Smart Cards Market Trends, Growth And Regional Outlook and Forecast 2020-2027 | Impact of COVID-19
Author : Soham patel | Published On : 12 Jan 2022
For the added security and customer convenience, the credit and debit cards are being updates to smart cards for saving them against the potential dangers of offline and online frauds. The smart cards are equipped with an integrated circuit (IC) chipsets, which help secure & fast identification, processing, and data storage. With the increasing security breaches, the private and government agencies are using the smart cards in their identification cards. Subscriber identification module (SIM) cards are the biggest example of smart cards. With an increase in the number of subscribers, the telecom industry has become one of the most extensive guests of this market.
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Also, the smart cards are now being used in e-Passports for easy identification and processing of personal identification of the travelers moving between the countries. As it is an online process, the cross identification of data through servers has boosted the market and reduced the number of queues. The rapidly developing economies are the key drivers of this market due to a surge in demands for better technologies with enhanced security features. Rising investments by the authorities towards attaining smart card technologies boost the market growth and secure the future of this market.
Smart Card Industry reports provide in-depth knowledge about the opportunities, market trends, drivers & constraints, growth, and other factors followed by the thorough research of the major markets. During the survey period, the global Smart Card Market Size is expected to touch a 07 % annual growth mark on observing the current market trends.
The Key Players in Smart Card Market Size are - 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).
The global Smart Card Market Size segmentation is based upon the following key components.
- Based on the types, the global smart cards market is categorized into contactless, contact, hybrid, and dual-interface types.
- Based on components, the global smart cards market is segmented into hardware, software, readers, and others.
- Based on end-users, the global smart cards market finds its application in transportation, telecom, education, Banking, Financial Services & Insurance (BFSI), retail, government services, and other major industries.
Growing security issues and demands for better services is boosting the market growth in all regions. Smart cards have more robust and reliable security systems embedded, which makes it even more useful for maximum industries. The global smart cards market is observed in Asia Pacific, America, Europe, and the rest of the world. The Asia Pacific market will be the largest stakeholder in this period in production and consumption aspects and will show the fastest-growing rates during the entire tenure. Rapidly developing economic structures, demands for the latest security techniques, rapid digitalization, and other factors are majorly driving the market.
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