Market Research Future published a Cooked research report on “Global Contactless Smart Card Market Research Report – Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027
Gemalto (Netherlands), Giesecke & Devrient (Germany), Oberthur Technologies (France), Safran S.A. (France), Watchdata Technologies (China), Advanced Card Systems Ltd (Hong Kong), CardLogix Corporation (U.S.), DataCard Group (U.S.), Infineon Technologies (Germany), NXP Semiconductors (Netherlands), Secura Key (U.S.), Sony Corporation (FeliCa) (Japan) and SpringCard (France) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Contactless Smart Card Market.
Contactless Smart Card Global Market – Overview
The global contactless smart card market is showing immense growth; mainly due to the growing need for a tamper resistant system. Smart cards are segmented into two types namely, contact-based and contactless. Contactless smart cards refer to a credential that has embedded integrated circuits that can store data and communicate with a terminal via NFC. Most common applications of contactless smart cards include transit tickets and passports.
According to a recent study report published by Market Research Future, the global market of contactless smart card is growing and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2027 with a striking CAGR during the anticipated period (2017 – 2027). Contactless smart cars have an antenna embedded inside the card that enables communication with the reader without any physical contact. Contactless smart card technology is an excellent privacy enabling solution for the applications which ensure secure communication. Increasing demand for contactless smart card from government sector is one major factor driving the market growth. Also, growing demand for contactless payments and applications across various industry verticals such as of BFSI, IT & telecommunication, healthcare, defense and government is fuelling the market growth. On the other hand, lack of awareness and lack of technical expertise are major factors hindering the growth of contactless smart card market.
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May 2017 – Gemalto and Veridos strengthen citizen identity security with eID cards for Macao SAR Government. Under the collaboration, Gemalto is the subcontractor responsible for providing the physical cards, enhanced with security features and seamlessly incorporating Veridos’ operating system software solution. The partnership will ensure a steady and consistent supply of smart eID cards to the government.
May 2017 – Gemalto finalizes purchase of 3M Cogent and 3M identity management business. The acquisition brings biometric tech and additional document security features to Gemalto’s Government Programs offering and, according to a company release, positions Gemalto to provide solutions for the commercial biometrics market.
March 2017 – CardLogix Releases M.O.S.T. Card C9 Series: Dual-Interface Microprocessor Smart Cards. The Card C9 dual-interface microprocessor smart card is built on a single, CC EAL5+ certified silicon, computer chip that communicates to both contact and contactless readers to enable the widest range of card applications.
Contactless Smart Card Global Market – Competitive Analysis
The market of contactless smart card appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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Contactless Smart Card Global Market – Segmentation
The contactless smart card market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
Segmentation by Type: Comprises of Proximity Card and CPU/MPU Card
Segmentation by Application: Comprises of transportation, banking, government ID, payments, transit, access control and others
Segmentation by Vertical: Comprises of BFSI, IT & Telecommunication, Healthcare, Defense, Government and others
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Contactless Smart Card Global Market – Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the Contactless Smart Card Market in North America owing to the presence of a large number of established key players such as CardLogix Corporation (U.S.), DataCard Group (U.S.) and Secura Key (U.S.) among others. Increasing demand for tamper-resistant systems is one major factor driving the growth of contactless smart card market. Also, due to the drastic fall in the usage of native applications and a considerable shift towards the digitization in the region, the market is likely to show immense growth in the coming future. Contactless smart card market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2027 due to rise in IT technology and increasing emergence of multi-application smart cards in the region. Whereas, the Europe market for contactless smart card is expected to grow at a considerable CAGR (2017-2027).
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