LONDON, Sept. 26, 2016 /PRNewswire/ -- Smart cards are
IC-based cards that accumulate and retrieve information using
various computer systems. Smart cards consist of central processing
units and memory units. Smart cards primarily act as a
cost-effective way to store, manage, and maintain credentials for
their users. This makes these products highly convenient for
different applications. In addition, the portability of smart cards
enables their extensive adoption across different applications.
Currently, smart cards are widely used across sectors such as
telecommunications, BFSI, and government. Due to the numerous
advantages they offer, smart cards are increasingly used in the
healthcare, government IDs (e-passports), and retail sectors. Thus,
strong ongoing adoption of smart cards across different sectors is
estimated to substantially spur the market's growth in the coming
years.
The research study titled "Smart Cards Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2023"
provides in-depth analysis of the market and related sub-segments.
The report strategically focuses on market segments including
different types of smart cards and components. In addition, this
report provides market insights and forecasts of the size and
growth of each segment across each of the geographic regions. The
report includes detailed analysis of prevalent market trends and
profiles of key players. In order to provide better understanding
of competition in the market, the report offers ecosystem analysis
and competitive landscape. The study on the global smart cards
market has been conducted with the objective of providing thorough
coverage of the underlying technological and socio-economic factors
driving the market.
The smart cards market is expected to see consistent growth in
the coming years due to the increasing demand for secure and
reliable payment transactions across the retail and BFSI sectors.
Moreover, cost-saving schemes for merchants from payments brands
such as Visa, MasterCard, and Europay is driving the smart card
technology innovations. The decreasing prices of subscriber
identification module (SIM) cards and tariff rates are increasing
the number of mobile subscribers, and thus further contributing to
the growth of the smart cards market. However, factors such as
price pressures and technological challenges along with the cost of
migrating to smartcard compatible readers affect the adoption of
smartcards. Conversely, technological advancements, falling prices,
and the introduction of high-end SIMs offer potential opportunities
for the growth of the smart cards market.
This report studies the current scenario as well as the future
market potential for smart cards globally. The market for smart
cards has been segmented based on three major parameters: card
type, components, and geography. The major types of smart cards
used are contact smart cards, contactless smart cards, hybrid smart
cards, and dual-interface smart cards. On the basis of components,
the smart cards market is segmented into microcontroller-based
smart cards and memory-based smart cards. The demand for
microcontroller-based smart cards is significantly high owing to
the wide adoption of such cards for contactless and dual-interface
smart cards. The market size and forecast, in terms of revenue and
volume (US$ Mn & Mn units), for each of these segments has been
provided for the period from 2013 to 2023, considering 2013 and
2014 as the base years. For 2015, report provides actual data for
the first half and estimate for the second half. Also, the report
provides market size and forecast in terms of volume (Mn Units) for
various segments for the above mentioned period. The report also
provides the compounded annual growth rate (CAGR) for each segment
of the market for the forecast period 2016 to 2023.
Geographically, the market for global smart cards has been
segmented into four regions: North
America, Europe,
Asia Pacific, and Rest of the
World. The report also provides a competitive landscape, wherein
the market share analysis of leading players in the global smart
cards market for the year 2014, in terms of value percentage, has
been discussed. The report concludes with the company profiles
section, which provides an overview of the major companies
operating in the market including strategies deployed by them to
gain competitive advantage, annual revenue generated by them in the
past two years, and key developments in the market. The companies
profiled in this report include the American Express Company, Atos
SE, NXP Semiconductors NV, Infineon Technologies AG, Gemalto NV,
INSIDE Secure, Giesecke & Devrient (G&D) GmbH, and Texas
Instruments, Inc.
The global smart cards market is categorized into the following
segments:
Smart Cards Market, by Type
Contact Smart Cards
Contactless Smart Cards
Hybrid Smart Cards
Dual-interface Smart Cards
Smart Cards Market, by Component
Microcontroller
Memory Card
Smart Cards Market, by Geography
North America
Europe
Asia Pacific
Middle East & Africa (MEA)
Latin America
Download the full report:
https://www.reportbuyer.com/product/4000059/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that
provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: query@reportbuyer.com
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/smart-cards-market-contact-contactless-dual-interface-and-hybrid---global-industry-analysis-size-share-growth-trends-and-forecast-2016---2023-300334321.html
SOURCE ReportBuyer