Smart Card Market Share 2021-2027
New Study Reports ” Smart Card Market Share 2021, Global Industry Segmentation, Demand, Growth, Strategies, Trend, Opportunity Forecasts 2027” has been Added on MarketResearchFuture.
The report published on the Smart Card Market Share is a comprehensive analysis that includes the key parameters and indicators critical in understanding the market. The data from the years 2021 to 2027 has been used to present the market status and size. The study also covers the overall market valuation along with the CAGR for the forecast period. The introductory chapter presents an overview of the Smart Card Market Share along with the product definition and market scope. The report also analyzes consumer trends regarding the products along with the industry development trends.
The global Smart Card Market Share perceives a rapid upsurge, evolving extensively. The market growth attributes to the security measures implemented in Smart Cards, giving a security advantage over proximity cards. Smart Card systems allow users to securely manage the store with the accessible data on the card, interacting intelligently with a Smart Card reader. The emergence of smart card systems has brought up the convenience of systematic, secured payment services.
People are increasingly demanding for contactless readers, RFID tags, and Smart Cards due to faster data transfer convenience. Technological advances in Smart Cards escalate market growth, introducing mobile apps for tags collection. According to Market Research Future (MRFR), the global Smart Card Market Share is projected to grow at 18% CAGR throughout the forecast period (2017-2027). Multifunction cards serve as network system access and store value and other data.
All these convince allow Smart Cards to garner more popularity, demand, uptake, and market growth. Additionally, the COVID-19 pandemic is fostering smart card technology, promoting contactless transactions. Increased “Smart City” projects worldwide provide impetus to market growth. Simultaneously, government initiatives for infrastructure development & smart highways projects are fostering market growth.
The report has profiled some of the Important players prevalent in the global like – BrilliantTS Co. Ltd. (South Korea), PAX Global Technology Ltd. (Hong Kong), Rambus Inc. (the U.S.), STMicroelectronics NV (Switzerland), IDEMIA France SAS (France), VALID (Brazil), KONA I Co., Ltd. (South Korea), Fingerprint Cards AB (Sweden), HID Global Corporation (Sweden), Identiv, Inc. (the U.S.), Ingenico Group SA (France), Beijing Watchdata Co. Ltd. (China), Bitel Co. Ltd. (South Korea), VeriFone Systems, Inc. (the U.S.), NXP Semiconductors N.V. (Netherlands), Giesecke & Devrient GmbH (Germany), Sony Corporation (Japan), ZWIPE (Norway), CardLogix Corporation (the U.S.), Samsung Electronics Co., Ltd. (South Korea), Fujian Newland Computer Co., Ltd. (China), Versasec AB (Sweden), CPI Card Group Inc. (the U.S.), Infineon Technologies AG (Germany), and Gemalto N.V. (Netherlands). and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Smart Card.
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The global Smart Card Market Share has been segmented based on type, component, and application.
By type, the market has been segmented into contact, contactless, hybrid, and dual-interface.
By component, the market has been segmented into hardware, smart cards, readers, software, and services.
By application, the market has been segmented into government, healthcare, BFSI, retail, transportation, education, entertainment, and enterprises.
Smart Card Market Share – Regional Analysis
The Asia Pacific region dominates the Smart Card Market Share. Largest market share attributes to the broad uptake & implementations of meticulous smart cards in transportation systems. Besides, the rapid digitization of processes across industries, such as retail, healthcare, government, and BFSI, create substantial market demand. Countries like India, China, Japan, & Singapore hold the largest share in the regional market.
Moreover, emerging business models in this region, alongside the proliferation of IoT, foster the implementation of smart cards for payment processes, fuelling the regional industry expansion. The APAC Smart Card Market Share is expected to retain its dominance throughout the forecast period.
Europe stands second in the global Smart Card Market Share. The market growth is driven by awareness about the benefits of a Smart Card system. Additionally, the rising awareness for the advantages of RFID tags and Smart Card systems influence regional market growth.
Countries such as France, Germany, and the UK account for the significant growth contributors due to their rapidly growing banking, retail, and hospitality industries. The European Smart Card technology market is anticipated to grow at a faster rate during the forecast period.
The North America Smart Card Market Share witnesses rapid expansion stage, emerging as the fastest-growing market. The region witnesses a rapid expansion stage of Smart Card technologies due to the well-established economy. Factors such as the burgeoning banking sector and the increasing sales of electronic cash register systems boost the regional market growth.
The US and Canada are major markets for Smart Card system in the region. The North American Smart Card Market Share is expected to grow at an impressive CAGR during the forecast period.
Smart Card Market Manufacturers
Smart Card Market Distributors/Traders/Wholesalers
Smart Card Market Subcomponent Manufacturers
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