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Explore smart cards market growing at 8.84% CAGR by 2021

Explore smart cards market growing at 8.84% CAGR by 2021

Smart Cards Market a new research document covering detailed analysis, competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like Americas, APAC, EMEA and important players/vendors such as Gemalto, Giesecke & Devrient, OT-Morpho, and Watchdata. The report will help user gain market insights, future trends and growth prospects for forecast period of 2017-2021.

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Global Smart Cards Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

Complete report on the Smart Cards Market Research Report spread across 82 pages, profiling 12 companies with table of content is now available at www.reportsnreports.com/contacts/d…aspx?name=1159463 .

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Other Prominent Vendors in the market are: ARM, Rambus, CardLogix, DataCard, HID Global, Infineon Technologies, NXP Semiconductors, and Smart Card IT Solutions.

The latest trend gaining momentum in the market is Availability of hybrid smart cards. Hybrid smart cards have dual-interface, which is a combination of contactless and contact interface on a single card.

These cards are used for shared storage and processing of information. Hybrid smart cards eliminate the need for multiple cards.

Large volumes of data and information can be consolidated in a single card. For instance, HID Global offers Crescendo, a highly secure hybrid smart card technology that converges physical and logical access control using multiple integrated chips in a card.

The availability of hybrid cards will increase the adoption of banking and payment smart cards, which will have a positive impact on the global smart cards market.

According to the report, one of the major drivers for this market is Increasing number of cashless transactions. Smart cards are generally deployed with preinstalled data codes for unique identification.

This makes it easy for end-users to use smart cards by swiping the card against the card reader. The card reader immediately analyzes the code and sends it to the system to provide information about the end-user.

Thus, contactless smart cards ease the payment process by providing a user-friendly environment for the end-users.

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Further, the report states that one of the major factors hindering the growth of this market is Increase in competition among vendors. The price of smart cards is remarkably high in regions where there are a few vendors.

On the other hand, there are price wars in regions where the market is fragmented and comprises numerous vendors. The price wars lead to competitive pricing of the smart cards.

The reduced prices adversely affect small-core players and the global smart cards market. Several companies offer low-cost solutions.

Though these vendors claim to offer high-quality products, consumers are doubtful of data security, which can adversely affect its adoption during the forecast period.

This report covers the present scenario and the growth prospects of the global smart cards market for 2017-2021. To calculate the market size, the report considers the revenues generated from the sale and shipment of contact-based and contactless smart cards.

Smart cards are broadly classified into contact-based and contactless cards. Contact-based smart cards have a contact area of approximately 1 square cm and are used by inserting them into a smart card reader.

On the other hand, contactless smart cards function with the help of radio frequency, which eliminates the need for any physical insertion into the card reader.

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?           

What are the key market trends?                                               

What is driving this industry?                                  

What are the challenges to market growth?

Who are the key vendors in this industry space?       

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

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