Global Contactless Smart Cards Market in the Banking Sector 2016-2020

  • Published: Jun 2016
  • Pages: 59
  • SKU: IRTNTR9138

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This market research study presents a detailed segmentation of the global contactless smart card market in the banking sector by key areas (APAC, Europe, MEA, North America, and South America). Leading vendors identified in this market are Gemalto, Giesecke & Devrient, Safran, and Oberthur Technologies.

Outlook of the contactless smart card market in the banking sector

Technavio’s market research analyst predicts the global contactless smart card market in the banking sector to grow at a phenomenal CAGR of more than 33% over the forecast period. Most contactless smart cards are issued with preinstalled data codes for unique identification purposes. This makes it easy for end users to use these cards by swiping it against the card reader. The card reader immediately retrieves the code and sends it to the system to provide the information to end users. Since contactless smart cards provide a user-friendly environment for consumers and are easy to maintain and store, its adoption is envisaged to increase significantly in the coming years.

In this industry research report, the analysts have estimated factors such as the emergence of multi-application smart cards to propel the growth prospects of this market over the predicted period. Rapid technological advancements have led to several vendors, such as Gemalto, providing multi-application smart cards. These smart cards are a combination of contactless and contact interfaces on a single card. Moreover, these cards have shared storage and information processing, preventing the need for individuals to carry multiple cards for different applications. For instance, Blue from American Express is a multi-application smart card that provides additional security while online shopping and ticketing.

Geographical segmentation and analysis of the contactless smart cards market in the banking sector

  • APAC
  • Europe
  • MEA
  • North America
  • South America

During 2015, APAC dominated the global contactless smart card market in the banking sector and is expected to reach more than USD 695 million by 2020. The major revenue contributing areas in the region include China, Japan, South Korea, Malaysia, and Australia. Factors such as the transition of payment cards from magnetic stripe to Europay, MasterCard, and Visa and the increasing acceptance of contactless banking and financial smart cards among end users is envisaged to contribute to the growth of this market in the region.

Competitive landscape and key vendors

The contactless smart card market in the banking sector is highly fragmented due to the presence of several regional and international vendors. The competition is expected to intensify with large vendors interested in acquiring small vendors to expand their product portfolio and market shares. The level of competition is expected to intensify further with an increase in solution extensions, technological innovations, and M&A activities.

Key vendors in this market are -

  • Gemalto
  • Giesecke & Devrient
  • Safran
  • Oberthur Technologies

Other prominent vendors in the market are American Express, ARM, Bell ID, CardLogix, DataCard, HID Global, Infineon Technologies, MasterCard, NXP Semiconductors, Smart Card IT Solutions, Visa.

Key questions answered in the report include

  • What will the contactless smart cards market size and growth rate be in 2020?
  • What are the key factors driving the global contactless smart cards market in the banking sector?
  • What are the key market trends impacting the growth of the global contactless smart cards market in the banking sector?
  • What are the challenges to market growth?
  • Who are the key vendors in the global contactless smart cards market in the banking sector?
  • What are the market opportunities and threats faced by the vendors in the global contactless smart cards market in the banking sector?
  • Trending factors influencing the market shares of the APAC, Europe, MEA, North America, and South America.
  • What are the key outcomes of the five forces analysis of the global contactless smart cards market in the banking sector?  

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Related reports:

Contactless smart cards are pocket-sized cards, which are embedded with integrated circuits. These smart cards can be used by organizations across various sectors like BFSI, transportation, government, and healthcare for an individual’s identification and authentication. These cards can also be used for passports, driver's licenses, IDs, and voter IDs.

The report, global contactless smart cards market in the banking sector, is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: Market description

  • Working flow of contactless smart cards
  • Advantages of smart cards
  • Disadvantages of smart cards

PART 06: Market landscape

  • Market overview
  • Market assumptions
  • Contactless smart card in banking sector
  • Market size and forecast
  • Global unit shipment of contactless smart cards in banking sector

PART 07: Product life cycle analysis

PART 08: Geographical segmentation

  • Global contactless smart card market in banking sector by geography
  • Contactless smart card market in banking sector in APAC
  • Contactless smart card market in banking sector in Europe
  • Contactless smart card market in banking sector in South America
  • Contactless smart card market in banking sector in North America
  • Contactless smart card market in banking sector in MEA

PART 09: Market attractiveness

  • Market attractiveness by geography

PART 10: Advent of NFC-based mobile phones

PART 11: Market drivers

  • Growing need to reduce identity duplication
  • Need for tamper-resistant information storage systems
  • Increasing need to prevent fraud in banks

PART 12: Impact of drivers

PART 13: Market challenges

  • High initial deployment and replacement costs
  • Increase in price-based competition
  • Growing complexity of smart card chips
  • Lack of awareness about contactless smart cards among end-users

PART 14: Impact of drivers and challenges

PART 15: Market trends

  • Emergence of multi-application smart cards
  • Introduction of hybrid smart cards
  • Increased adoption of electronic purses

PART 16: Buying criteria

PART 17: Vendor landscape

  • Competitive scenario

PART 18: Five forces model

  • Value chain analysis
  • Product offerings
  • Vendor matrix
  • Competitive rating
  • Description of vendors
  • Channel distribution
  • Other prominent vendors

PART 19: Appendix

  • List of abbreviations

PART 20: Explore Technavio


Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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