San Francisco,8 October
2018: The global smart
cards market is
predicted to reach USD 15.4 billion by 2025, according to a new study by Grand
View Research, Inc. The increasing demand for the product, across various
applications, such as payment transactions, cell phones, ID verification &
access controls, is presumed to favor the market growth over the forecast
period. Smart cards are used in several applications including the retail, healthcare,
government, and hospitality sectors, promoting the market demand over the
forecast period by providing effective data storage, efficient payment
transactions, and faster processing time.
The increasing use of smart cards in the
telecommunication and BFSI segments is expected to drive the market over the
next nine years. Their implementation in retail applications enables secure
transactions and provides new opportunities to the market.
Smart cards are extensively used to enable
secure payment transactions and to promote cashless payments, thereby, enabling
cost savings for payment merchants and offering convenience to the consumers.
The use of mobile phones and IoT devices has further promoted the use of SIM
& data chips thereby driving the demand for the product. These devices are
increasingly used in retail applications to enable faster transactions and
reduce the checkout time. These advantages are enabling growth of the industry
at a significant rate, over the next nine years.
Access
Research Report of Smart Cards Market @ www.grandviewresearch.com/industry-analysis/smart-card-industry
Further key findings from the study suggest:
· The telecommunication application segment
dominated the overall market in 2015 and accounted for over 46% of the market
in the same year
· The contact cards segment was a key segment
in 2015 and accounted for over 65% of the overall industry revenue
· Contact cards provide ease of transactions,
owing to their low costs and low handling-charges. Contactless cards are also
expected to grow, significantly, due to the elimination of physical card
insertion and better security.
· The microcontroller-based segment accounted
for over 70% of the overall smart cards market in 2015
· The Asia Pacific region is expected to
significantly contribute to the industry growth and accounted for over 45% of
the global industry revenue in 2015
· The key industry participants include
American Express Company, Atos SE, CPI Card Group, Gemalto NV, Giesecke &
Devrient (G&D) GmbH, Infineon Technologies AG, Inside Secure SA, NXP
Semiconductors NV, and Texas Instruments, Inc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the
global smart cards market based on type, component, application and region:
Smart Cards Type Outlook (Revenue, USD
Million; 2014 - 2025)
·
Contact cards
·
Contactless cards
·
Multi-component cards
Smart Cards Component Outlook (Revenue, USD
Million; 2014 - 2025)
·
Memory-based
·
Microcontroller-based
Smart Cards Application Outlook (Revenue,
USD Million; 2014 - 2025)
·
BFSI
·
Government
·
Telecommunications
·
Retail
·
Healthcare
·
Hospitality
·
Others
Smart Cards Regional Outlook (Revenue, USD
Million; 2014 - 2025)
·
North America
·
Europe
o
Russia
·
Asia Pacific
·
Rest of the world
Access Press Release of
Smart Cards Market@ www.grandviewresearch.com/press-release/global-smart-card-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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