This Smart Card in Government 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 Smart Card in Government market.
Smart Card in Government Market: - An Overview
Smart Card is a plastic hand- held device that consist of integrated circuits chips, which performs the function of memory, microprocessor, and input/output interface. Smart cards are portable, integrated device that are capable of storing crucial information and have certain data processing capabilities.
Smart card in government is used to provide security in applications that requires controlled access to sensitive information. Smart cards help security enhancement, reduce frauds, and enable the utilization of value-added services for government.
Smart cards can be used as identification cards as chip embedded in a smart card can provide a large amount of data for the identification of a person. Smart card application in government include e-ID card, e-passport, e-driving license, Voter ID, Transport Card.
Impact of COVID-19 Pandemic Outbreak on Smart Card in Government Market
The production of smart cards is impacted due to worldwide spread of COVID-19 pandemic in Q1, 2020. Historically, the shipments for smart cards has grown at a CAGR of 8% globally in the past 5 years. In 2019, the total shipments of smart cards are estimated to be nearly 11 Bn units globally, an increase by 8% over 2018.
But due to the COVID-19 outbreak, production of smart card is projected to decline by nearly 4%-8% in Q1-Q2 2020, due to impact of COVID-19 on American and European smart card manufacturing companies. However, according to estimates, if the COVID-19 pandemic situation gets controlled during Q3-Q4, 2020, the market for smart cards would recover soon and is estimated return to growth by Q2, 2021.
For this, the manufacturers and suppliers across the world, have to adapt themselves to the real economic impact of COVID-19 on the entire smart card market value-chain. For instance, due to wide adoption of contactless smart cards that eliminates the physical contact for doing transactions will increase opportunities for the smart cards providers in the pandemic situation.
Smart Card in Government Market: - Market Dynamics
Increasing demand for e-passport is spurring the growth of Smart Card in Government market
Demand is increasing for e-passport as the e-passport includes embedded electronic microprocessor chip that contains biometric information which is used to authenticate the identity of the person. Moreover, the demand of e-passport is also increasing as it helps in protecting identity theft, privacy and make it difficult to alter a document. The biometric data contained in the electronic chip compares the traveler and documents presented by the traveler.
Governments that issue e-passport gains a security benefit with regard to the population, as the passport issuing authority is able to track passport and application through all stages of the passport issuing process. This has potential benefits in verification of citizenship, fee control, blank passport control and in other ways that automation can be used to increase efficiency and reduce the workload. However, increasing demand of e-passport is spurring the growth of smart card in government market.
Usage of smart cards as organized information is increasing the demand of smart cards in government
Owing to safety and security issues, smart cards in government have the ability to provide complete identification. Smart cards in government can be used as identification cards, for example, if a policeman stops someone for any reason, a driver's license created using the smart card technology can enable the immediate identification of a person’s credentials. The chip embedded in a smart card can provide a large amount of data for the identification of a person.
Smart cards are used as identification cards as they include vital information such as the health status, insurance, as well as retirement benefits of holders. Smart cards technology is accepted by several governments of emerging economies as well as developed countries. Smart cards provide several benefits to commuters, which include reduction in travelling time and improvements in service efficiency. They also help governments and transport services collect the travel data of commuters.
Smart Card in Government Market: - Key Players
- The key players in the Smart Card in Government are
- NXP Semiconductor
- Infineon Technologies
- Inside Secure
- CPI Card Group Inc.
- WatchData Technologies
- BC Card
- CardLogix Corporation
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global Smart Card in Government market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with Smart Card in Government market attractiveness as per segments. The report on Smart Card in Government market also maps the qualitative impact of various factors on Smart Card in Government market segments and geographies.
Smart Card in Government Market- Report Highlights:
- A detailed overview of parent market of Smart Card in Government market
- Changing Smart Card in Government market dynamics in the industry
- In-depth segmentation of the Smart Card in Government market
- Historical, current, and projected Smart Card in Government market size by value
- Recent industry trends and developments in Smart Card in Government market
- Competitive landscape of the Smart Card in Government market
- Strategies for key players in Smart Card in Government and solutions and services offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Smart Card in Government market performance
- Must-have information for Smart Card in Government market players to sustain and enhance their market footprint
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Smart Card in Government Market: - Segmentation
By Type, Smart Card in Government Market is segmented into-
- Dual Smart Cards
- Contactless Cards
- Hybrid Cards
By Component, Smart Card in Government Market is segmented into-
- Microcontroller Cards
- Memory-based Cards
By Application, Smart Card in Government Market is segmented into-
- Electronic Driving License
- Electronic Passport
- Electronic Identity Card
- Electronic Health Card
Frequently Asked Questions
What research methodology is used to develop the Smart Card in Government 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 Smart Card in Government 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
What else does FMI offer apart from Smart Card in Government Market report?
In addition to up-to-date market figures and customized of the Smart Card in Government Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- 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.