Smart Card Market By Technology (Contact Card, Contactless Card) By Component(Memory- Based, Microcontroller-Based) By Application (Government, Telecommunication, Retail, Healthcare) - Global opportunity Analysis and Industry Forecast, 2018-2023

GLOBAL SMART CARD MARKET was valued at USD 9.47 Billion in the year 2017. Global Smart Card Market is further estimated to grow at a CAGR of 9.55% from 2018 to reach USD 16.36 Billion by the year 2023. Asia Pacific region holds the highest market share in 2017 with Europe region is considered as the fastest growing market in the forecasted period. At a country level, China was the biggest market in 2017 and it is projected to grow at a gradual pace in the coming years.

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American Express Company. (U.S.), Arm Holdings PLC (U.K.), Microchip Technology Inc. (U.S), are some of the key players in the Smart Card market. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top manufacturers in recent years.

Drivers:

• Data Security for the cards
• Flexibility and Multiservice

Restraints:

• Cost and Limitations

Opportunities:

• New and Innovative Card application

Challenges:

• Lack of business case

The Global Smart Card Market is segmented by technology, by component, by application, and by region. In technology type, Contact based smart card is expected to hold the highest market share during the forecast period. On the other hand, by application Telecommunication market for Smart card is expected to grow at the highest CAGR during the year 2018-2023. The driving factors are the strong adoption of subscriber identity module (SIM) cards for mobile phone.

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Key Benefits for Stakeholders

• Smart Card Manufacturers, Distributors and Retailers
• Research and Consulting organization
• Technology Standards Organizations, Forums, Alliances and Associations
• End-use industries
• Regulatory bodies, policy actors, and consumers.

By Technology

• Contact Card
• Contactless Card
• Multi-Component Card

By Component

• Memory-Based
• Microcontroller-Based

By Application

• Banking, Financial Services, and Insurance (BFSI)
• Government
• Telecommunication
• Retail
• Healthcare
• Hospitality
• Transportation
• Pay TV
• Others

By Region

• North America
• Europe
• Asia-Pacific
• ROW

Key Market Players

• American Express Company
• Arm Holdings Plc.
• Microchip Technology Inc. (Atmel Corporation)
• Entrust Datacard Corporation
• Atos SE
• Gemalto N.V.
• CPI Card Group Inc

(A brief overview of another 13 companies is also provided)

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This release was published on openPR.