Powered Smart Card Analysis By Manufacturers Gemalto NV, Giesecke & Devrient, Oberthur Technologies, and Morpho

A smart card or chip card is an IC-based card, which accumulates and retrieves information using various computer systems. Smart cards are cost-effective device to store, manage, and maintain credentials for end users. Many smart cards include a pattern of metal contacts to electrically connect to the internal chip. Smart cards typically find applications in mobile phones, identification cards, computer security, healthcare, public transit, and schools. There are different types of smart cards used available in the market namely contactless smart cards, dual smart cards, and hybrid smart cards. Contact less smart cards are self-powered devices, offering enhanced security over contact smart cards. Furthermore, dual smart cards are a combination of contact and contactless smart cards, while hybrid cards are multifunction cards.

The global powered smart card market was estimated to account for US$ 4,406.1 Mn in terms of value by the end of 2019

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Increasing demand for secure and reliable payment transaction platforms across BFSI and retail sectors is expected to drive growth of the global powered smart cards market during the forecast period
Internet access has become convenient and usage has increased the sustainability due to increasing demand for online banking & shopping experience and rising access to e-government services. Increasing adoption of e-commerce services has increased the frequency of online payments globally in the recent past. According to Coherent Markets Insights Analysis, mobile payments are expected to reach US$ 617 Bn in terms of transaction value by 2016 end. Growth is anticipated to be mainly driven by increasing adoption of NFC77 technology in the U.S. and the global consumer market.

Growing mobile phone connection subscribers around the globe are expected to propel the global powered smart card market growth over the forecast period
SIM cards used in the telecommunication industry are smart cards that are based on memory chips. Growing penetration of smartphones worldwide has increased the demand for SIM cards. This, in turn, is expected to propel the global powered smart card market over the forecast period, as the telecom industry majorly contributes in terms of service. Moreover, SIM cards enabled with NFC technology and supporting contactless payments are rapidly gaining global traction. For instance, in March 2015, Vodafone announced that its customers will be able to perform contactless payments, which will require a Vodafone NFC-enabled SIM card and be supported by various Android devices.

Asia Pacific region dominated the global powered smart card market in 2019, accounting for 44.7% share in terms of value, followed by Europe, and Middle East and Africa respectively

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