As
per a research report published by Transparency Market Research, the
global smart cards market is forecast to achieve a CAGR of 9.0% for
the 2014-2020 period. At this growth rate, the global smart cards
market is expected to grow from a valuation of US$6.6 billion in 2013
to US$11.9 billion by 2020. The report, titled ‘Smart Cards Market
- Global Industry Analysis, Size, Share, Growth, Trends and Forecast,
2014 - 2020’, states that the smart cards market in Asia Pacific is
expected to grow at a CAGR of 10.1% over the report’s forecast
period. Smart cards are IC-based cards that assist end users to
cost-effectively store, maintain, and manage their credentials. The
report also focuses on different market segments such as the types of
smart cards available in the market, key end-use applications, and
key regional markets. Value chain analysis, market attractiveness
analysis, and Porter’s five forces analysis are presented in the
report in order to better understand the market conditions.
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the full Smart Cards Market report at:
The
global smart cards market is studied on the basis of Porter’s Five
Forces Analysis by considering factors such as suppliers’
bargaining power, buyers’ bargaining power, threat from new
entrants, threat from substitutes, and competition.The report states
that the demand for reliable and secure payment transactions
throughout the BFSI and retail industries has resulted in the growth
of the smart cards market. Innovations in smart card technology are
driven by cost-saving schemes from brands such as MasterCard,
Europay, and Visa. Two of the major challenges that the smart cards
market faces are technology challenges and price pressures. However,
technological advancements, introduction of SIMs, and a dip in prices
will generate potential opportunities for the smart cards market to
grow.
For
the purpose of this study, TMR analysts have segmented the market
based on various criteria. Along with the current scenario, the
report also predicts the future of the global smart cards market. The
market is segmented on the basis of card components, card type,
geography, and application. Contact smart cards, dual interface,
hybrid, and contactless are the main kinds of smart cards. The report
provides information about the size of the market and its forecast
for the period from 2014 to 2020, on the basis of revenue for every
segment.The report states that the recent growth of the global smart
cards market is due to an increase in demand from Asia Pacific
countries such as India, China, Japan, and South Korea.
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the Free Sample Research Report of Smart Cards Market at:
With
major contribution from these countries, Asia Pacific accounted for
almost 50% of the total revenue in the global smart cards market in
2013. Use of smart cards for applications such as toll collection,
telecommunication, driver’s license, ticketing, cross-border
identification, and national identification has led to increasing
acceptance of smart cards in Asia Pacific. Leading players such as
Giesecke & Devrient (G&D), Oberthur Technologies, and Gemalto
NV together accounted for around 66% of the revenue in the global
smart cards market in 2013. Asia Pacific, being the fastest expanding
market, is all set to retain its position of being a dominant
contributor to the global smart cards market over the report’s
forecast period. The CAGR of the Asia Pacific smart cards market is
expected to be 9.0% for the period 2013-2020.
Key
segments of The Smart Cards Market
Smart
Cards Market, by Type
Contact Smart Card
Contactless Smart Card
Hybrid Smart Card
Dual-interface Smart Cards
Smart
Cards Market, by Components
Memory Cards
Microcontroller Cards
Smart
Cards Market, by Applications
High-End Applications
Government Sector
Healthcare Sector
Transportation Sector
Telecommunications Sector
Pay TV Sector
Financial Services, Retail and Loyalty Sector
Low-End Applications
Smart
Cards Market, by Geography
North America
Europe
Asia Pacific
Rest of the World (Africa, Middle East and Latin America)
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the Press Release of Smart Cards Market at:
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