Global Smart Cards Market – Key Players are Gemalto NV, Infineon Technologies AG

Leading companies in the global smart market cards technologies and solutions have come up with strategies that concentrate on contactless, contact, and dual interface services. The four dominant companies in the global market for smart cards are Gemalto NV, Infineon Technologies AG, NXP Semiconductors NV, and Giesecke & Devrient (G&D) GmbH. These four companies cumulatively hold majority of share in the all the key geographical regions pertaining to the use of smart cards and terminals of smart cards.

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The overall competitive landscape of the global market for smart cards is considered to be highly competitive and has been consistently bossed by the four players mentioned before. However, players in the global market are presently vying to sustain high standards and deploy smart card based software and services as a part of their elemental business strategies. On the other hand, the spectrum of growth of new market entrants such as Eastcompeace Technology Co. Ltd. and Watchdata that are making improvements in their respective businesses, are giving a tough fight to the established players by introducing newer solutions that are designed to fit the way customers want to conduct their transactions on a day to day basis.

The global market for smart cards stood at an overall valuation of US$8.5 bn in the year 2016. This valuation was expected to grow and reach a figure worth US$14.1 bn by the end of 2023. This considerable growth of the global smart cards market in terms of value is expected to be achieved with the help of an impressive CAGR of 7.4% over the course of the given forecast period of 2016 to 2023.

In terms of type of smart cards, the segment of contactless smart cards is expected to show a most promising CAGR of 11.5% over the course of the given forecast period of 2016 to 2023 with respect to generation of revenue. However, the segment of contact smart cards is expected to sustain its rank of top earning segment for the same period of forecast, and is estimated to reach an overall market valuation worth US$7.7 bn by the fall of 2023.


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