openPR Logo
Press release

Improved Security is Key Feature Egging Banks and Vendors Towards Smart Cards, reports TMR

12-08-2017 02:07 PM CET | Associations & Organizations

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Improved Security is Key Feature Egging Banks and Vendors

The scope and advantages of using smart cards in the current banking and finance industry are massive. The primary aim of implementing smart card technologies, especially in developed economies, is the introduction of stronger security measures against the growing counts of data theft. The retail and BFSI industries have shown a high demand for smart cards as a feasible security measure.

For more information on this report, fill the form @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=844

The implementation of smart cards can also help introduce multiple cost saving techniques for vendors and the companies that handle the transactions, such as Europay, MasterCard, and Visa. This in turn helps the above companies and similar ones to improve their market penetration and visibility. This flows in conjunction to the rapidly growing number of smartphone users in the world and the presence of a high number of retail apps.

Future opportunities for smart card players will lie in the use of high-end SIMs in cohesion with LTE providers as well as NFC-enabled devices. Players will need to rapidly adopt smart card oriented software and services into their core business strategies to maintain and improve revenue generation.

Through these factors, the global smart cards market is expected to progress at a CAGR of 7.4% from 2016 to 2023 in terms of revenue. This market is expected to reach a value of US$8.5 bn by the end of 2016 and US$14.1 bn by 2023.

LATAM Shows Much Promise in Smart Card Implementation, APAC Maintains Subtantial Market Volume Till 2023

Latin America held the second-lowest share in both revenue and volume in 2014. However, according to the Smart Card Alliance Organization, Latin America currently shows over 70% of market penetration by smart card solutions and services. Most of the LATAM smart card implementations are being done in Brazil, Mexico, and Argentina. These countries therefore show top potential in the use and growth of smart card solutions, making this region highly attractive for global players, especially in contact-based smart cards.

Browse Market Research Report @ https://www.transparencymarketresearch.com/smart-card.html

Asia Pacific contains Australia, South Korea, Hong Kong, and Japan are the top locations for global and regional smart card solutions providers. Meanwhile, India and China, although currently in a nascent stage of smart card implementation, are showing high potential for market penetration due to rapid economic growth and a high population density. Most of the current applications of smart cards in APAC are aimed at the sectors of retail, loyalty, and financial. By the end of 2023, it is expected for smart cards services to perforate into low-end applications, government transactions, and transportation transactions.

Microcontroller-based Smart Cards Expected to Dominate in Components

Dual-interface and contactless smart cards are expected to take over as the mainstay in all smart card utilities in the near future. Contactless smart cards already hold a high rate of use in major parts of the financial services sector. These smart cards make use of microcontrollers due to the higher level of security and reliability that these components can offer. While multiple countries and finance organizations begin the adoption of smart cards, the superior qualities provided by dual-interface cards and contactless cards are being recognized by major financial bodies, further promoting the implementation of microcontroller-based smart cards.

Key players involved in smart card services and technologies include Gemalto NV, Giesecke & Devrient (G&D) GmbH, Infineon Technologies AG, and NXP Semiconductors.

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact TMR

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Improved Security is Key Feature Egging Banks and Vendors Towards Smart Cards, reports TMR here

News-ID: 852377 • Views:

More Releases from Transparency Market Research

Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 - Transparency Market Research
Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth. Uncover essential discoveries and trends from
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Radiopharmaceuticals to Propel Market Expansion | Transparency Market Research, Inc
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth. Discover essential conclusions and data from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100 Analysts' Viewpoint The Technetium‐99m
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to US$ 280 Million by 2030, Driven by Rising Equine Diseases and Diagnostic Advancements
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of 6.1%
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,

All 5 Releases


More Releases for Card

Gift Card and Incentive Card Market Set for Explosive Growth | National Gift Car …
A new business intelligence report released by AMA with title "Gift Card and Incentive Card Market" has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Gift Card and Incentive Card Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through
IC Card/Smart Card Market 2022 | Detailed Report
The IC Card/Smart Card research report combines vital data incorporating the competitive landscape, global, regional, and country-specific market size, market growth analysis, market share, recent developments, and market growth in segmentation. Furthermore, the IC Card/Smart Card research report offers information and thoughtful facts like share, revenue, historical data, and global market share. It also highlights vital aspects like opportunities, driving, product scope, market overview, and driving force. Download FREE Sample Report
Prepaid Card Market by Card Type (Single-purpose prepaid card, and Multi-purpose …
Higher preference of prepaid cards to bank account cards has attributed to cost-effectiveness and flexibility. Moreover, increase in awareness and convenience of these cards enhance the adoption of prepaid cards. Furthermore, emerging applications & acceptance of these prepaid cards for various transactions and increasing popularity among individuals traveling abroad are expected to boost the market growth in the future. A new report published by Allied Market Research, titled, Prepaid Card Market
Prepaid Card Market by Card Type (Single-purpose prepaid card, and Multi-purpose …
Higher preference of prepaid cards to bank account cards has attributed to cost-effectiveness and flexibility. Moreover, increase in awareness and convenience of these cards enhance the adoption of prepaid cards. Furthermore, emerging applications & acceptance of these prepaid cards for various transactions and increasing popularity among individuals traveling abroad are expected to boost the market growth in the future Prepaid Card Market is projected to grow at a CAGR of 22.7%
Card Intelligent Lock Market Report 2018: Segmentation by Type (Magnetic card Lo …
Global Card Intelligent Lock market research report provides company profile for Tri-circle, Dessmann, Royalwand, Bangpai, ZKTeco, Schlage, KEYLOCK, Yale, Tenon, KAADAS, BE-TECH and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also
Prepaid Card Market Report 2018: Segmentation by Card Type (Single-purpose prepa …
Global Prepaid Card market research report provides company profile for Green Dot Corporation, NetSpend Holdings, Inc., H&R Block Inc., American Express Company, JPMorgan Chase & Co., PayPal Holdings, Inc., BBVA Compass Bancshares, Inc. and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and