Smart Card Market Precise Outlook 2020- Watchdata Technologies, Bundesdruckerei GmbH, Intelligensa Group, Austriacard (Inform Lykos)

The Global Smart Card Market Research Report 2020-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.

The global smart card market (henceforth, referred to as the market studied) was valued at USD 8.14 billion in 2019, and it is expected to reach USD 11.50 billion by 2025, registering a CAGR of 6.19%, during the period of 2020-2025.

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Top Companies in the Global Smart Card Market are Watchdata Technologies, Bundesdruckerei GmbH, Intelligensa Group, Austriacard (Inform Lykos), Alioth LLC, Gemalto NV (Thales Group), Giesecke & Devrient GmbH, Idemia France SAS (Advent International), Bartronics India Limited, CPI Card Group Inc., Eastcompeace Smart Card Co. Ltd_, HID Global (Assa Abloy AB)_, Sony Corporation_ and Other

Key Market Trends

Contactless Smart Card is Expected to Drive the Market

- Contactless smart cards differ from contact-based smart cards because the chip is not visible on the card. Instead, the chip and its antenna are embedded within the cards body. The card is waved over an RFID reader instead of inserted like a contact card. When the contactless card passes through the specifically tuned RFID field, the antenna powers up the chip and relays its information to the application.
- Furthermore, account information is transmitted wirelessly over radio frequency (RF). The consumer's contactless payment device can assume a variety of form factors, including cards, near field communication (NFC)-enabled smartphones, and wearables. Contactless transactions are cryptographically secure and generate a unique code for each transaction.
- Moreover, contactless is finding its place globally, particularly in transit. For instance, the Metropolitan Transportation Authority (MTA) reported that the OMNY system surpassed 5 million total taps in January, since the start of the pilot. Though transit is a major driver of the technology, acceptance is still not uniform in other retail outlets.
- Additionally, in the beginning of 2020, Helsinki Regional Transport signed a deal with LittlePay to introduce contactless smart payments across all modes of transport in Finland's capital, as part of a three-year deal. Work has already started on the roll-out across Helsinki's ferry, rail, and bus systems. Furthermore, the introduction of contactless payments is seen as a vital way in boosting the use of public transport.

Asia-Pacific to be the Fastest Growing Market during the Forecast Period

- Emerging economies across Asia-Pacific are set to offer potential opportunities for the growth of the smart card market, owing to the growth of a robust financial system that is getting increasingly digitized and push by the government agencies to incorporate smart chip-based systems for better monitoring of processes.
- China has been one of the pioneers in phasing out checks and introducing contactless payments, leading to the introduction of digital cards. In November 2019, Alipay, Chinas leading payment platform, was serving more than 1.2 billion customers. Chinas ID cards feature an embedded chip and digital encryption. The card contains personal information, including the individuals full name in the Chinese characters, gender, ethnicity, date of birth, domicile, identification number, and a color photo.
- Enterprises across the region are also involved in partnerships to expand their services to China. For instance, IDEX Biometrics and Goldpac partnered to introduce dual-interface biometric smart cards to the customers in China and beyond. In addition, the company also teamed up with Excelsecu, a Shenzhen-based security solutions provider specializing in security solutions, including FIDO-based security keys, one-time password systems, and smart cards._
- The developing regions, including India, are likely to propel the demand. For instance, in 2018, the Madhya Pradesh government in India announced the distribution of smart cards to 17.6 million workers in the unorganized sector in the state. The new cards are claimed to have more exhaustive information printed on both sides of the cards while bearing a unique number recognized across the country. The Government of Chhattisgarh also introduced an e-card that can be used by citizens to get health services._

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Significant Features that are under Offering and Key Highlights of the Reports:
• Detailed overview of Smart Card Market
• Changing Smart Card market dynamics of the industry
• In-depth market segmentation by Type, Application, etc.
• Historical, current, and projected Smart Card market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape of Smart Card Market
• Strategies of key players and product offerings
• Potential and niche segments/regions exhibiting promising growth.

Finally, Smart Card Market report is the believable source for gaining market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Smart Card industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

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