Smart Card Industry 2018 Functionalities and Configuration, Evolving and Viable Technology with a Wide Range of Applications
Oct 10, 2018
This market research report on the global smart card market 2018-2025, provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
Dallas, United States - October 10, 2018 /MarketersMedia/ —
The global smart card market size was valued at xx million in 2017, and estimated to reach xx million by 2025 with a CAGR of xx%. The smart card market is expected to see constant growth due to the wide usage in the retail and BFSI market. Technological advancements, falling prices, and the introduction of high-end SIMs offer potential opportunities for the growth of the smart card market.
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Due to the increasing demand for products across various applications, such as cell phone ID, payment transactions, access controls, and ID verification is presumed to favor the market growth over the forecast period. Smart cards are used in several applications including the retail, government, hospitality sectors, and healthcare, promoting the market demand over the forecast period by providing efficient payment transactions, effective data storage, and faster processing time.
Smart cards are plastic cards which have a built-in microprocessor, which is usually used for making financial transactions. Smart cards are IC-based cards that accumulate and retrieve information using various computer systems. Smart cards consist of central processing units and memory units. Smart cards are the most cost effective way of managing, storing and maintaining one’s credentials. Because of the on-growing technology, smart cards have become one of the integral parts of the financial transaction.
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The portability of smart cards enables their extensive adoption. Also, the growing use of IoT devices and mobile phones has further increased the use of SIM and data chips, which has augmented the demand for smart cards. Companies such as MasterCard, Europay, and Visa are also offering various cost-saving techniques to ease and boost the tractions. The key competitors in the smart card market are GmbH, Gemalto NV, Giesecke & Devrient (G&D) NXP Semiconductors, and Infineon Technologies AG.
In the geographical segment, Latin America was the second lowest revenue generator in 2014. Currently, Latin America shows over 70% of smart card market presentation by smart card solutions and services, as per Smart Card Alliance Organization. Developing countries in the Asia Pacific such as Japan, Hong Kong, South Africa, and Australia are the chief destinations preferred by the regional and the global smart cards solutions providers. Rapid economic development in India and China is also showing high smart card implementation.
Global Smart Card Market Size by Type (Contact, Contactless, Dual Interface and Hybrid), By Application (Payment & Banking, Government & Healthcare, Telecommunication and Device Manufacturing), By Region and Forecast 2018 to 2025
The global smart card market size was valued at xx million in 2017, and estimated to reach xx million by 2025 with a CAGR of xx%. The smart card market is expected to see constant growth due to the wide usage in the retail and BFSI market. Technological advancements, falling prices, and the introduction of high-end SIMs offer potential opportunities for the growth of the smart card market.
Due to the increasing demand for products across various applications, such as cell phone ID, payment transactions, access controls, and ID verification is presumed to favor the market growth over the forecast period. Smart cards are used in several applications including the retail, government, hospitality sectors, and healthcare, promoting the market demand over the forecast period by providing efficient payment transactions, effective data storage, and faster processing time.
Smart cards are plastic cards which have a built-in microprocessor, which is usually used for making financial transactions. Smart cards are IC-based cards that accumulate and retrieve information using various computer systems. Smart cards consist of central processing units and memory units. Smart cards are the most cost effective way of managing, storing and maintaining one’s credentials. Because of the on-growing technology, smart cards have become one of the integral parts of the financial transaction.
The portability of smart cards enables their extensive adoption. Also, the growing use of IoT devices and mobile phones has further increased the use of SIM and data chips, which has augmented the demand for smart cards. Companies such as MasterCard, Europay, and Visa are also offering various cost-saving techniques to ease and boost the tractions. The key competitors in the smart card market are GmbH, Gemalto NV, Giesecke & Devrient (G&D) NXP Semiconductors, and Infineon Technologies AG.
In the geographical segment, Latin America was the second lowest revenue generator in 2014. Currently, Latin America shows over 70% of smart card market presentation by smart card solutions and services, as per Smart Card Alliance Organization. Developing countries in the Asia Pacific such as Japan, Hong Kong, South Africa, and Australia are the chief destinations preferred by the regional and the global smart cards solutions providers. Rapid economic development in India and China is also showing high smart card implementation.
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Key Segments of the Global Smart Card Market
Type Overview, 2015-2025 (USD Million) (Million Units)
Contact
Contactless
Dual Interface
Hybrid
Application Overview, 2015-2025 (USD Million) (Million Units)
Payment & Banking
Government & Healthcare
Telecommunication
Device Manufacturing
Others
Regional Overview, 2015-2025 (USD Million) (Million Units)
North America
Europe
Asia Pacific
Rest of the World
About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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Source: MarketersMedia
Release ID: 420532
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