Contactless Smart Card Market Overview
Smart cards are pocket-sized cards made of plastic, which might be embedded with silicon chip or integrated circuits then method and store knowledge. Sensible cards area unit used for individual authentication and identification, payments, as a transit ticket, and for approved access among secured premises. Varieties of sensible cards area unit contact-based sensible cards and contactless sensible cards. Contactless revolving credits perform on radio frequency technology for communication between sensible cards and sensible card reader, whereas contact-based sensible cards got to are available in contact with the cardboard reader to perform.
Primary factors driving growth of the worldwide contactless revolving credit market area unit increasing incidence of forgery and duplication of identity due to technological advancements within the recent past. Additionally, these cards area unit PIN protected and tough to rewrite due to that, they'll be used for contactless payments. Increasing adoption in sectors like BSFI, retail, transportation, cordial reception, and government is additional boosting demand for contactless sensible cards. Additionally, governments in many developed countries area unit creating this technology obligatory for passport and drivers licenses. Moreover, use of contactless revolving credits for transit application to supply convenient payment possibility is predicted to additional fuel growth of the worldwide contactless smart card market.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Component, Communication, Application and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Cardcom Technology, CardLogix Corporation, CPI Card Group, Infineon Technologies AG, Verifone Inc., Giesecke & Devrient (G&D) GmbH, Bartronics India Limited, Ingenico, NXP Semiconductors NV, and Square, Inc. |
The covid-19 Impact on Contactless Smart Card Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor Industry. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor Industry. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
Contactless Smart Card Market Segment Overview
Based on component, the market is bifurcated into Hardware, smart Cards, Readers, Software, and Services. The smart card is anticipated to account for the largest market share. The factors are often attributed, since it's doable to organize a complete smart card system with good cards and readers, using application software.
Based on Communication, The market is divided into Contact and Contactless. The contact segment is expected to grow at the best CAGR within the forecast period, because of its lower value of contact-based cards.
Based on Application, The market is bifurcated into Banking, financial Services, and Insurance (BFSI), Government and healthcare, Transportation, Retail, and Others. The BFSI is anticipated to carry the most important market revenue. The factors are often attributable for the utilization of BFSI in banking and money institutions which provide advantages like personal data protection and data dealings wiped out a secure manner.
Market Analysis, Insights and Forecast – By Component
· Hardware
· Smart Cards
· Readers
· Software
· Services
Market Analysis, Insights and Forecast – By Communication
· Contact
· Contactless
Market Analysis, Insights and Forecast – By Application
· Banking, financial Services, and Insurance (BFSI)
· Government and tending
· Transportation
· Retail
· Others
Contactless Smart Card Market Regional Overview
Region-wise, in terms of regions In 2020, the Europe charge account credit reader market accounted for more than twenty fifth revenue share and can grow steady on account of high demand for smart card readers for access management in company organizations and transit. The company organizations within the region are assignment these good cards to employees to deploy an automatic employee’s identification and attendance system.
Contactless Smart Card Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Contactless Smart Card Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Contactless Smart Card are highlighted below.
· In 2020, Mastercard collaborated with IDEMIA and MatchMove to launch a fingerprint biometric card in Asia to enhance the safety and security of contactless payments. The F.CODE simple card ensures intuitive and seamless expertise of biometric authentication to a sensible card. Firms are addressing the dynamical client demands of quick and secure transactions. They are capitalizing on the growing biometric system market to launch solutions that more reduce the effort of getting into PINs and ensure accurate cardholder identification.
Contactless Smart Card Market, Key Players
· Cardcom Technology
· CardLogix Corporation
· CPI Card Group
· Infineon Technologies AG
· Verifone Inc.
· Giesecke & Devrient (G&D) GmbH
· Bartronics India Limited
· Ingenico
· NXP Semiconductors NV
· Square, Inc.
Q1. What is the total CAGR expected to be recorded for the Contactless Smart Card market during the forecast period?
Contactless Smart Card market is expected to record a CAGR of ~ xx% during the forecast period.
Q2. Which segment is projected to hold the largest share in the Contactless Smart Card Market?
Smart Card segment is projected to hold the largest share in the Contactless Smart Card Market.
Q3. What are the driving factors for the Contactless Smart Card market?
Smart cards are pocket-sized cards made of plastic, which might be embedded with silicon chip or integrated circuits then method and store knowledge is a key factor that boosts the growth of the Contactless Smart Card market progressively.
Q4. Which Segments are covered in the Contactless Smart Card market report?
Component, Communication, Packaging Component, Application, and Region, these segments are covered in the Contactless Smart Card market report
Q5. Which are the prominent players offering Contactless Smart Card?
Cardcom Technology, CardLogix Corporation, CPI Card Group, Infineon Technologies AG, Verifone Inc., Giesecke & Devrient (G&D) GmbH, Bartronics India Limited, Ingenico, NXP Semiconductors NV, and Square, Inc. are the prominent players offering Contactless Smart Card
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
