The application area of integrated circuit technology has advanced from electronic devices to compact cards that can accumulate and retrieve important information using computer systems. Smart cards are pocket-sized cards embedded with integrated circuit chip and majorly used for authentication, application processing, personal identification, and data storage. Currently, the global Smart Cards Market is anticipated to expand at a significant growth rate in the forthcoming years. The widespread application of smart cards in retail, healthcare, hospitality and government sector are majorly driving the global smart cards market. The conversion of conventional debit and credit cards into smart cards have made payment options and financial transactions easier and more convenient for users. Increasing adoption of smart cards in government IDs (e-passports) and also to manage and maintain the credentials of the users as well as extensive use of smart cards in subscriber identification module (SIM) cards in the telecommunication sector are some other factors that are propelling the growth of the global smart cards market.
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This MRFR report delivers an unbiased analysis of key market trends in the global smart cards market. It includes a detailed discussion on current market status, historical trends, challenges and growth opportunities backed by fact-based feedbacks. The primary types of smart cards that have been assessed in the report include contact, contactless, hybrid and dual-interface smart cards. The components that are covered in the report are hardware, smart cards, readers, software, services and others. For the analysis of growth opportunities, the application areas that are covered in the report are healthcare, government, BSFI, retail, transportation and others. All the sub-markets that are included in the report are profiled under four major regions such as Europe, Asia Pacific, North America and the rest of the world with respective country-level analysis.
Rambus Inc. (the U.S.), CardLogix Corporation (the U.S.), CPI Card Group Inc. (the U.S.), Identiv, Inc. (the U.S.), VeriFone Systems, Inc. (the U.S.), Gemalto N.V. (Netherlands), Giesecke & Devrient GmbH (Germany), IDEMIA France SAS (France), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), HID Global Corporation (Sweden), STMicroelectronics NV (Switzerland), ZWIPE (Norway), Versasec AB (Sweden), Ingenico Group SA (France), Beijing Watchdata Co. Ltd. (China), , KONA I Co., Ltd. (South Korea), VALID (Brazil), Fingerprint Cards AB (Sweden), BrilliantTS Co. Ltd. (South Korea), Bitel Co. Ltd. (South Korea), Fujian Newland Computer Co., Ltd. (China), Sony Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), and PAX Global Technology Ltd. (Hong Kong).
MRFR leverages its vast industry expertise for the deliverance of qualitative and quantitative analysis of current market trends, opportunities and challenges in the market. MRFR’s proven research algorithms aids in comparative assessment of fundamental market divergences to provide highly accurate view of market. The combination of primary and secondary research methods ensures objectivity and rich quality of market insights. The collection of primary data is carried out by conducting surveys and first-hand interviews with key opinion makers across the value chain. Secondary research process verifies the authenticity and accuracy of primary data through inputs from SEC filings, white paper references, research publications, paid databases and other credible sources available in public domain. The collaborative top-down and bottom-up approaches combined with strong data triangulation method are utilized for multi-layered verification of collected data which assists business organizations in making impactful business decisions.
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The global smart cards market has been segmented based on type, component, and application. By type, the market has been segmented into contact, contactless, hybrid, and dual-interface. By component, the market has been segmented into hardware, smart cards, readers, software, and services. By application, the market has been segmented into government, healthcare, BFSI, retail, transportation, education, entertainment, and enterprises.
The key markets of the global smart cards market include North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is a significant growth pocket for the global smart cards market. The rapid adoption of new technology, the concentration of major players in the region supports the growth of the market. The US Department of Defense uses smart cards in their Common Access Card (CAC) and other cards for two- or three-factor authentication. The Europe market for smart cards is also strong, and the region uses smart cards for various applications. Smart cards are mandated by UK’s Department for Transport. Asia Pacific market is driven by the rapid digitization in the region.
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