A recently published research report by Market Research Future (MRFR) mentions the global smart cards market to attain considerable growth over the forecast period between 2017 and 2023. The market for smart cards is expanding due to its vast pool of usage across a number of applications, including online authentication devices, mobile phones, portable medical record cards, and payment transactions. From being used as student membership card to driver’s license, smart cards are holding increasing applications for verifying identity, age, and the associated access rights and benefits of any individual.
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The global Smart Card Industry segmentation is based upon the following key components.
By application, the market includes healthcare, BFSI, education, government, transportation, retail, entertainment, and enterprises
By type, the market segments into dual-interface, contact, hybrid, and contactless.
By component, the market comprises readers, software, hardware, smart cards, and services.
The smart cards market is regionally segmented across the following key regions across the world: North America, Asia Pacific, Europe, and the Rest of the World (RoW).
The global smart cards market is set to gain massive traction in the coming years of the forecast period. A majority of the market growth can be attributed to North America. North America holds the primal position in the global smart cards market with the highest share percentage under its name. The region is expected to hold onto its position in the coming years due to a number of key reasons. The rapid paced adoption of new technologies and the presence of a vast pool of key players in the region significantly supports the market growth of smart cards in this region. It is worth noting that the US Department of Defense uses smart cards in their Common Access Cards, aka CAC, as well as other cards for two or three factor authentication.
The European smart cards market is extremely strong as well and the region has a number of applications for such cards. Moreover, the UK Department of Transport have mandated the use of smart cards. The Asia Pacific region stands third in the global smart card market landscape and is expected to grow over the forecast period due to the fast-paced digitization herein.
The global smart cards market includes a host of key players. This includes names such as CPI Card Group Inc. (the U.S.), Giesecke & Devrient GmbH (Germany), Rambus Inc. (the U.S.), CardLogix Corporation (the U.S.), NXP Semiconductors N.V. (Netherlands), Infineon Technologies AG (Germany), Identiv, Inc. (the U.S.), VeriFone Systems, Inc. (the U.S.), BrilliantTS Co. Ltd. (South Korea), Bitel Co. Ltd. (South Korea), Gemalto N.V. (Netherlands), IDEMIA France SAS (France), Ingenico Group SA (France), Beijing Watchdata Co. Ltd. (China), HID Global Corporation (Sweden), STMicroelectronics NV (Switzerland), ZWIPE (Norway), Sony Corporation (Japan), Versasec AB (Sweden), Samsung Electronics Co., Ltd. (South Korea), Fingerprint Cards AB (Sweden), KONA I Co., Ltd. (South Korea), VALID (Brazil), PAX Global Technology Ltd. (Hong Kong), Fujian Newland Computer Co., Ltd. (China), and others.
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