Global Contactless Smart Cards Market to grow at a CAGR of 32.94% during the period 2016 - 2020; Finds New Report

Report forecast the global contactless smart cards market to grow at a CAGR of 32.94% during the period 2016-2020.

Smart cards are pocket-sized cards that are embedded with integrated circuits. These smart cards can be used for individual identification and authentication by organizations in various sectors, including banking, financial services, and insurance (BFSI); transportation; government; and healthcare. Furthermore, these smart cards can be used by enterprises to provide authorized access to individuals within secured premises to ensure data security. Smart cards can be also used for enhancing various applications, such as payments and transit ticketing, as they increase efficiency for the end-user. Smart cards can be segmented into contact-based and contactless smart cards.

Contact-based smart cards have a contact area that provides electrical connectivity when inserted into the card reader. These readers act as a communication medium between the point of sale system or computer and the smart card. Contactless smart cards use radio frequency (RF) technology for communication between a contactless smart card and the card reader. Thus, for data and information transfer between contactless smart cards and card readers, it is important for contactless smart cards to be in proximity to an antenna.

The report covers the present scenario and the growth prospects of the global contactless smart cards market for 2016-2020. To calculate the market size, the report considers the revenues generated from the sales and shipments of contactless smart cards that require pin codes such as Europay, MasterCard, and Visa (EMV) cards.

The market is divided into the following segments based on geography:

• APAC
• Europe
• Latin America
• North America
• MEA

According to the report, smart cards with magnetic tapes store financial information about end-users. However, these cards can be easily tampered with, resulting in loss of information or data. This also increases the chances of identity theft. Contactless smart cards with PIN codes are difficult to tamper with. This increases the safety of card holders' accounts, providing better security.

Further, the report states that high initial deployment and replacement cost is a major challenge for contactless smart card end-users.

Global Contactless Smart Cards Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global Contactless Smart Cards Market: Gemalto, Giesecke & Devrient, Oberthur Technologies, Safran, and Watchdata.

Other Prominent Vendors in the market are: Advanced Card Systems, CardLogix, DataCard, Infineon Technologies, NXP Semiconductors, Secura Key, Sony FeliCa, and SpringCard.

Market driver

• Need for tamper-resistant system
• For a full, detailed list, view our report

Market challenge

• High total cost of ownership (TCO)
• For a full, detailed list, view our report

Market trend

• Emergence of multi-application smart cards
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 56 pages and 28 Exhibit “Global Contactless Smart Cards Market 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market Overview, Market Landscape, Life cycle analysis, Market segmentation by application, Geographical segmentation, Buying criteria, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Five forces model, Vendor landscape, Appendix.

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