Smart Card Market Is Booming Worldwide by 2025 | CardLogix Corporation, Watchdata Technologies, Bundesdruckerei GmbH, Intelligensa Group

The Smart Card market is a comprehensive market research report which provides market analysis with a historical & futuristic perspective for the following parameters; market size, revenue, demand, and supply data (as applicable). The report offers a detailed market analysis to provide a 360-degree research study on the global Smart Card market. Some of the tools used for this are SWOT, PESTEL, and Porter's 5-forces analysis frameworks. The report includes detailed information on the key trends, market drivers, challenges, regulatory landscape, deployment models, opportunities, future roadmaps, value chains, player profiles, and strategies. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Smart Card from 2021 till 2026.

Top leading Manufacturers Profiled in Smart Card Market Report are: CardLogix Corporation, 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?

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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

Regional Analysis

Segment by Type
One-Time Password (OTP) Display Card
Multifactor Authentication (MFA) Display Card

Segment by Application
BFSI
Government & Public Utilities
Transportation
Others

Regional Analysis for Smart Card Market:

For a comprehensive understanding of market dynamics, the global Smart Card market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

Market Overview

In the past decade, the information age has witnessed an array of security and privacy issues that have called for advanced smart card security applications. In addition to this, the advent of multifunction cards has allowed managing network system access and store value and other data.

- The need for security of applications that employ critical information, documents, and credential is leading to an increasing adoption of smart contact-less card technology, as they enhance security through encryption and communication between the smart card device and the card reader. ?

- Apart from this, smart cards are increasingly getting deployed as a tool of stored value, particularly in loyalty programs across various sectors, like transportation, parking, and retail that track data and offer incentives to retain their customer bases.?

- The growing need for convenience and security regarding transactions has made the adoption of smart cards highly relevant. It is gaining more prominence over other machine-readable cards, as the former requires a much lower cost of maintenance.

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News and Updates

- February 2020- Bundesdruckerei GmbH collaborated with Gematik GmbH to set up and operate the key generation service 2 (SGD2) for the ePA as a service of the telematics infrastructure (TI) for the electronic health card.

- October 2019 - CardLogix has started looking for clients owing to the official release of NXPs latest generation Java Card OS, JCOP 4 technology backed smart cards with custom applet development and existing applet support. JCOP 4 smart cards deliver benchmark transaction performance for EMV payments and other high-speed applications.

- In September 2019, Standard Chartered Bank launched DigiSmart credit card that focusses on the convenience needs of the millennials segment. This credit card has been designed to offer instant benefits across key e-commerce categories of travel, entertainment, fashion, groceries and food delivery throughout the year.

Regional Analysis

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.

What is the Impact of Covid-19 Outbreak on the Smart Card?

- Optimistic Scenario: COVID-19 is contained by May or June, With Normalcy returning to global operations through the End of Q2.
- Conservative Scenario: COVID-19 Remains Prevalent, with Continued Impacts Lasting into Q4.
- Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Global Smart Card.
- Smart Card Market Size in 2021
- Corporate Strategy the Manufacturers Should Be Thinking About Right Now.

Frequently Asked Questions about the Smart Card market:

- What are the recent developments and government policies?
- What are the top trends in the Smart Card market?
- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the Smart Card market?
- Which region would offer high growth for vendors in the market?

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The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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Smart Card Market Is Booming Worldwide by 2025 | CardLogix Corporation, Watchdata Technologies, Bundesdruckerei GmbH, Intelligensa Group

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