Press release
Advancement in Technology to Boost Global Smart Cards Market
‘Smart Card’ are cards with embedded integrated circuit, used to accumulate and retrieve information. These embedded circuits can either be memory chip- or microcontroller-based. Microcontroller-based smart cards are preferred over memory-based owing to ability to store large amounts of data and efficient functionality of secure encryption and mutual authentication. Microcontroller cards interact with smart card readers for transaction of data. Contact smart cards require physical interaction with the reader; however, contactless smart cards have embedded antenna to enable communication with the reader, without physical contact. Dual smart card are a combination of contact and contactless smart cards; whereas hybrid smart cards are cards with multifunctional applications. Extensive functionality, secure and encrypted storage, and robust adoption of smart cards across application such as government, payment, telecom, transportation, entertainment, energy & utility, and telecom applications are boosting sales of smart card across the globe.To understand and assess the opportunities in this market, the report is categorically split into four segments namely market analysis, by product type, component, end use and access type. The report analyzes the market performance of smart card market in terms of market value (US$ Mn) and volume (Mn Units).
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The smart card market also covers the smart card market value chain along with a comparative analysis of smart card technologies such as near field communication (NFC) & machine-to-machine (M2M) and comparative analysis of smart card components memory-based and microcontroller-based smart cards. The section also includes PMR’s analysis of the key trends, drivers, and restraints from the supply and demand perspective.
In 2015, among the different card type segments, contact-based card segment is expected to contribute highest in terms of revenue. The segment was valued at US$ 5,049.7 Mn and is estimated to reach a market value of US$ 8,124.4 Mn by the end of 2024. The micro-controller card segment was valued at US$ 5,626.1 Mn in 2015 and expected to expand at CAGR 8.8% to reach value of US$11,108.0 Mn by 2024 end. In 2015, the telecommunication segment accounted for 48.7% value share of the overall smart card market in 2015, which is expected to increase to 53.5% by the end of 2024.
In terms of volume, the Asia Pacific smart card market dominated the overall market in 2015, and is expected to sustain its dominance over the forecast period. The smart card market in Asia Pacific is estimated to contribute 49.3% in terms of volume (Mn units) by 2024 end. In 2015, among the different access type, sales of logical access card is expected to reach 10,223 Units by 2024 end exhibiting CAGR of 9.5%.
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Key players in the smart card market include NXP Semiconductors N.V., Infineon Technologies AG, Gemalto N.V., Insidesecure SA, CPI Card Group Inc., Morpho SA, Oberthur Technologies, Giesecke, and Devrient GmbH Watchdata Technologies among other players.
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