Global Smart Cards Market is predicted to reach USD 15.4
billion by 2025, according to a new study by Grand View Research, Inc. The
increasing demand for the product, across various applications, such as payment
transactions, cell phones, ID verification & access controls, is presumed
to favor the market growth over the forecast period. Smart cards are used in
several applications including the retail, healthcare, government, and
hospitality sectors, promoting the market demand over the forecast period by
providing effective data storage, efficient payment transactions, and faster
processing time.
The increasing use of smart cards in the telecommunication
and BFSI segments is expected to drive the market over the next nine years.
Their implementation in retail applications enables secure transactions and
provides new opportunities to the market.
Smart cards are extensively used to enable secure payment
transactions and to promote cashless payments, thereby, enabling cost savings
for payment merchants and offering convenience to the consumers. The use of
mobile phones and IoT devices has further promoted the use of SIM & data chips
thereby driving the demand for the product. These devices are increasingly used
in retail applications to enable faster transactions and reduce the checkout
time. These advantages are enabling growth of the industry at a significant
rate, over the next nine years.
Full Research Report on Global Smart Cards Market
Analsysis:
http://www.grandviewresearch.com/industry-analysis/smart-card-industry
http://www.grandviewresearch.com/industry-analysis/smart-card-industry
Further key findings from the study suggest:
- The
telecommunication application segment dominated the overall market in 2015
and accounted for over 46% of the market in the same year
- The
contact cards segment was a key segment in 2015 and accounted for over 65%
of the overall industry revenue
- Contact
cards provide ease of transactions, owing to their low costs and low
handling-charges. Contactless cards are also expected to grow,
significantly, due to the elimination of physical card insertion and
better security.
- The
microcontroller-based segment accounted for over 70% of the overall smart
cards market in 2015
- The
Asia Pacific region is expected to significantly contribute to the
industry growth and accounted for over 45% of the global industry revenue
in 2015
- The
key industry participants include American Express Company, Atos SE, CPI
Card Group, Gemalto NV, Giesecke & Devrient (G&D) GmbH, Infineon
Technologies AG, Inside Secure SA, NXP Semiconductors NV, and Texas
Instruments, Inc.
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research
has segmented the Global Smart Cards Market based on type, component,
application and region:
Smart Cards Type Outlook (Revenue, USD Million; 2014 -
2025)
- Contact
cards
- Contactless
cards
- Multi-component
cards
Smart Cards Component Outlook (Revenue, USD Million; 2014
- 2025)
- Memory-based
- Microcontroller-based
Smart Cards Application Outlook (Revenue, USD Million;
2014 - 2025)
- BFSI
- Government
- Telecommunications
- Retail
- Healthcare
- Hospitality
- Others
Smart Cards Regional Outlook (Revenue, USD Million; 2014
- 2025)
- North
America
- Europe
- Russia
- Asia
Pacific
- Rest
of the world
View
Press Release Of This Research Report By Grand View Research: http://www.grandviewresearch.com/press-release/global-smart-card-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more Information visit us: www.grandviewresearch.com