Global Smart Card Industry was valued at USD 9.47 Billion in the year 2017. Global Smart Card Industry is further estimated to grow at a CAGR of 9.54% from 2018 to reach USD 19.63 Billion by the year 2025.
Asia Pacific region holds the highest Industry share in 2017 with Europe region is considered as the fastest growing Industry in the forecasted period. At a country level, China was the biggest Industry in 2017 and it is projected to grow at a gradual pace in the coming years.
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The major players in Smart Card Industry are American Express Company, Arm Holdings Plc., Microchip Technology Inc. (Atmel Corporation), Entrust Datacard Corporation, Atos SE, Gemalto N.V., CPI Card Group Inc.
Other 13 company’s detailed information is provided in research report). 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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SWOT Analysis of Smart Card Industry
Data Security for the cards
Flexibility and Multiservice
Cost and Limitations
New and Innovative Card application
Lack of business case
The Global Smart Card Industry is segmented by technology, by component, by application, and by region. In technology type, Contact based smart card is expected to hold the highest Industry share during the forecast period.
On the other hand, by application Telecommunication Industry for Smart card is expected to grow at the highest CAGR during the year 2018-2025. The driving factors are the strong adoption of subscriber identity module (SIM) cards for mobile phone.
Banking, Financial Services, and Insurance (BFSI)
- • USA
- • Canada
- • Germany
- • U.K.
- • France
- • Italy
- • Rest of Europe
- • China
- • India
- • Japan
- • Rest of Asia-Pacific
- • Latin America
- • Middle East & Africa
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