Smart Cards Market Key Players, End User, Demand and Consumption By 2027

Smart Cards Market Insights:

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments including communication, component, application, and regions.

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Leading Players in the Smart Cards Market:

The Smart Cards Market is fairly fragmented, and a number of global and regional players operating in the market are:

NXP Semiconductors
Giesecke+Devrient GmbH
Idemia
Infineon Technologies AG
Sony Corporation
Samsung Electronics Co., Ltd
Ingenico Group SA
VeriFone, Inc.
Zwipe AS
WATCHDATA Co., Ltd.

Smart Cards Market drivers:

The smart card market is witnessing a strong demand during the forecast period due to advancements in micro-embedded electronics, the increasing adoption of Internet-of-Things (IoT), and the use of devices integrated with embedded circuit chips that allow organizations to facilitate authentication, secure payment facilities, and information storage to their consumers. Moreover, the rising demand for identification cards to avail government facilities and the provision of licenses, the digitization in government processes, healthcare and social benefit documentations to people in the form of smart cards by the government authorities are supporting the smart cards market growth.

The emerging trend of organizations toward the efficient storage of personal data, digitalization of payment processes together with the growing consumer shift toward cashless payments are further enhancing the demand for smart cards in several verticals, including retail, healthcare, BFSI, transportation, and hospitality sectors. In addition to this, the emergence of the COVID 19 pandemic is projected to propel the growth of the smart card market due to an increase in demand for contactless payments among consumers. On the other hand, high costs in the deployment of EPOS (electronic point of sale system) terminals and the rising adoption of mobile wallets and payment applications will hinder the demand for smart cards in the upcoming years.

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Smart Cards Market Segmentation:

According to the report published by GMI Research, titled “Smart Cards Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Communication:

Contact Smart Cards
Contactless Smart Cards

By Component:

Hardware

Smart Cards
Smart Card Readers

Software
Services

By Services:

Banking, Financial Services, and Insurance (BFSI)
Government and Healthcare
Transportation
Retail
Others

By Region:

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, be it small and medium enterprises or large organization. Our research team helps the clients to understand the importance and impact of the market dynamics. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use both internal and external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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