What is Smart Card Readers Market?
Smart card readers are used with smart cards which are a type of plastic technology card with a built-in chip used for electronic processes including personal identification, access control, authentication, and financial transactions. They are available in either contact, contactless, or a combination of contact and contactless models. They are available either contact, contactless, or a combination of contact and contactless models. The contact smart card readers need manual insertion of the card into the reader by the user while contactless smart card readers operate with a radio frequency that communicates when the card comes close to the reader.
The market study is being classified by Type (Contact-based, Contactless-based and Dual Interface-based), by Application (Payments, Identity Management, Security & Access Management, Ticketing and Others) and major geographies with country level break-up.
ARM Holdings (United Kingdom), Atmel Corporation (United States), Infineon Technologies AG (Germany), Giesecke & Devrient (Germany), IDEMIA (France), Oberthur Technologies (France), MasterCard (United States), Visa (United States), Staples Inc. (United States), HID Global (United States) and Hewlett Packard Enterprise (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are SIIG, Inc. (United States), SMK-Link Electronics Corporation (United States) and Lenovo (China).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Smart Card Readers market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Smart Card Readers market by Type, Application and Region.
On the basis of geography, the market of Smart Card Readers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Use of Smart Cards for Ease of Transactions
- High Adoption of Advanced Technologies
Market Trend
- Increased Disposable Income of the People
Restraints
- Security Concerns related to Smart Cards
Opportunities
- Rising Adoption Of Contactless Payment Solutions
- Increasing Demand for Numerous Applications in Various Industries
Challenges
- Achieving Interoperability Among Smart Card Systems
Market Leaders and some development strategies
In September 2020, NVIDIA and SoftBank Group Corp. have announced a definitive agreement under which NVIDIA will acquire Arm Limited from SBG and the SoftBank Vision Fund. The transaction is expected to be immediately accretive to NVIDIA’s non-GAAP gross margin and non-GAAP earnings per share.
Key Target Audience
Smart Card Readers Manufacturers, Distributors, Emerging Companies, Research Professionals and End-users