Press release
Smart Card Market 2022 | Future Analysis, Growth Outlook and Forecast to 2028
The Smart Card Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Smart Card market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Smart Card market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Smart Card market.The global smart card market was valued at USD 8.14 billion in 2019, and it is expected to reach USD 11.50 billion by 2027, registering a CAGR of 6.19%, during the period of 2022-2027.
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Top Leading Companies of 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 and others.
Industry News and Updates:
- February 2022- 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.
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, 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.
Investigator Observers Strong Growth in Specific Regions:
- Europe Market (Germany, UK, France, Russia, Italy)
- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
- South America Market (Brazil, Argentina, Colombia)
- North America Market (United States, Canada, Mexico)
- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Smart Card Market Size & Analysis (2017 - 2027)
- Market Share Analysis of Smart Card Market (%),2017 - 2027
- Smart Card Market Share, By Brand
- Smart Card Market Share, By Company
- Smart Card Market Assessment & Opportunity (Value),2017 - 2027
- Major Companies Smart Card Market Value Analysis & Forecast
- Promising Smart Card Development by Major Companies
- Detailed Smart Card Portfolio of the Major Companies
- Major Deals in the Smart Card Market
- Major Companies Analysis
Browse Full Report at:
https://www.marketinsightsreports.com/reports/02285852121/smart-card-market-growth-trends-forecasts-2022-2027?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) - Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
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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