Contactless Smart Card Market Worth US $40 Billion by 2027 at 18% CAGR | Industry Forecast by Type, Application, Technology

Contactless Smart Card Market
Global Contactless Smart Card Market Research Report: by type (proximity card & CPU/MPU cards), application (BFSI, government, transportation), technology (smartcard integrated circuits, memory smart card), – Forecast till 2027

Market Highlights

Contactless smart cards use radio frequency identification (RFID) technology to wirelessly communicate with a card reader. A copper or aluminum antenna is connected to an integrated circuit (chip) and then securely laminated inside plastic card body under high heat and pressure. Contactless smart cards range from simple memory cards with low security and non-volatile memory structure up to high-security crypto-processor cards and Java / Native operating system (OS) cards.

 

Contactless smart card systems are being widely used in various applications such as physical security, tracking, payment systems, and many more. The usage of RFID systems has grown quickly over the last decade and is rapidly becoming a common part of everyday life. The aim of contactless smart card technology is to provide low cost “no-touch” communication, which can create an authenticated, and optionally, the encrypted channel of communication between the card reader and the nearest smartcard.

 

The global contactless smart card market is expected to reach USD 40 billion by 2027 at a CAGR of 18% over the forecast period.

 

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Some of the key players in the contactless smart card market are ASK (France), Gemalto NV (Netherlands), Giesecke & Devrient (Germany), Morpho (France), Oberthur Technologies (France), Watchdata System (Singapore), Advanced Card Systems (China), CardLogix (U.S.), DataCard Corporation (U.S.) and DataCard Corporation (Germany) among others.

 

Key Findings

  • Cubic Corporation’s Cubic Transportation Systems business division has been awarded a contract with the Los Angeles County Metropolitan Transportation Authority to deliver an integrated mobile app in support of the regional contactless fare system in that area
  • ManeulLab Uses FPC sensor in Smart Card Solution. The solution is designed to support contact-based and contactless transactions and is available in versions designed for access control, ID, and payment applications

 

Regional Analysis

Asia Pacific region is leading the global Contactless Smart Card Market due to the increasing number of forgery cases and duplicate identity cases. For instance, in Indonesia smart card IDs are rolled out to millions of government workers, pointing the way forward to future closed systems that offer identification and payment authentication. The technology is provided by HID Global and its deployment of those cards has come at a lower cost than similar projects, according to the company and the Indonesian agency overseeing the effort.

 

The contactless smart cards market is growing in Europe and North America. IDEX, a leading developer of advanced fingerprint solutions for mass markets, launched a ground-breaking flexible, low power fingerprint sensor ready to be used in contactless cards operating with standard NFC terminals. The sensor has state of the art power management which supports biometric card operation without a battery. The sensor is specifically designed for proven standard mass production processes. North America is expected to emerge as one of the key regional markets over the forecast period. The growth is mainly attributed to the increasing deployment of cloud-based contactless payment technologies in various verticals such as transportation. Europe is expected to be another major region for contactless payments owing to the growing number of smart card rollouts.

 

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Intended Audience

Software Developers

OEM Manufacturers

Technology Integrators

Testing

Application Developers

Smart card manufacturers

Semiconductor manufacturers

Smart card operating system developers

 

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