GLOBAL SMART CARD MARKET was valued at USD 9.47 Billion in the year 2017. Global Smart Card Market is further estimated to grow at a CAGR of 9.55% from 2018 to reach USD 16.36 Billion by the year 2023. Asia Pacific region holds the highest market share in 2017 with Europe region is considered as the fastest growing market in the forecasted period. At a country level, China was the biggest market in 2017 and it is projected to grow at a gradual pace in the coming years.

American Express Company. (U.S.), Arm Holdings PLC (U.K.), Microchip Technology Inc. (U.S), are some of the key players in the Smart Card market. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top manufacturers in recent years.

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Drivers:

Data Security for the cards

Flexibility and Multiservice

Restraints:

Cost and LiDownload Free Sample Report @ mitations

Opportunities:

New and Innovative Card application

Challenges:

Lack of business case

The Global Smart Card Market is segmented by technology, by component, by application, and by region. In technology type, Contact based smart card is expected to hold the highest market share during the forecast period. On the other hand, by application Telecommunication market for Smart card is expected to grow at the highest CAGR of X.X during the year 2017-2022. The driving factors are the strong adoption of subscriber identity module (SIM) cards for mobile phone.

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Key Benefits for Stakeholders

Smart Card Manufacturers, Distributors and Retailers

Research and Consulting organization

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policy actors, and consumers.

By Technology

Contact Card

Contactless Card

Multi-Component Card

By Component

Memory-Based

Microcontroller-Based

By Application

Banking, Financial Services, and Insurance (BFSI)

Government

Telecommunication

Retail

Healthcare

Hospitality

Transportation

Pay TV

Others

By Region

North America

Europe

Asia-Pacific

ROW

Key Market Players

American Express Company

Arm Holdings Plc.

Microchip Technology Inc. (Atmel Corporation)

Entrust Datacard Corporation

Atos SE

Gemalto N.V.

CPI Card Group Inc.

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