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The Global Smart Card IC Market is expected to grow at a rate of 6.3% over the forecast period from 2023 to 2030. Smart card ICs, also known as smart card chips, are small electronic devices used in various applications such as mobile phones, e-governance initiatives, and payment and banking industries. The market is driven by the increasing adoption of contactless payments, rising use of IoT devices, and government initiatives for chip-based ID cards. However, security concerns related to embedded Subscriber Identity Modules (eSIM) may hinder market growth.