Contactless Smart Card Market - Future Demands, Latest Innovation by Regional Forecast to 2027

Contactless smart cards use radio frequency identification (RFID) technology to wirelessly communicate with a card reader. A copper or aluminum antenna is connected to an integrated circuit (chip) and then securely laminated inside plastic card body under high heat and pressure. Contactless smart cards range from simple memory cards with low security and non-volatile memory structure up to high-security crypto-processor cards and Java / Native operating system (OS) cards.

Contactless smart card systems are being widely used in various applications such as physical security, tracking, payment systems, and many more. The usage of RFID systems has grown quickly over the last decade and is rapidly becoming a common part of everyday life. The aim of contactless smart card technology is to provide low cost “no-touch” communication, which can create an authenticated, and optionally, the encrypted channel of communication between the card reader and the nearest smartcard.

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Global Contactless Smart Card Market Research Report: by type (proximity card & CPU/MPU cards), application (BFSI, government, transportation), technology (smartcard integrated circuits, memory smart card), – Forecast till 2027

Contactless Smart Card Market Research Report – Global Forecast to 2027

Regional Analysis:

Asia Pacific region is leading the global contactless smart card market due to the increasing number of forgery cases and duplicate identity cases. For instance, in Indonesia smart card IDs are rolled out to millions of government workers, pointing the way forward to future closed systems that offer identification and payment authentication. The technology is provided by HID Global and its deployment of those cards has come at a lower cost than similar projects, according to the company and the Indonesian agency overseeing the effort.

The contactless smart cards market is growing in Europe and North America. IDEX, a leading developer of advanced fingerprint solutions for mass markets, launched a ground-breaking flexible, low power fingerprint sensor ready to be used in contactless cards operating with standard NFC terminals. The sensor has state of the art power management which supports biometric card operation without a battery. The sensor is specifically designed for proven standard mass production processes. North America is expected to emerge as one of the key regional markets over the forecast period. The growth is mainly attributed to the increasing deployment of cloud-based contactless payment technologies in various verticals such as transportation. Europe is expected to be another major region for contactless payments owing to the growing number of smart card rollouts.

Study Objective of Contactless Smart Card Market:

  • To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Contactless Smart Card Market
  • To provide insights about factors affecting the market growth
  • To analyze the Contactless Smart Card market based on various factors- price analysis, supply chain analysis, porter’s five force analysis etc.
  • To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
  • To provide country level analysis of the market with respect to the current market size and future prospective
  • To provide country level analysis of the market for segment by type, by application and sub-segments.
  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Contactless Smart Card Market.

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Some of the key players in the contactless smart card market are ASK (France), Gemalto NV (Netherlands), Giesecke & Devrient (Germany), Morpho (France), Oberthur Technologies (France), Watchdata System (Singapore), Advanced Card Systems (China), CardLogix (U.S.), DataCard Corporation (U.S.) and DataCard Corporation (Germany) among others.

Industry News

  • In June 2016, Oberthur Technologies announced the collaboration with Axis Bank to provide India’s first Contactless Smart Card.
  • In April 2016, Gemalto NV announced the collaboration with Bank of Saudi Arabia for deployment of contactless EMV payment cards

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Also Read: https://www.marketresearchfuture.com/reports/mobile-money-market-1052 

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