About Smart Cards
A smart card is an equipment which consists of an embedded integrated circuit chip. This card can either be a matching intelligence with inbuilt memory or self-asserting microcontroller or just a memory chip lone. A smart card gets connected to the reader only when it’s directly physically contacted or with the help of a remote contactless radio-frequency interlace. With the help of an embedded microcontroller, the smart card has the idiomatic ability to accumulate an enormous amount of information or data, performing their individual on-card operations, for example, mutual authentication, encryption and interact ingeniously with the smart card reader.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.0% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Smart Cards market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
CardLogix Corporation (United States), Watchdata Group (Singapore), NXP Semiconductors NV (Netherlands), Texas Instruments, Inc. (United States), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Gemalto N.V. (Netherlands), Giesecke & Devrient GmbH (Germany), IDEMIA France SAS (France) and Infineon Technologies AG (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Rambus Inc. (United States), Inside Secure SA (France) and HID Global Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Smart Cards market by Type (Contact-Based, Contactless, Hybrid Card and Other), Application (Electronic Cash, Computer Security Systems, Wireless Communication, Loyalty Systems, Banking, Government Identification and Other) and Region.
On the basis of geography, the market of 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). If we see Market by Component, the sub-segment i.e. Memory-Based will boost the Smart Cards market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. BFSI will boost the Smart Cards market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Demand for Smart Cards in Payment Applications and Government Initiation to Support Smart Card
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 Smart Cards
Opportunities:
Rising Demand from Telecommunication and BFSI Segment and Increasing Digitization across the World
Market Leaders and their expansionary development strategies
In January 2023, Gemalto and Idemia, two leading players in the smart card industry, finalized their merger to create a new company named "IDEMIA Group." This combined entity boasts a wider product portfolio and a stronger global footprint.
In July 2023, NXP Semiconductors launched a new high-security microcontroller specifically designed for smart cards used in financial transactions and secure access applications. This product offers advanced security features and tamper resistance.
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 Smart Cards, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Smart Cards, Healthcare Industry, Retail Industry, IT and Telecommunication Industry, Governmental Bodies and Research Firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.