About Smart Card
Smart card is a pocket-sized card, generally 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. Contact-based smart cards have a contact area of approximately 1 square cm. These cards are inserted into the smart card reader. 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 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 some of the major sectors such as BFSI, Government, Transportation, Healthcare, and Defense.
TechNavio's analysts forecast the Global Smart Card market in the Telecom sector to grow at a CAGR of 4.98 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Smart Card market in the Telecom sector for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of smart cards in the Telecom sector. The report does not include revenue generated from the sales of contactless smart cards in the Telecom sector.
TechNavio's report, Global Smart Card Market in Telecom Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, North America, and the MEA region; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Smart Card Market in Telecom Sector 2015-2019
Technavio recognizes the following companies as the key players in the Global Smart Card Market in Telecom Sector 2015-2019: Gemalto NV, Giesecke & Devrient GmbH, Morpho SA, Oberthur Technologies and Watchdata System Co. Ltd.
Other Prominent Vendors in the market are: AB Note, Advanced Card Systems, CardLogix, Infineon Technologies, Inside Secure and NXP Semiconductors.
Commenting on the report, an analyst from Technavio’s team said: “Increased adoption of NFC payments is one of the major trends in the market. NFC-enabled mobile devices operate in card emulation mode for mobile contactless payments. Therefore, they are being widely used by the Telecom sector and by emerging sectors.”
According to the report, the growth of the market in the Telecom sector is driven by the increased need to reduce identity duplication. The number of cases of fraud and forgery has increased due to advances in technology, motivating vendors to create a type of smart card that is difficult to duplicate.
Further, the report states that the intense competition among vendors is one of the major challenges faced by the market.
Technavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit- http://www.technavio.com/it-hardware-software-services
Gemalto NV, Giesecke & Devrient GmbH, Morpho SA, Oberthur Technologies and Watchdata System Co. Ltd., AB Note, Advanced Card Systems, CardLogix, Infineon Technologies, Inside Secure and NXP Semiconductors
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