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Global Banking and Financial Smart Cards Market 2016-2020

About Banking and Financial Smart Cards

A smart card is a pocket-sized card with either an embedded integrated circuit called a microcontroller chip, which has an internal memory, or a secured memory chip. Smart cards are used mainly for security purposes for authentication, identification, data storage, and application processing. With an embedded microcontroller chip, smart cards store large amounts of data; carry out their own on-card functions such as decryption, data storage and management, digital signature calculations, and encryption; and interact quickly with a smart card reader.

In the banking, financial services, and insurance (BFSI) sector, smart cards are used as credit or debit cards, authentication cards for payments, fuel cards, access control cards, and high-security identification cards. They can be used as electronic wallets by loading the smart card with funds that can be transferred to a vending machine or an account using cryptographic protocols. The portability, ease of use, security, and convenience offered by banking and financial smart cards have led to the increased adoption of smart cards in the BFSI sector.

Technavio’s analysts forecast the global banking and financial smart cards market to grow at a CAGR of 9.74% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global banking and financial smart cards market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of banking and financial smart cards. Smart cards are used in banks of all sizes and government banks for identification, authentication, data storage, and application processing.)

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

  • APAC
  • Europe
  • Latin America
  • MEA
Technavio's report, Global Banking and Financial 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 vendors
  • Gemalto
  • Giesecke & Devrient
  • Morpho
  • Oberthur Technologies
Other prominent vendors
  • American Express
  • ARM
  • Bell ID
  • CardLogix
  • DataCard
  • HID Global
  • Infineon Technologies
  • MasterCard
  • Smart Card IT Solutions
  • Visa
Market driver
  • Strong need to reduce identity duplication
  • For a full, detailed list, view our report
Market challenge
  • Increase in price wars
  • For a full, detailed list, view our report
Market trend
  • Emergence of hybrid 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?


Press Release

Technavio Announces the Publication of its Research Report – Global Banking and Financial Smart Cards Market 2016-2020

Technavio recognizes the following companies as the key players in the Global Banking and Financial Smart Cards Market: Gemalto, Giesecke & Devrient, Morpho, and Oberthur Technologies.

Other Prominent Vendors in the market are: American Express, ARM, Bell ID, CardLogix, DataCard, HID Global, Infineon Technologies, MasterCard, Smart Card IT Solutions and Visa.

Commenting on the report, an analyst from Technavio’s team said: “The emergence of hybrid cards is likely to encourage the adoption of smart cards by the banking and financial sectors. Hybrid smart cards are those with a dual-interface, a combination of contactless and contact interfaces, on a single card. Such cards have shared storage and processing of information, thus eliminating the need to carry multiple cards.”

According to the report, strong need to reduce identity duplication is one of the major growth drivers of the market. With a rise in the rate of fraudulent activities that are occurring, a solution that will reduce security risks is required. The data available in smart cards is difficult to decode, and therefore smart cards have a higher adoption in the BFSI sector worldwide.

Further, the report states that the price of smart cards is remarkably high in regions where there are fewer vendors. At the same time, price wars in the market are increasing in regions where the market is fragmented. These price wars are resulting in a reduction in the cost of smart cards, which is adversely affecting small core players, as well as the revenue of the global banking and payment smart cards market.

Companies Mentioned

Gemalto, Giesecke & Devrient, Morpho, Oberthur Technologies, American Express, ARM, Bell ID, CardLogix, DataCard, HID Global, Infineon Technologies, MasterCard, Smart Card IT Solutions, Visa.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Segmentation
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Introduction of smart cards
    • Types of smart cards
    • Smart card applications
    • Life cycle of banking and financial smart cards
      • Table Life cycle of banking and financial smart cards
    • Advantages and disadvantages of smart cards
  • Market landscape
    • Market overview
      • Table Overview of global banking and financial smart cards market
    • Global smart cards market
      • Table Global smart cards market 2015-2020 ($ billions)
    • Global unit shipment of smart cards
      • Table Global unit shipment of smart cards 2015-2020 (billions of units)
    • Market share of banking and financial smart cards
      • Table Market share of banking and financial smart cards 2015-2020 (% share)
  • Global banking and financial smart cards market
    • Table Global banking and financial smart cards market 2015-2020 ($ billions)
    • Global unit shipment of banking and financial smart cards
      • Table Global unit shipment of banking and financial smart cards 2015-2020 (billions of units)
  • Market segmentation by technology
    • Global banking and financial smart cards market segmentation by technology
      • Table Global banking and financial smart cards market segmentation by technology 2015-2020
    • Global contact-based banking and financial smart cards market
      • Table Global contact-based banking and financial smart cards market 2015-2020 ($ billions)
    • Global unit shipment of contact-based banking and financial smart cards
      • Table Global unit shipment of contact-based banking and financial smart cards 2015-2020 (billions of units)
    • Global contactless banking and financial smart cards market
      • Table Global contactless banking and financial smart cards market 2015-2020 ($ billions)
    • Global unit shipment of contactless banking and financial smart cards
      • Table Global unit shipment of contactless banking and financial smart cards 2015-2020 (billions of units)
  • Geographical segmentation
    • Segmentation of global banking and financial smart cards market by geography
      • Table Segmentation of global banking and financial smart cards market by geography 2015-2020 (% share)
    • Segmentation of global banking and financial smart cards market by geography (revenue)
      • Table Segmentation of global banking and financial smart cards market by geography 2015-2020 ($ billions)
    • Unit shipment of banking and financial smart cards market by geography
      • Table Unit shipment of banking and financial smart cards market by geography 2015-2020 (billions of units)
  • Market drivers
  • Market challenges
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
  • Five forces analysis
  • Key vendor analysis
    • Competitive scenario
    • Vendor matrix
    • Description of leading vendors
    • Key highlights
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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