Card IC Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in the market is increase in number of financial frauds. The major driver for the global smart card IC market is the increasing number of financial across several countries. Most debit and credit cards use magnetic tapes to store data. These magnetic tapes are easily tampered, leading to insecure monetary transactions and monetary loss for users. Magnetic stripe cards can be subjected to frauds like card skimming. Card skimming is a technique wherein the details of the customer are stolen from the magnetic strip on the cards. This information can be used to forge duplicate cards and hence be used to make fraudulent transactions.
One trend in the market is SIM cards for M2M communication. An M2M SIM card is the technology that allows devices and machines to communicate with each other. In simpler terms, it is a SIM card that has been designed for machine use. Devices need to be equipped with interchangeable protocols that are necessary to receive and send data between devices.
Further, the report states that one challenge in the market is growth of net banking and mobile wallets. The growth of the online marketplace has compelled customers to opt for net banking and mobile wallets. Customers find net banking convenient and safe to transfer money online. Multiple users find it convenient to transfer money online using internet banking, as it is the safest way to make transactions. Banks provide these services with high levels of security, and most of B2B transactions are done through the internet banking at present. Several large companies use online payment methods to make bank transfers and not cards to make a payment. Key Market Trends
SIM cards for M2M communication
Integration of biometrics into smart card ICs
Growth of advanced POS systems
Growth of 5G communications
Other prominent vendors
Shanghai HuaHong Integrated Circuit
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Application
Part 07: Segmentation By Microprocessor Architecture