Global Smart Cards Market 2017-2021

Overview of the global smart cards market

Research analysis on the global smart cards market identifies that the increasing number of cashless transactions will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s market research analysts predict that this market will grow at a CAGR of nearly 9% by 2021. Smart cards are mostly installed with preinstalled data codes for unique identification. This makes it easier for end-users to use smart cards by swiping the card against the card reader. The card reader instantly scans the code and sends it to the system to provide information about the end-user. This enables the ease of the payment process by providing a user-friendly environment for end-users. An electronic purse is a smart card that allows monetary transactions similar to credit or debit cards that helps consumers make digital payments and avoid carrying cash. With the increasing adoption of e-purses, the smart cards market will witness considerable growth during the forecast period.

In terms of geographic regions, APAC will be the major revenue contributor to the smart cards market throughout the forecast period. The increased adoption of advanced smart cards technologies and the high penetration of vendors will drive the market’s growth in this region. Additionally, the growth of the e-commerce industry and the high-volume production of contact-based and contactless smart cards in countries such as China, will also propel the smart cards market growth in APAC.

Competitive landscape and key vendors  

The smart cards market consists of a few global vendors, numerous multinational vendors and small regional players. According to the smart cards market analysis research report, the increasing number of instances related to identity duplication and imitation has led to an increase in the demand for contactless smart cards by the BFSI and transportation sectors. The large vendors often acquire small players to expand the product portfolio and market share. Product differentiation plays a significant role in the growth of the vendors in this marketspace.

The leading vendors in the market are -

• Gemalto
• Giesecke & Devrient
• OT-Morpho
• Watchdata

The other prominent vendors in the market are ARM, Rambus, CardLogix, DataCard, HID Global, Infineon Technologies, NXP Semiconductors, and Smart Card IT Solutions.

Segmentation by technology and analysis of the smart cards market

• Contact-based
• Contactless

During 2016, the contact-based segment accounted for the major shares of the smart cards market. The high adoption of contact-based smart cards for access controls and identification will be the major factor contributing to the growth of this industry segment in the coming years. This in turn, will have a positive impact on the smart cards market size and share.

Segmentation by end-user and analysis of the smart cards market

• Telecom
• Government
• BFSI
• Transportation

According to the smart cards market report, the telecom industry will be the major end-user segment to the smart cards market until 2021. The increasing demand for cellular phone connections drives the segment’s growth in this global market. The demand for smartcards is directly connected with the demand for smartphones and tablets as these cards are integrated within the devices.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global smart cards market?
• What are the key market trends impacting the growth of the global smart cards market?
• What are the challenges to market growth?
• Who are the key vendors in the global smart cards market?
• What are the market opportunities and threats faced by the vendors in the global smart cards market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global smart cards market?

Technavio also offers customization on reports based on specific client requirement.