Smart Card Market By Technology (Contact Card, Contactless Card) By Component(Memory- Based, Microcontroller-Based) By Application (Government, Telecommunication, Retail, Healthcare).
Global Smart Card Market was valued at USD 9.47 Billion in the year 2017. Global Smart Card Market is further estimated to grow at a CAGR of 9.55% from 2018 to reach USD 16.36 Billion by the year 2023.
Asia Pacific region holds the highest market share in 2017 with Europe region is considered as the fastest growing market in the forecasted period. At a country level, China was the biggest market in 2017 and it is projected to grow at a gradual pace in the coming years.
American Express Company. (U.S.), Arm Holdings PLC (U.K.), Microchip Technology Inc. (U.S), are some of the key players in the Smart Card market.
Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top manufacturers in recent years.
Data Security for the cards
Flexibility and Multiservice
Cost and Limitations
New and Innovative Card application
Lack of business case
The Global Smart Card Market is segmented by technology, by component, by application, and by region. In technology type, Contact based smart card is expected to hold the highest market share during the forecast period.
On the other hand, by application Telecommunication market for Smart card is expected to grow at the highest CAGR of X.X during the year 2017-2022. The driving factors are a strong adoption of subscriber identity module (SIM) cards for mobile phone.
Key Benefits for Stakeholders
Smart Card Manufacturers, Distributors and Retailers
Research and Consulting organization
Technology Standards Organizations, Forums, Alliances and Associations
Regulatory bodies, policy actors, and consumers.
Banking, Financial Services, and Insurance (BFSI)
Key Market Players
American Express Company
Arm Holdings Plc.
Microchip Technology Inc. (Atmel Corporation)
Entrust Datacard Corporation
CPI Card Group Inc
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