Smart Cards Market Will Grow at a CAGR of more than 7.0% by 2023

New York, March 01: Market Research Engine has published a new report titled as “Global Smart Cards Market Analysis by Strategy, Application and Geography - Trends and Forecast, 2015 – 2023”

The smart cards market is expected to exceed more than US$14 billion by 2023 growing at a CAGR of more than 7.0% in the given forecast period from 2015 to 2023.

Browse Full Report: https://www.marketresearchengine.com/reportdetails/smart-cards-market

Smart card is a type of chip-card or a plastic card which contains embedded micro chip includes microprocessor or memory type. It stores and manages data used in different applications such as in electronic cash payments, telephone calling and more. Smart card presents data storage, authentication and personal identification; it may have contactless or contact smart card. It provides high security authentication over large organizations. Smart cards can used in different application and occupies large data compare to magnetic stripe. Smart cards which are programmed and contain data are used for different applications. Some smart cards are updated later to include new applications. Smart cards develop the expediency and security of any transaction. They give tamper proof storage of consumer data and account information. It is more reliable compare to other machine readable cards

The major driving factors of smart cards market are as follows:

• Increasing mobile phone subscriber globally
• Increasing interest for high capability SIM card
• Rising demand for reliability and security
• Support multi application by NFC

The restraints factors of smart cards market are as follows:

• Slow appearance of standards
• Cost attrition
• High cost of transfer into smartcard friendly readers which minimize the acceptance of smartcard

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The smart cards market is segmented on the lines of its component and application. The component segment for smart card includes microprocessor and memory smart cards component. The smart cards market is segmented on the lines of its application like telecommunications, government IDs, healthcare, financial services, retail, pay TV and transportation sector. The smart cards market is geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.

This report provides:

1) An overview of the global market for smart cards and related technologies.

2) Analyses of global market trends, with data from 2013, estimates for 2014 and 2015, and projections of compound annual growth rates (CAGRs) through 2023.

3) Identifications of new market opportunities and targeted promotional plans for smart cards

4) Discussion of research and development, and the demand for new products and new applications.

5) Comprehensive company profiles of major players in the industry.

REPORT SCOPE:

The scope of the report includes a detailed study of global and regional markets for various types of coatings with the reasons given for variations in the growth of the industry in certain regions.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Gemalto NV, Giesecke & Devrient (G&D) GmbH, Infineon Technologies AG, and NXP Semiconductors. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.

The Top Companies Report is intended to provide our buyers with a snapshot of the industry’s most influential players.

The Smart cards Market has been segmented as below:

By Component Analysis

Microprocessor
Memory smart cards

By Application Analysis

Telecommunications
Government IDs
Healthcare
Financial services
Retail
Pay TV
Transportation sector.

By Regional Analysis

North America
Europe
Asia-Pacific
Rest of the World

About MarketResearchEngine.com

Market Research Engine is a global market research and consulting organization. We provide market intelligence in emerging, niche technologies and markets. Our market analysis powered by rigorous methodology and quality metrics provide information and forecasts across emerging markets, emerging technologies and emerging business models. Our deep focus on industry verticals and country reports help our clients to identify opportunities and develop business strategies.

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This release was published on openPR.