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Increasing Adoption of Biometric-Enabled Smart Cards Is Expected To Be a Game Changer for the Smart Card Market

The smart card market has been segmented based on communication, component, application, and geography. The market is expected to reach USD 21.57 billion by 2023 from USD 14.22 billion in 2018, at a CAGR of 8.7% between 2018 and 2023.

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Increasing Adoption of Biometric-Enabled Smart Cards Is Expected To Be a Game Changer for the Smart Card Market

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  1. MarketsandMarkets Presents Increasing Adoption of Biometric-Enabled Smart Cards Is Expected To Be a Game Changer for the Smart Card Market Smart Card Market by Communication (Contact and Contactless), Component (Hardware, Software, and Services), Application (BFSI, Government and Healthcare, Transportation, Retail, and Others) and Geography - Global Forecast to 2023 https://www.marketsandmarkets.com/Market-Reports/smart-card-285.html

  2. The smart card market has been segmented based on communication, component, application, and geography. The market is expected to reach USD 21.57 billion by 2023 from USD 14.22 billion in 2018, at a CAGR of 8.7% between 2018 and 2023. The major factors driving the growth of the smart card market include increasing use of online payment methods enabling consumers to make secure and reliable payments. In line with this, the use of contactless smart cards has gained remarkable consideration as electronic payment methods are rapidly replacing cash and carry operations. However, factors such as initial costs associated with the deployment of contactless EPOS terminals and increasing adoption of mobile wallets are restraining the growth of the market. Browse 68 market data Tables and 42 Figures spread through 144 Pages and in-depth TOC on "Smart Card Market  - Global Forecast to 2023"

  3. The increasing adoption of biometric-enabled smart cards is expected to be a game changer for the smart card market over the coming years. Companies such as IDEMIA France SAS, Gemalto N.V., Ingenico Group SA, KONA I Co., Ltd. Fingerprint Cards AB, and ZWIPE AS have launched a range of bio-metric-enabled smart cards for various end-use applications. Further, these companies are also exploring applications of block chain technology to transform the smart card market. Download Free PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=285 A contactless smart card includes an embedded smart card, secure microcontroller or equivalent intelligence, internal memory, and a small antenna; it communicates with a reader through a contactless radio frequency (RF) interface. Companies such as Gemalto N.V., Giesecke & Devrient GmbH, and IDEMIA France SAS are offering customized solutions using embedding contactless technology to their end users.

  4. Further, chip manufacturing players such as Infineon Technologies AG, NXP Semiconductors N.V., and Sony Corp. are offering new contactless enabled chips owing to their increased demand. This has encouraged providers of smart card readers such as Ingenico Group SA and VeriFone Systems, Inc. to offer contactless smart card readers. The BFSI and transportation sectors are expected to witness a high adoption of contactless smart cards in the coming years. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=285 The smart card market in the Rest of the World (RoW) comprises South America, and the Middle East and Africa (MEA). This region is expected to be the fastest growing market during the forecast period. South America holds a fair opportunity for smart cards, especially for the BFSI, government, and healthcare sectors—with Chile, Mexico, and Brazil having high potential. The penetration of smart card solutions in Brazil is higher than in other countries in this region. MEA is an emerging market for smart cards, wherein companies are increasingly deploying smart card solutions for government and healthcare applications. Dubai, Abu Dhabi, Qatar, Israel, and South Africa are some of the potential markets for smart cards in the MEA region.

  5. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  6. Contact Us Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:newsletter@marketsandmarkets.com For More Info: https://www.marketsandmarkets.com/PressReleases/smart-card-market.asp

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