Global Contactless Smart Card Market 2015-2019
About Contactless Smart Card
A smart card is a pocket-sized card, made of plastic, which is embedded with integrated circuits or microchips. It is used for authentication, identification, data storage, and application processing. Smart cards are classified into two types: contact-based and contactless. Contactless smart cards are embedded with integrated circuits that process and store data and communicate with a terminal via radio frequencies. These cards are used by employing a radio frequency between the card and the reader that needs no physical insertion of the card. Therefore, contactless smart cards have faster applications and are user-friendly. Contactless smart cards are widely accepted and used by major sectors such as BFSI, Government, Transportation, Healthcare, and Defense.
TechNavio's analysts forecast the Global Contactless Smart Card market to grow at a CAGR of 30.31 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Contactless Smart Card market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of contactless smart cards. The report also covers the global shipment details of contactless smart cards. The report consolidates the revenue generated from the following major applications:
TechNavio Announces the Publication of its Research Report – Global Contactless Smart Card Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Contactless Smart Card Market: ASK SA, Gemalto NV, Giesecke & Devrient GmbH, Morpho SA, Oberthur Technologies and Watchdata System Co. Ltd.
Other Prominent Vendors in the market are: Advanced Card Systems, CardLogix, DataCard, Infineon Technologies, NXP Semiconductors, Secura Key, Sony FeliCa and SpringCard.
Commenting on the report, an analyst from TechNavio’s team said: “Currently, government agencies in developing countries are increasingly adopting contactless smart cards. For instance, smart card-based identity cards, driver's licenses, e-passports, voter ID, and vehicle document smart cards are widely being used in India. Likewise, many developing countries are launching contactless smart cards for growing sectors such as the Government, Healthcare, Transportation, and Defense sectors.”
According to the report, the increased need to reduce identity duplication is one of the major factors driving market growth. With advances in technology, the amount of fraud and forgery related to identity duplication is rising. Secure solutions can prevent identify duplication as contactless smart cards are tamper-proof and difficult to decode.
Further, the report states that one of the key challenges that the market faces is the complex technology of a smart card chip. The microchips embedded in cards are technologically advanced and more complex than a magnetic tape card.
ASK, Gemalto, Giesecke & Devrient, Morpho, Oberthur Technologies, Watchdata System, Advanced Card Systems, CardLogix, DataCard, Infineon Technologies, NXP Semiconductors, Secura Key, Sony Felica, SpringCard