Industry Background:
IC card, a rechargeable card that can be used to conveniently payment in various applications such as transportation, shopping, restaurants by simply touching the card on a reader. This card is more secure and offers more functionality as well. The growth in the demand for identification cards to avail government facilities globally is the major driving factor in the adoption of IC card in the upcoming years.
This growth is primarily driven by Increasing Demand for Identification Cards to Avail Government Facilities Globally and Growing Demand for Contactless Interfaces to Boost Adoption of Smart IC Cards.
Globally, a noticeable market trend is evident Growing Integration of Smart Cards with Blockchain Technology. Major Players, such as Gemalto NV (Netherland), Oberthur Technologies (France), Giesecke & Devrient GmbH (Germany), Goldpac (Hong Kong), Eastcompeace Technology Co. Ltd. (China), CPI Card Group Inc. (United States), Hengbao Co. Ltd. (China), Wuhan Tianyu Information Industry Co. Ltd. (China), Watchdata Systems Co.Ltd, Datang Microelectronics Technology Co. Ltd. (China) and Kona I (South Korea) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Increasing Demand for Identification Cards to Avail Government Facilities Globally
- Growing Demand for Contactless Interfaces to Boost Adoption of Smart IC Cards
Market Trend
- Growing Integration of Smart Cards with Blockchain Technology
Restraints
- Lack of Awareness and Low Adoption Rate in both Developing and Underdeveloped Nations
- Growing Adoption of Mobile Wallet
Opportunities
The Emergence of E-Passports and IC Cards in Banking Systems and Transporation Sector
Challenges
Security Issues Related to Contactless IC Card and Lack of Standardisation
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, IC Card Study Sheds Light on
The IC Card Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the IC Card industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where IC Card industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.