Contactless Smart Card Market

Contactless Smart Card Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment; 2018 - 2028

  • Ongoing
  • September 2020
  • REP-GB-9060
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This Contactless Smart Card market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Contactless Smart Card market.

Contactless Smart Card Market: Introduction

Today, contactless technology has become a major part of most people's daily lives. When high validation speed, secure systems and high throughput are required, contactless technology is a must. One such technology is a contactless smart card, which includes an internal memory, small antenna and a fixed smart card secure microcontroller and is connected to a reader through a contactless RF interface. Contactless smart card has the capability to perform on-card functions, securely store, access and manage data on the card and interact perceptively with a contactless smart card reader.

Globally, adoption of contactless smart card technology has improved intensely in the last five years owing to the convenience and speed of RFID cards in the identification, education, transportation, and retail sectors. Additionally, a contactless smart card is used in the application that requires secure transactions, protect personal information, such as corporate and government identification cards, financial payment cards, transit fare payment cards, and visas & electronic passports.

Contactless Smart Card Market: Market Dynamics

Drivers:                                                             

Growing demand for reliable and secure contactless payment options across several end-user industries is anticipated to be a prime factor that will drive the growth of the contactless smart bank card market over the forecast period. Moreover, contactless smart cards reduce fraud, enhance security and allow utilization of value-added services by consumers. This is also anticipated to surge the demand for contactless smart cards in the coming years. Additionally, growing demand for tamper-resistant cards will also give traction to the contactless smart card market during the forecast period. That apart, ever-growing end-use industries, such as banking, transportation, retail, healthcare, etc., both in emerging and developed economies, will further drive the growth of the contactless smart card market over the forecast period.

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Restraints:

Limited acceptance of capital intensive PoS (Point of Scale) terminals is hampering the adoption of contactless smart cards at merchant stores. It is estimated that only 10% of the U.S. merchants have upgraded to new EMV terminals supporting contactless and contact EMV cards. Additionally, growing price-based competition and high implementation cost are the other factors anticipated to restrain the growth of the contactless smart card market during the forecast period. Moreover, lack of commercialization in emerging economies is another factor expected to hamper the growth of the contactless smart card market in the coming years.

Opportunities:

Growing adoption of smart cards by consumers and increased popularity of e-commerce will create significant opportunities for the contactless smart card manufacturers in the coming years.

Contactless Smart Card Market: Segmentation

The global contactless smart card market can be segmented on the basis of type, frequency and end-users.

On the basis of type, the global contactless smart card market can be segmented as:

  • Memory Based Cards
  • Proximity Cards

On the basis of frequency, the global contactless smart card market can be segmented as:

  • Low Frequency Cards
  • High Frequency Cards
  • Ultra High Frequency Cards

On the basis of end-user, the global contactless smart card market can be segmented as:

  • Transportation
  • Banking
  • Retail & loyalty
  • Entertainment
  • Government
  • Energy & Utility
  • Healthcare

Contactless Smart Card Market: Regional Outlook

The growth of the global contactless smart card market is directly dependent on growing demand from end-user sectors. Over the forecast period, significant growth in demand for contactless smart cards, especially from Asia Pacific region, is expected. Increasing applications of contactless smart cards for government applications in India and China is another key driver in the Asia Pacific contactless smart card market. The market in North America is estimated to witness significant growth over the forecast period owing to the growing presence of a large number of established contactless smart card players. The market in Europe is anticipated to witness remarkable growth in the contactless smart card market over the forecast period.

Contactless Smart Card Market: Market Participants

Some of the market participants identified across the value chain of the global contactless smart card market are Advanced Card Systems, ASK, CardLogix, Cardzgroup, DataCard Corporation, Gemalto NV, Giesecke & Devrient, Morpho, Oberthur Technologies, Paragon Group Limited and Watchdata System, among others.

The contactless smart card report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The contactless smart card report provides analysis and information according to market segments such as geography, type, design, and application.

The contactless smart card report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved
  • Technology
  • Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The contactless smart card report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The contactless smart card report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The contactless smart card report also maps the qualitative impact of various market factors on market segments and geographies.

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Contactless Smart Card Market: Segmentation

The global contactless smart card market can be segmented on the basis of type, frequency and end-users.

On the basis of type, the global contactless smart card market can be segmented as:

  • Memory Based Cards
  • Proximity Cards

On the basis of frequency, the global contactless smart card market can be segmented as:

  • Low Frequency Cards
  • High Frequency Cards
  • Ultra High Frequency Cards

On the basis of end-user, the global contactless smart card market can be segmented as:

  • Transportation
  • Banking
  • Retail & loyalty
  • Entertainment
  • Government
  • Energy & Utility
  • Healthcare

Contactless Smart Card Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions

What research methodology is used to develop the Contactless Smart Card Market report?
  • FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
  • These approaches include accumulating data from both primary and secondary sources
  • Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Contactless Smart Card Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
  • Analysis of several middle market stakeholders for country-wise data

In addition to up-to-date market figures and customized of the Contactless Smart Card Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.

  • Most of the competitors are segregated according to their market share in 'Tier' wise statures.
  • Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.
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