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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

08-14-2018 10:09 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Genesis market insights

Smart Card Market

Smart Card Market

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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About Us:

Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in house data validation tools, GMMR has delivered actionable, reliable and all-inclusive Market Research Reports. GMMR is growing strongly for last 2 decades with most of the clients providing repeat business for their trust on the data quality and recommendations for decision making.

Contact Us;

Genesis Market Insights (GMI)
902 Broadway, 6th Floor,
New York, NY 10010
(212) 634-4560
Mail us at: info@genesismarketinsights.com
Website: www.genesismarketinsights.com

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