Smart Card in Government Market Scope
The growing popularity of e-passports and smart cards in banks will help boost the demand for Smart Card in Government in the forecasted period. The advent of multifunction cards has made it convenient to manage the network system access and store valuable and other data are some of the major as well as vital factors which will likely augment the growth of the smart card in the government market. The smart card is the type of device used to share and control the information contained in it. It is incorporated into an integrated circuit chip that can be either a basic memory circuit or a memory microprocessor.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | IDEMIA (France), Giesecke + Devrient GmBH (Germany), CPI Card Group (United States), HID Global Corporation (United States), Watchdata (China), Eastcompeace (China), Inteligensa (United States), ABCorp (United States) and CardLogix (United States) |
CAGR | 8.5% |
IDEMIA (France), Giesecke + Devrient GmBH (Germany), CPI Card Group (United States), HID Global Corporation (United States), Watchdata (China), Eastcompeace (China), Inteligensa (United States), ABCorp (United States) and CardLogix (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Infineon Technologies AG (Germany), NXP Semiconductors. (Netherlands), STMicroelectronics (Switzerland), Ingenico. (France) and Watchdata Co., Ltd. (Russia).
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.
Segmentation Overview
The study have segmented the market of Global Smart Card in Government market by Type , by Application (Identification and Authentication, Entrance and Exit and Other) and Region with country level break-up.
On the basis of geography, the market of Smart Card in Government 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). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 14th August 2020, Advancing contactless payments: Infineon and Fingerprint Cards join forces to drive mass deployment of biometric cards. Biometric payment cards with integrated fingerprint sensors make contactless payments more convenient, more secure, and hygienic. The contactless card remains in the hands of the cardholder throughout the entire payment transaction, while eliminating the need for PIN entries or signatures to authorize even high-value payments.
On 3rd October 2019, IDEMIA, the global leader in Augmented Identity announces that IDEMIA and IDEX Biometrics ASA, the leading provider of advanced fingerprint identification and authentication solutions have entered a worldwide license agreement for use of IDEX’s biometric enrollment intellectual property.
Influencing Trend:
The increasing popularity of e-passports and smart cards in banks and The advent of multifunction cards has made it convenient to manage the network system access and store valuable and other data
Market Growth Drivers:
The upsurging demand for identification cards to avail government facilities and The rising demand for the contactless interfaces
Challenges:
Lack of standardization in smart cards and increased security concerns
Restraints:
High infrastructure costs, along with security and data theft concerns
Opportunities:
Growing IT expenditure in the developing countries and The rising adoption of blockchain technology which enhances security features
Key Target Audience
Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others