According to a new market research report published by Credence Research “Smart Cards (By Type – Contact-based Smart Cards, Contactless Smart Cards, Dual-interface Smart Cards and Hybrid Smart Cards) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the global smart cards market was valued at US$ 7,568.5 Mn in 2014 and is estimated to expand with a CAGR of 7.2% from 2015 to 2022.
Browse the full report at http://www.credenceresearch.com/report/smart-cards-market
Market Insights
Smart cards refer to a pocket-sized device embedded with an integrated circuit (IC) chip. The IC chip on the card can be memory card-based or microcontroller-card based depending upon the function of smart cards. Smart card is used by connecting it to a smart card reader either through direct physical contact or radio frequency (RF) communication. Thus, the operation of smart cards is quite similar to the traditional magnetic strip and bar code cards.
The most significant factor driving the smart cards market growth is the high penetration in the telecommunication sector. Smart cards are widely used as subscriber identity module (SIM) in mobile phones thereby increasing the demand globally. Due to ever-rising penetration of mobile phones worldwide, the smart cards market growth is expected to remain steady throughout the forecast period.
Another significant factor fueling the smart cards market growth is the better security features as compared to the traditional cards. Smart cards are comparatively difficult to clone and hence cannot be easily misused for any application. These cards are equipped with internal memory storage (larger than magnetic strip cards) which enables to incorporate better security features onto the smart cards. This makes smart cards suitable for use across various applications such as banking, identity cards (ePassport), healthcare and others.
Competitive Insights
The global smart cards market is consolidated in nature with few international players contributing to more than fifty percent of the total market revenue. Major players in the market include Giesecke & Devrient (G&D) GmbH, Gemalto NV and Oberthur Technologies. Other prominent players in the market comprise Infineon Technologies AG, NXP Semiconductors NV, Atos SE, INSIDE Secure SA, CardLogix Corporation and others.
The smart cards have enjoyed strong penetration across various application sectors such as ID cards, telecommunication and banking services. Thus, the market players are focused upon developing better security features along with minimal cost of the cards. This makes the market technology driven and price competitive.
For More Information, List of Figure, Tables And TOC Visit – http://www.credenceresearch.com/report/smart-cards-market
Key Trends
- Development of advanced smart cards solutions with better security and reliability
- Smart cards for healthcare applications
- Penetration of smart cards in ID cards of nations worldwide
- Acquisition and partnerships with smart card manufacturers as well as component manufacturer
About Us:
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.
Web: Credence Research
Media Contact
Company Name: Credence Research
Contact Person: Chris Smith, Global Sales Manager
Email: sales@credenceresearch.com
Phone: 1-800-361-8290
Address:105 N 1st ST #429
City: SAN JOSE
State: California
Country: United States
Website: http://www.credenceresearch.com/report/smart-cards-market