Smart Card Market 2021 Global Competition and Business Outlook - CardLogix Corporation, Watchdata Technologies, Bundesdruckerei GmbH, Intelligensa Group

Market Insights Reports has added new statistical data to its repository titled as, Global Smart Card Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The Smart Card market report covers the post-COVID-19 impact on various regions and major countries and on the future development of the industry is pointed out.

The global smart card market (henceforth, referred to as the market studied) was valued at USD 8.51 billion in 2020, and it is expected to reach USD 12.08 billion by 2026, registering a CAGR of 6.19%, during the period of 2021-2026.

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Top Key Players in the Global Smart Card Market 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., HID Global (Assa Abloy AB), Sony Corporation, and others. 

Industry News and Update:

- 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 NXP’s 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.

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 card’s 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 Witness Highest Growth

- 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, China’s leading payment platform, was serving more than 1.2 billion customers. China’s ID cards feature an embedded chip and digital encryption. The card contains personal information, including the individual’s full name in the Chinese characters, gender, ethnicity, date of birth, domicile, identification number, and a color photo.

Full Browse the report description and TOC:

https://www.marketinsightsreports.com/reports/05202906179/smart-card-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=A28            

This Global Smart Card Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place.                              

Frequently Asked Questions about Global Smart Card market:

– What are the recent developments and government policies?
– Why might we forecast a downturn in a particular economy next year?
– Why do we say the currency is set to appreciate?
– What countries and sectors offer the highest potential?
– Where are the greatest dangers?              

We Also Offer Customization on report based on specific client Requirement:

– Free Country Level analysis for any 5 countries of your choice.

– Free Competitive analysis of any 5 key market players.

–  Free 40 analyst hours to cover any other data point.

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About Us:

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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