the Global Smart Card Market is estimated to be $7.4 billion in 2015 and is expected to reach $13.1 billion by 2022 growing at a CAGR of 8.5% from 2015 to 2022. Factors such as growing demand for secure & reliable payments, technology advancement, rising number of mobile phone subscribers and increasing penetration of mobile phones in emerging economies are driving the market growth.
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However, price pressures and technological challenges are inhibiting the growth of Smart card market.
Retail and BFSI industry segments are the fastest growing segments of smart card market.
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From application side, telecom sector mainly 3G dominates the smart card use, while from growth perspective transportation sector remains the most dynamic sector. Payment chip-card market shows an apparent swing towards contactless and converging applications.
Contactless payment can be performed with smart cards and with mobile devices. In meticulous, the demand for Dual Interface (DIF) payment cards is growing.
The key players in the global smart card market are Siemens IT solutions and services, Sony corp, Datacard corp, Renesas Electronics, Arm Holdings PLC, Atmel Corporation, Diebold Corporation, Fujitsu Ltd., Gemalto NV, Giesecke & Devrient GMBH, Infineon Technologies AG, Ingenico SA, Inside Contactless S.A, MORPHO (SAGEM ORGA), Oberthur Technologies Group, Samsung Electronics, Stmicroelectronics N.V., Thales SA, Verifone System INC, Watchdata System CO., LTD, American Express Company, Atos SE, NXP Semiconductors NV, Texas Instruments, Inc. and CPI Card Group Inc.,
Banking, Financial Services and Insurance (BFSI)
Contact Smart Card
Contactless Smart Card
Hybrid Smart Card
Dual-interface Smart Card
Rest of Europe
Rest of Asia Pacific
Rest of the World
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