Global Contactless Smart Card Market to see 30% CAGR to 2019

DALLAS, February 27, 2015 /PRNewswire/ --

ReportsnReports.com adds Global Contactless Smart Card Market 2015-2019 research report that consolidates revenue generated from Government ID, Payment, Transit and Access control to calculate the market size.

The growing need to diminish identity duplication and forgery cases has resulted in remarkable growth in the Global Contactless Smart Card Market. The analysts forecast the Global Contactless Smart Card market to grow at a CAGR of 30.31% over the period 2014-2019.

This report covers the present scenario and the growth prospects of the Global Contactless Smart Card market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of contactless smart cards. The report also covers the global shipment details of contactless smart cards.

A smart card is a pocket-sized card, made of plastic, which is embedded with integrated circuits or microchips. It is used for authentication, identification, data storage, and application processing. Smart cards are classified into two types: contact-based and contactless. Contactless smart cards are embedded with integrated circuits that process and store data and communicate with a terminal via radio frequencies. These cards are used by employing a radio frequency between the card and the reader that needs no physical insertion of the card. Therefore, contactless smart cards have faster applications and are user-friendly. Contactless smart cards are widely accepted and used by major sectors such as BFSI, Government, Transportation, Healthcare, and Defense.

According to the latest report, the number of fraud and forgery cases has increased as technology progresses. Contactless smart cards can provide a one-stop solution to the issue, as these cards are accessed with the help of a PIN and are not easy to decode. Because the information is stored on a parent system, this PIN becomes exceptionally difficult to interpret.

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Several government organizations are making contactless smart card technology mandatory for passports and driver's licenses, as it reduces the risk of data theft or identity duplication.

Furthermore, the latest report emphasizes the increased adoption of smart cards in developing countries, which is expected to support market growth. Government agencies in countries like India are increasingly adopting these cards for use as driver's licenses, e-passports, identity cards and voter ID.

Many developing countries are also launching twin smart cards, which are a combination of contactless and contact interfaces and are very easy to handle.

The report consolidates the revenue generated from the following major applications: Government ID, Payment, Transit and Access control.

The report Global Contactless Smart Card Market 2015-2019 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, North America, and the MEA region; it also covers the Global Contactless Smart Card market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

Key Regions:  APAC, Europe, Latin America, MEA, North America

Key Vendors: ASK, Gemalto, Giesecke & Devrient, Morpho, Oberthur Technologies and Watchdata System

Other Prominent Vendors: Advanced Card Systems, CardLogix, DataCard, Infineon Technologies, NXP Semiconductors, Secura Key, Sony Felica and SpringCard.

Market Driver - Increase in Number of Identity Duplication

Market Challenge - Complex Technology of Smart Card Chip

Market Trend - Adoption of Smart Cards in Developing Countries

List of Exhibits: 

Exhibit 1: Market Research Methodology
Exhibit 2: Product Lifecycle of Contactless Smart Cards
Exhibit 3: Global Smart Card Market 2014-2019 (US$ million)
Exhibit 4: Global Smart Card Market 2014-2019 (units in million)
Exhibit 5: Global Smart Cards Market by ASP 2014-2019(US$)
Exhibit 6: Share of Contactless Smart Card in Global Smart Card Market 2014-2019 (revenue)
Exhibit 7: Share of Contactless Smart Card in Global Smart Card Market 2014-2019 (unit shipment)
Exhibit 8: Global Contactless Smart Cards Market 2014-2019 (US$ million)
Exhibit 9: Global Contactless Smart Cards Market 2014-2019 (units in million)
Exhibit 10: Global Contactless Smart Cards Market by ASP 2014-2019(US$)
And more.

Other Related Reports: 

Global Smart Card Market in Government Sector 2015-2019: Analysts forecast the Global Smart Card market in the Government sector will grow at a CAGR of 10.4 percent by revenue and 8.5 percent by unit shipments over the period 2013-2018.

The Global Smart Card market in the Government sector can be divided into three segments: e-passport, e-DL and e-ID. These are the major applications of smart cards in the Government sector.

Key Vendors: Gemalto NV, Giesecke & Devrient GmbH, Oberthur Technologies and Morpho SA

Other Prominent Vendors: DataCard Corp., Eastcompeace Technology Co. Ltd., IRIS Corp. Bhd, Muehlbauer AG

Smart Card Market in Latin America 2015-2019: Analysts forecast the Smart Card market in Latin America to grow at a CAGR of 8.8% over the period 2014-2019.

The report covers the present scenario and the growth prospects of the Smart Card market in Latin America for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of the following type of smart cards: Contact-based and Contactless.

The report consolidates the revenues generated from the following major sectors: BFSI Sector, Government Sector and Transportation Sector.

The market is highly fragmented with the presence of a large number of small and large vendors. Therefore, the report does not provide the market share of the vendors; it only lists the key vendors in the market.

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