Market Research Logo

Global Contactless Smart Cards Market in the Banking Sector 2016-2020

About the Contactless Smart Cards Market in Banking Sector

A smart card is a pocket-sized card with an embedded microcircuit. Smart cards are used by organizations in various sectors such as banking, financial services, and insurance (BFSI); transportation; government; and healthcare for identification and authentication of individuals. They can be used by employees in enterprises to gain authorized access to secured premises to ensure data security. Based on technology, smart cards can be segmented into contact-based and contactless smart cards.

Technavio’s analysts forecast the global contactless smart cards market in banking sector to grow at a CAGR of 33.09% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global contactless smart cards market in banking sector for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of contactless smart cards used for payments.

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

  • APAC
  • Europe
  • MEA
  • North America
  • South America
Technavio's report, Global Contactless Smart Cards Market in Banking Sector 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
  • Safran
  • Oberthur Technologies
Other prominent vendors
  • American Express
  • ARM
  • Bell ID
  • CardLogix
  • DataCard
  • HID Global
  • Infineon Technologies
  • MasterCard
  • NXP Semiconductors
  • Smart Card IT Solutions
  • Visa
Market driver
  • Growing need to reduce identity duplication
  • For a full, detailed list, view our report
Market challenge
  • Lack of awareness about contactless smart cards among end-users
  • For a full, detailed list, view our report
Market trend
  • Introduction 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 Contactless Smart Cards Market in Banking Sector 2016-2020

Technavio recognizes the following companies as the key players in the global contactless smart cards market in banking sector: Gemalto, Giesecke & Devrient, Safran, and Oberthur Technologies.

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

Commenting on the report, an analyst from Technavio’s team said: “One trend that is expected to boost market growth is the introduction of hybrid smart cards. 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. Hybrid smart card authentication requires smart card middleware, a smart card, a smart card reader, and a smart card PIN. As data and information can be consolidated in one smart card, it provides ease of handling. The availability of hybrid cards will lead to the increased adoption of contactless smart cards, which will support the market growth.”

According to the report, a key growth driver is the need to reduce identity duplication. With technological advances, the number of cases of fraud and forgery is increasing. There is a growing need for a solution that will reduce security risks. The cards and payments industry has undergone a digital transformation with the introduction of new payment methods such as EMV chips, PIN cards, and mobile wallets. The data stored on smart cards is difficult to decode. Data and information available in contactless smart cards can be accessed using a PIN. These PINs are extremely difficult to interpret as they are encoded and make the transaction more secure and counterfeiting more difficult.

Further, the report states that one challenge that could hamper market growth is the lack of awareness about contactless smart cards among end-users.



Companies Mentioned

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

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market description
    • Working flow of contactless smart cards
      • Table Working flow of contactless smart cards
    • Advantages of smart cards
    • Disadvantages of smart cards
  • Market landscape
    • Market overview
      • Table Market overview
    • Market assumptions
      • Table Market assumptions
    • Contactless smart card in banking sector
      • Table Contactless smart cards in banking sector 2015 (% share)
      • Table Contactless smart cards in banking sector 2020 (% share)
    • Market size and forecast
      • Table Global contactless smart card market in banking sector 2015-2020 ($ millions)
    • Global unit shipment of contactless smart cards in banking sector
      • Table Global unit shipment of contactless smart cards in banking sector 2015-2020 (millions of units)
  • Product life cycle analysis
    • Table Product life cycle analysis
  • Geographical segmentation
    • Global contactless smart card market in banking sector by geography
      • Table Global contactless smart card market in banking sector by geography 2015-2020 (% share)
      • Table Global contactless smart card market in banking sector by geography 2015-2020 (% share of unit shipment)
    • Contactless smart card market in banking sector in APAC
      • Table Contactless smart card market in banking sector in APAC 2015-2020 ($ millions)
      • Table Unit shipment of contactless smart cards in banking sector in APAC 2015-2020 (millions of units)
    • Contactless smart card market in banking sector in Europe
      • Table Contactless smart card market in banking sector in Europe 2015-2020 ($ millions)
      • Table Unit shipment of contactless smart cards in banking sector in Europe 2015-2020 (millions of units)
    • Contactless smart card market in banking sector in South America
      • Table Contactless smart card market in banking sector in South America 2015-2020 ($ millions)
      • Table Unit shipment of contactless smart cards in banking sector in South America 2015-2020 (millions of units)
    • Contactless smart card market in banking sector in North America
      • Table Contactless smart card market in banking sector in North America 2015-2020 ($ millions)
      • Table Unit shipment of contactless smart cards in banking sector in North America 2015-2020 (millions of units)
    • Contactless smart card market in banking sector in MEA
      • Table Contactless smart card market in banking sector in MEA 2015-2020 ($ millions)
      • Table Unit shipment of contactless smart cards in banking sector in MEA 2015-2020 (millions of units)
  • Market attractiveness
    • Market attractiveness by geography
      • Table Market attractiveness by geography 2015-2016
      • Table Market attractiveness by geography 2019-2020
  • Advent of NFCbased mobile phones
  • Market drivers
    • Growing need to reduce identity duplication
    • Need for tamper-resistant information storage systems
    • Increasing need to prevent fraud in banks
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • High initial deployment and replacement costs
    • Increase in price-based competition
    • Growing complexity of smart card chips
    • Lack of awareness about contactless smart cards among end-users
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Emergence of multi-application smart cards
    • Introduction of hybrid smart cards
    • Increased adoption of electronic purses
  • Buying criteria
    • Table Buying criteria for contactless smart cards in banking sector
  • Vendor landscape
    • Competitive scenario
  • Five forces model
    • Table Five forces model
    • Value chain analysis
      • Table Value chain analysis of contactless smart card market in banking sector
    • Product offerings
      • Table Product offerings
    • Vendor matrix
      • Table Vendor matrix
    • Competitive rating
      • Table Competitive rating 2015
    • Description of vendors
    • Channel distribution
      • Table Key partnerships
      • Table Key acquisitions in global contactless smart card market in banking sector
    • Other prominent vendors
      • Table Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report