A smart card is a device embedded with an integrated circuit that can be either a secure microcontroller or equivalent intelligence with internal memory or a memory chip alone.
Some of the key applications of smart cards include fraud prevention, time reduction by dispensing redundant paperwork and potentially enabling one-card access to diverse networks. The smart card market continues to evolve and new and imaginative ideas for smart card applications are swiftly becoming a reality.
Based on type, the market can be segmented into contact, contactless, and dual-interface smart cards. The contact smart card segment is expected to hold the largest market share during the forecast period, owing to the widespread use of these smart cards across various industries such as BFSI and retail.
On the basis of the component, the market can be segmented into hardware and software. The hardware segment is projected to hold the largest market share and currently accounts for more than three-fourths of the smart card market, which includes cards and readers.
On the basis of the access type, the market can be bifurcated into physical and logical. The physical smart card segment is expected to grow at the highest rate during the forecast period. On the basis of end-use, the market can be segmented into, government, retail, healthcare, financial service, transportation service, government, and others. The transportation service segment is anticipated to grow at the highest CAGR during the forecast period, due to the increasing use of smart cards in ticketing systems at railway stations and airports.
While studying the worldwide markets for Smart Card industry, The report also provides details analysis of the market drivers, trends and restraints to showcase the current and future market scenario. Straits Research has ensured to provide a full- proof report that consists of the market strategies based on advanced technologies, applications, and different regions in the globe. The markets are expected to show significant growth during the forecasted period due to increasing demand for the Smart Card.
Some of the key players operating in the smart card market include Gemalto N.V. (Netherlands), Giesecke & Devrient GmbH (Germany), STMicroelectronics NV (Switzerland), Ingenico Group SA (France), IDEMIA France SAS (France), CPI Card Group Inc. (US), Identiv, Inc. (US), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Sony Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), and HID Global Corporation (Sweden).
The geographical analysis of the Global Market segments the worldwide market into key areas that include the continents as well as specific nations that are as of now growing in terms of their demand, volume or overall growth. Users of the report can center around these areas on the off chance that they are looking to expand their business outskirts.
In the end, The stages of development of the global Smart Card market in terms of their geographical presence have likewise been displayed thoroughly. This data enables the emerging players to gain up-to-date information which can enable them to take exceptional business decisions.
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