The Market Insights Reports has added a new statistical data to its repository titled as, Global Smart Card Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
The market for Smart Card is set to grow at a CAGR of 9.7% during the forecast period (2020 – 2025).
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Top Key Players in the Global Smart Card Market are CardLogix Corporation, Watchdata Technologies, Bundesdruckerei GmbH, Intelligensa Group, Austriacard (Inform Lykos), Alioth LLC, Gemalto NV (Thales Group), Giesecke & Devrient GmbH, Idemia France SAS (Advent International), Bartronics India Limited, CPI Card Group Inc., Eastcompeace Smart Card Co. Ltd, HID Global (Assa Abloy AB), Sony Corporation, and others.
Industry News and Update:
– February 2020- Bundesdruckerei GmbH collaborated with Gematik GmbH to set up and operate the key generation service 2 (SGD2) for the ePA as a service of the telematics infrastructure (TI) for the electronic health card.
– October 2019 – CardLogix has started looking for clients owing to the official release of NXP’s latest generation Java Card OS, JCOP 4 technology backed smart cards with custom applet development and existing applet support. JCOP 4 smart cards deliver benchmark transaction performance for EMV payments and other high-speed applications.
Key Market Trends:
Contactless Smart Card is Expected to Drive the Market
– Contactless smart cards differ from contact-based smart cards because the chip is not visible on the card. Instead, the chip and its antenna are embedded within the card’s body. The card is waved over an RFID reader instead of inserted like a contact card. When the contactless card passes through the specifically tuned RFID field, the antenna powers up the chip and relays its information to the application.
– Furthermore, account information is transmitted wirelessly over radio frequency (RF). The consumer’s contactless payment device can assume a variety of form factors, including cards, near field communication (NFC)-enabled smartphones, and wearables. Contactless transactions are cryptographically secure and generate a unique code for each transaction.
– Moreover, contactless is finding its place globally, particularly in transit. For instance, the Metropolitan Transportation Authority (MTA) reported that the OMNY system surpassed 5 million total taps in January, since the start of the pilot. Though transit is a major driver of the technology, acceptance is still not uniform in other retail outlets.
– Additionally, in the beginning of 2020, Helsinki Regional Transport signed a deal with LittlePay to introduce contactless smart payments across all modes of transport in Finland’s capital, as part of a three-year deal. Work has already started on the roll-out across Helsinki’s ferry, rail, and bus systems. Furthermore, the introduction of contactless payments is seen as a vital way in boosting the use of public transport.
Full Browse the report description and TOC:
Highlights of TOC:
Market Overview: It starts with product overview and scope of the Global Smart Card market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Smart Card market size analysis for the review period 2015-2025.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Smart Card market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Smart Card market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Smart Card report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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