Smart Card Market - Segmented by Type (Contact-based, Contact-less, Multi Component Cards), End User, and Region - Growth, Trends, and Forecast (2019 - 2024)

Smart Card Market - Segmented by Type (Contact-based, Contact-less, Multi Component Cards), End User, and Region - Growth, Trends, and Forecast (2019 - 2024)

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The smart card market is expected to register a CAGR of over 7.85% during the forecast period 2018 - 2023. The report profiles the companies providing Smart Card for various applications.

In the past decade, the information age has witnessed an array of security and privacy issues that have called for advanced smart card security applications. In addition to this, the advent of multifunction cards has allowed to manage network system access and store value and other data. Further, smart cards are safeguarding the private information of individuals and keeping their informational details safe from hacking and other unwanted intrusions.

The adoption of microprocessors incorporated cards, particularly in BFSI (EMV) and mobile phone devices (SIM cards), has led to falling costs through economies of scale. Furthermore, this has led to microprocessor cards becoming a lucrative option for innovators in the emerging markets, such as access control, E-passport, PKI, and multi applications where their cryptographic capabilities addresses the issues of security.

The growth in identity thefts can lead to data breach, which can be drastic for an organization, thus driving the demand for enhanced security and authentication solutions.

Travel Identity and Transportation is expected to Occupy Significant Market Share

Smart cards in transportation segment are gaining prominence as an alternative option for commuters to access and pay for transport services and has emerged as a viable option for many operators. The operators are also benefitting from the enhancement in speed and the flexibility of payment. In addition to this, the additional information on customers’ trips, their profile, and preferences for payment, may also open the way to offering customer-loyalty and reward schemes and a better understanding of the customer’s needs and journey patterns. Technological advancements have resulted in a single ticket card for multiple transport modes. In turn, this facilitates the multimodal travel behavior that is encouraged by operators and transport planners. In this regard, smart card ticketing promotes a genuinely seamless multimodal transport system. Apart from this, the growth of smart card penetration is expected to be pushed by the increasing incorporation in the subway transport systems across various countries.

China is expected to Have Substantial Growth

China is already using smart cards for various government initiatives. However, the surge in metro travelers is expected to play a significant role in the demand for smart cards in the country. The government is making a push toward streamlining bureaucracy by digitizing the national ID card, which is needed as proof of identity for many types of transactions. The city of Beijing in China is already using the Beijing Municipal Administration Traffic Card, or Yikatong, which can be used for public transit, Apart from this, a few supermarkets utilize the Yikatong for payments. In addition to this, the growth in the subway networks in China is expected to act as a major driver for the smart card demand.

Key Developments in the Market

  • April 2018 - Gemalto started supplying its Visa biometric contactless bank card to Areeba, a Fintech company providing payment solutions for banks, governments, and merchants in the Middle East region
  • January 2018 - Fingerprint Cards collaborated with Visa for the market trial of dual-interface biometric payment cards in the United States, along with Mountain America Credit Union

Major Players: CardLogix Corporation, Beijeng Watchdata Co. Ltd., Gemalto N.V., Giesecke & Devrient GmbH, HID Global Corporation, Idemia, Infineon Technologies AG, Rambus.com, Samsung Electronics Co. Ltd, and Sony Corporation, among others.

Smart Card Market Report Summary

Metrics

Details

Industry/Market

Smart Card Market

Base Year

2017

Forecast Period

(2018-2023)

Market Size in 2017

USD 13.36 billion

Market Size in 2023

USD 21.02 billion

CAGR

7.85%

Report Offerings

The Smart Card Market offers latest trends, growth prospects, industry competitiveness, major players, value/supply chain, regional market share, and forecast until 2023.

Reasons to Purchase this Report

  • Impact of identity thefts on the market
  • Analysis of various perspectives of the market with the help of Porter’s five forces analysis
  • The segments that are expected to dominate the market
  • Regional analysis of the market during the forecast period
  • Latest developments, market shares, and strategies employed by the major market players and key innovators
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs

1. Introduction                                 

                1.1 Key Study Deliverables                          

                1.2 Key Study Assumptions                       

                1.3 Market Definition                     

 2. Research Methodology                                          

3. Executive Summary                                  

4. Market Dynamics                                       

                4.1 Market Overview                      

                4.2 Market Drivers                          

                                4.2.1 Growing deployment in personal identification and access control application        

                                4.2.2 Rising Demand in Payment Applications   

                4.3 Market Restraints                    

                                4.3.1 Privacy and security issues             

                4.4 Porter’s Five Forces Model – Industry Attractiveness                             

                                4.4.1 Bargaining Power of Suppliers       

                                4.4.2 Bargaining Power of Consumers   

                                4.4.3 Threat of New Entrants     

                                4.4.4 Threat of Substitutes         

                                4.4.5 Intensity of Competitive Rivalry     

5. Global Smart Cards Market Segmentation                                       

                5.1 By Type                        

                                5.1.1 Contact based       

                                5.1.2 Contact less           

                                5.1.3 Multi Component Cards    

                5.2 By End User               

                                5.2.1 BFSI           

                                5.2.2 Retail         

                                5.2.3 Government           

                                5.2.4 Healthcare              

                                5.2.5 IT and Telecommunication              

                                5.2.6 Travel Identity and Transportation               

                                5.2.7 Other End Users   

                5.3 By Region                   

                                5.3.1 North America      

                                                5.3.1.1 United States

                                                5.3.1.2 Canada

                                5.3.2 Europe     

                                                5.3.2.1 United Kingdom

                                                5.3.2.2 Germany

                                                5.3.2.3 France

                                                5.3.2.4 Rest of Europe

                                5.3.3 Asia-Pacific             

                                                5.3.3.1 China

                                                5.3.3.2 India

                                                5.3.3.3 Japan

                                                5.3.3.4 South Korea

                                                5.3.3.5 Rest of Asia-Pacific

                                5.3.4 Middle East & Africa            

                                5.3.5 Latin America        

6. Competitive Intelligence – Company Profiles                                 

                6.1 CardLogix Corporation                       

                6.2 Beijeng Watchdata Co. Ltd                   

                6.3 Gemalto N.V.                              

                6.4 Giesecke & Devrient GmbH                  

                6.5 HID Global Corporation                         

                6.6 Idemia                          

                6.7 Infineon Technologies AG                   

                6.8 Rambus.com                             

                6.9 Samsung Electronics Co. Ltd                              

                6.10 Sony Corporation

                  *List is not exhaustive            

7. Investment Analysis                                 

 8. Future Outlook of Smart Cards Market

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