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 primarily act as a cost-effective way to
store, manage, and maintain credentials for their users. This makes
these products highly convenient for different applications. In
addition, the portability of smart cards enables their extensive
adoption across different applications. Currently, smart cards are
widely used across sectors such as telecommunications, BFSI, and
government. Due to the numerous advantages they offer, smart cards
are increasingly used in the healthcare, government IDs
(e-passports), and retail sectors. Thus, strong ongoing adoption of
smart cards across different sectors is estimated to substantially
spur the market’s growth in the coming years.
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Research Report @
The research study
titled “Smart Cards Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2016 - 2023” provides in-depth
analysis of the market and related sub-segments. The report
strategically focuses on market segments including different types of
smart cards and components. In addition, this report provides market
insights and forecasts of the size and growth of each segment across
each of the geographic regions. The report includes detailed analysis
of prevalent market trends and profiles of key players. In order to
provide better understanding of competition in the market, the report
offers ecosystem analysis and competitive landscape. The study on the
global smart cards market has been conducted with the objective of
providing thorough coverage of the underlying technological and
socio-economic factors driving the market.
The smart cards
market is expected to see consistent growth in the coming years due
to the increasing demand for secure and reliable payment transactions
across the retail and BFSI sectors. Moreover, cost-saving schemes for
merchants from payments brands such as Visa, MasterCard, and Europay
is driving the smart card technology innovations. The decreasing
prices of subscriber identification module (SIM) cards and tariff
rates are increasing the number of mobile subscribers, and thus
further contributing to the growth of the smart cards market.
However, factors such as price pressures and technological challenges
along with the cost of migrating to smartcard compatible readers
affect the adoption of smartcards. Conversely, technological
advancements, falling prices, and the introduction of high-end SIMs
offer potential opportunities for the growth of the smart cards
market.
This report studies
the current scenario as well as the future market potential for smart
cards globally. The market for smart cards has been segmented based
on three major parameters: card type, components, and geography. The
major types of smart cards used are contact smart cards, contactless
smart cards, hybrid smart cards, and dual-interface smart cards. On
the basis of components, the smart cards market is segmented into
microcontroller-based smart cards and memory-based smart cards. The
demand for microcontroller-based smart cards is significantly high
owing to the wide adoption of such cards for contactless and
dual-interface smart cards. The market size and forecast, in terms of
revenue and volume (US$ Mn & Mn units), for each of these
segments has been provided for the period from 2013 to 2023,
considering 2013 and 2014 as the base years. For 2015, report
provides actual data for the first half and estimate for the second
half. Also, the report provides market size and forecast in terms of
volume (Mn Units) for various segments for the above mentioned
period. The report also provides the compounded annual growth rate
(CAGR) for each segment of the market for the forecast period 2016 to
2023.
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Geographically, the
market for global smart cards has been segmented into four regions:
North America, Europe, Asia Pacific, and Rest of the World. The
report also provides a competitive landscape, wherein the market
share analysis of leading players in the global smart cards market
for the year 2014, in terms of value percentage, has been discussed.
The report concludes with the company profiles section, which
provides an overview of the major companies operating in the market
including strategies deployed by them to gain competitive advantage,
annual revenue generated by them in the past two years, and key
developments in the market. The companies profiled in this report
include the American Express Company, Atos SE, NXP Semiconductors NV,
Infineon Technologies AG, Gemalto NV, INSIDE Secure, Giesecke &
Devrient (G&D) GmbH, and Texas Instruments, Inc.
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