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Smart card market value set to reach industry expectations according to new research report

Industrial Market Research

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 Make an Inquiry about this news 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.

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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.

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Key Benefits for Stakeholders

Smart Card Manufacturers, Distributors and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors, and consumers.

By Technology

Contact Card                 

Contactless Card                       

Multi-Component Card

By Component



By Application

Banking, Financial Services, and Insurance (BFSI)           







Pay TV             


By Region

North America




Key Market Players

American Express Company

Arm Holdings Plc.

Microchip Technology Inc. (Atmel Corporation)     

Entrust Datacard Corporation     

Atos SE

Gemalto N.V.

CPI Card Group Inc

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News From

Genesis Market InsightsGenesis Market Insights
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