Smart Card Market 2020-2026; Growth Forecast & Industry Share Report
Selbyville, Delaware, United States, October 7 2020 (Wiredrelease) Global Market Insights, Inc –:The smart card market is expected to gain significant momentum in coming time as ongoing technological advancements and adoption of electronic payment methods keeps rising on a large scale. A smart card is a card like device comprising of an integrated circuit chip implanted on it. A smart card works by connecting it to a controller or host computer through a card reader, which retrieves information from the card and further passes the data along to the host computer or controller.
In terms of solution, the smart card market is bifurcated into smart card and smart card-reader. The smart card segment is further categorized into product and type.
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Based on product, the smart card market is classified into dual interface, hybrid, contactless, and contact. With the introduction of 4G LTE SIM cards and the emergence of 5G technology, the demand for the contact cards will increase in the coming years.
The contactless product segment is expected to witness tremendous gains as its ability to provide fast as well as convenient transactions is resulting in a rising demand for technology across numerous emerging applications including transport, corporate, banking, and government.
With respect to type, the smart card market is classified into microprocessor cards and memory cards. The smart cards that come under the memory cards segment are essentially based on memory cards. This type of card is basically used to store memory and is the least secured amongst other types of smart cards, which might hamper its growth going forward.
In terms of application, the overall smart card market is segmented into loyalty, transportation, access control, retail & gas, financial, government & health, sim & telecom, and others. In the financial segment smart cards increase trust by enhanced security. It provides two-factor authentication, which protects the data and value throughout the internet. Threats like the “Trojan Horses” and “Man in the middle” can be eliminated.
Rising technological advancements and innovations in the POS solutions are further encouraging key retail players to modify their traditional payment & billing solutions, thereby leading to an immense product demand in the retail & gas segment.
Multifunctional microprocessor-based smart cards that incorporate identity with access privileges and can also store value for use in various locations, such as stores and cafeterias, are being majorly preferred by organizations in the access control segment.
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Smart cards are used as a stored value in loyalty programs & gift cards that track and provide convenient & safer incentives to repeat customers. Such factors help store owners to improve customer retention, encourage spending, and strengthen relationships with customers, thereby leading to smart card market growth in the loyalty application segment.
Table of Contents (ToC) of the report:
Chapter 5 Smart Card Market, By Solution
5.1 Key trends by solution
5.2 Smart card
5.2.1 Market estimates and forecast, 2016 – 2026
5.2.2 Market estimates and forecast, by product, 2016 – 2026
188.8.131.52 Dual interface
5.2.3 Market estimates and forecast, by type, 2016 – 2026
184.108.40.206 Memory cards
220.127.116.11 Microprocessor cards
5.3 Smart card reader
5.3.1 Market estimates and forecast, 2016 – 2026
5.3.2 Market estimates and forecast, by component, 2016 – 2026
5.3.3 Market estimates and forecast, by product, 2016 – 2026
Chapter 6 Smart Card Market, By Application
6.1 Key trends by application
6.2 SIM & telecom
6.2.1 Market estimates and forecast, 2016 – 2026
6.3.1 Market estimates and forecast, 2016 – 2026
6.4 Government & health
6.4.1 Market estimates and forecast, 2016 – 2026
6.5 Retail & gas
6.5.1 Market estimates and forecast, 2016 – 2026
6.6 Access control
6.6.1 Market estimates and forecast, 2016 – 2026
6.7.1 Market estimates and forecast, 2016 – 2026
6.8.1 Market estimates and forecast, 2016 – 2026
6.9.1 Market estimates and forecast, 2016 – 2026
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