Biometric Smart Cards Market Scope
A biometric smart card is an equipment that consists of an embedded integrated circuit chip. This card can either be a matching intelligence with inbuilt memory or a self-asserting microcontroller or just a memory chip lone. Since their inception, high adoption of biometric smart cards is witnessed, especially in developed countries such as the U.S. and the U.K in the BFSI industry vertical. Besides the BFSI industry vertical, biometric smart cards have applications in government as well as military & defense, hospitality, residential, industrial, and telecommunication industry verticals, among others.
The companies are exploring the market by adopting mergers & acquisitions expansions investments new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Biometric Smart Cards market throughout the predicted period.
Aware, Inc. (United States), CardLogix Corporation (United States), IDEMIA (France), IDEX Biometrics (Norway), IRITECH, INC. (United States), LenelS2 (United States), NEXT Biometrics (Norway), Precise Biometrics (Sweden), Gemalto NV (Thales Group) (France) and JB Systems (United States) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Biometric Smart Cards market by Type (Contact Biometric Smart Cards and Contactless Biometric Smart Cards), by Application (Residential, Commercial and Industrial) and Region with country level break-up.
On the basis of geography, the market of Biometric Smart Cards 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).
Influencing Trend:
Introduction of Contactless Biometric Smart Cards for Catering to the Increasing Demand for the Same from the BFSI Industry Vertical
Market Growth Drivers:
Increasing Deployment in Personal Identification and Access Control Application and Widespread Use in Travel Identity and Transportation
Challenges:
Concerns Regarding Privacy and Security Issues
Restraints:
High Cost of Biometric Smart Cards
Opportunities:
Increasing Digitization across the World
The Homeland Security Presidential Directive - 12 (HSPD-12) requires federal agencies to use a standard smart credential to verify the identities of all employees and contractors accessing federal buildings and information systems. The directive mandates that all government personnel obtain Personal Verification Identification (PIV) cards, which enhance security, increase government efficiency, reduce identity fraud and protect personal privacy.
Key Target Audience
Manufacturers of Biometric Smart Cards, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Biometric Smart Cards, Healthcare Industry, Retail Industry, IT and Telecommunication Industry, Governmental Bodies and Research Firms
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.