Smart Cards Market to
Reach US$ 13.27 Bn by 2022
According to a new market research report published by
Credence Research “Smart Cards (By Type – Contact-based Smart Cards,
Contactless Smart Cards, Dual-interface Smart Cards and Hybrid Smart Cards)
Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015
- 2022”, the global smart cards market was valued at US$ 7,568.5 Mn in 2014 and
is estimated to expand with a CAGR of 7.2% from 2015 to 2022.
Browse the full
report at http://www.credenceresearch.com/report/smart-cards-market
Market Insights
Smart cards refer to a pocket-sized device embedded with an
integrated circuit (IC) chip. The IC chip on the card can be memory card-based
or microcontroller-card based depending upon the function of smart cards. Smart
card is used by connecting it to a smart card reader either through direct
physical contact or radio frequency (RF) communication. Thus, the operation of
smart cards is quite similar to the traditional magnetic strip and bar code
cards.
The most significant factor driving the smart cards market
growth is the high penetration in the telecommunication sector. Smart cards are
widely used as subscriber identity module (SIM) in mobile phones thereby
increasing the demand globally. Due to ever-rising penetration of mobile phones
worldwide, the smart cards market growth is expected to remain steady
throughout the forecast period.
Download sample Pages
of the reports @ http://www.credenceresearch.com/sample-request/57836
Another significant factor fueling the smart cards market
growth is the better security features as compared to the traditional cards.
Smart cards are comparatively difficult to clone and hence cannot be easily
misused for any application. These cards are equipped with internal memory
storage (larger than magnetic strip cards) which enables to incorporate better
security features onto the smart cards. This makes smart cards suitable for use
across various applications such as banking, identity cards (ePassport),
healthcare and others.
Competitive Insights
The global smart cards market is consolidated in nature with
few international players contributing to more than fifty percent of the total
market revenue. Major players in the market include Giesecke & Devrient
(G&D) GmbH, Gemalto NV and Oberthur Technologies. Other prominent players
in the market comprise Infineon Technologies AG, NXP Semiconductors NV, Atos
SE, INSIDE Secure SA, CardLogix Corporation and others.
The smart cards have enjoyed strong penetration across
various application sectors such as ID cards, telecommunication and banking
services. Thus, the market players are focused upon developing better security
features along with minimal cost of the cards. This makes the market technology
driven and price competitive.
Key Trends
Development of advanced smart cards solutions with better
security and reliability
Smart cards for healthcare applications
Penetration of smart cards in ID cards of nations worldwide
Acquisition and partnerships with smart card manufacturers
as well as component manufacturer
About Us:
Credence
Research is a worldwide market research and counseling firm that serves driving
organizations, governments, non legislative associations, and not-for-benefits.
We offer our customers some assistance with making enduring enhancements to
their execution and understand their most imperative objectives. Over almost a
century, we’ve manufactured a firm extraordinarily prepared to this task.
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