Smart Card Market in the APAC Region 2015-2019
About Smart Card
A smart card is a pocket-sized card, generally made of plastic, and is embedded with integrated circuits, also known as microchips. Smart cards are used for security purposes for authentication, identification, data storage, and application processing. They are widely used in sectors such as BFSI, Government, Transportation, Healthcare, and Defense. These cards are broadly classified into two types: contact-based and contactless. Contact-based smart cards have a contact area of approximately 1 square cm. These cards are used by inserting into a smart card reader. On the other hand, contactless smart cards are used by employing radio frequency between cards and a reader, which needs no physical insertion of the cards. Therefore, contactless smart cards have faster applications and are more user-friendly than contact-based smart cards.
TechNavio's analysts forecast the Smart Card market in the APAC region to grow at a CAGR of 5.6 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Smart Card market in the APAC region for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of the following type of smart cards:
TechNavio Announces the Publication of its Research Report – Smart Card Market in the APAC 2015-2019
TechNavio recognizes the following companies as the key players in the Smart Card Market in APAC: Gemalto NV, Giesecke&Devrient GmbH, Morpho SA, Oberthur Technologies and Watchdata System Co. Ltd.
Other Prominent Vendors in the market are: AB Note, Arm Holdings, ASK, Atmel, Datacard, Diebold, Infineon Technologies, Ingenico, Inside Contactless and Verifone System.
Commenting on the report, an analyst from TechNavio’s team said: “Banks are adopting smart cards to enhance the security of critical data, which has become a key trend in the market. The Banking sector deals with a huge volume of confidential information, the loss or misuse of which could affect the economy and security of a nation.”
According to the report, increased use of e-purse is a major driver, as it is similar to a smart card and carries pre-loaded monetary value. An e-purse enables cashless transactions similar to credit and debit cards and also involves the use of contactless smart cards.
Further, the report states that increase in price is a major challenge in the Smart Card Market in the APAC region. In regions, where the market is fragmented with many vendors, ongoing price wars have led to a constant decline in the prices of smart cards.
Gemalto, Giesecke & Devrient, Morpho, Oberthur Technologies, Watchdata System, AB Note, Arm Holdings, ASK, Atmel, Datacard, Diebold, Infineon Technologies, Ingenico, Inside Contactless, Verifone System
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