Major Applications of Contactless Smart Cards

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MarketsandMarkets Presents

Major Applications of Contactless Smart
Cards Smart Card Market by Communication
(Contact and Contactless), Component (Hardware,
Software, and Services), Application (BFSI,
Government and Healthcare, Transportation,
Retail, and Others) and Geography - Global
Forecast to 2023 https//www.marketsandmarkets.co
m/Market-Reports/smart-card-285.html
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The Smart Card Market is expected to reach USD
21.57 billion by 2023 from USD 14.22 billion in
2018, at a CAGR of 8.7 between 2018 and
2023. Use of smart cards in the BFSI sector has
also been rising, supported by the transition of
magnetic cards to EuroPay, MasterCard, and Visa
(EMV) standard (chip and PIN) cards. EMV
standards mandate the use of smart cards such as
credit/debit/ATM and prepaid cards in financial
transactions. The major factors driving the
growth of the smart card market include
increasing use of online payment methods enabling
consumers to make secure and reliable payments.
In line with this, the use of contactless smart
cards has gained remarkable consideration as
electronic payment methods are rapidly replacing
cash and carry operations. Browse 68 market data
Tables and 42 Figures spread through 144 Pages
and in-depth TOC on "Smart Card Market  - Global
Forecast to 2023"
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Contact smart cards to hold the largest market
share by 2023 Contact smart cards are expected
to hold the largest share of the smart card
market throughout the forecast period. Currently,
contact smart cards account for more than
three-fourth of the smart card market and are
widely used in BFSI, government and healthcare,
and retail applications. The major applications
of contactless smart cards are in BFSI,
government and healthcare and transportation
applications. Ask PDF Brochure https//www.marke
tsandmarkets.com/pdfdownloadNew.asp?id285 Hardwa
re expected to hold the largest market share by
2023 Hardware is expected to hold the largest
share of the smart card market, by component,
during the forecast period. Currently, hardware
accounts for more than three-fourth of the smart
card market, which comprises smart cards and
readers. The smart card market for software
comprises management system software and
databases. Management system software is used to
match information of a person with the saved data
in a particular database. Consulting, support,
and maintenance services play a vital role in
implementing smart card systems.
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Market for transportation applications to grow at
the highest rate during the forecast period The
smart card market for transportation applications
is expected to grow at the highest CAGR during
the forecast period. Smartcards are used for
parking fee payment as well as for transit fare
payment in the transportation sector. Transit
ticketing systems are transforming into
open-payment systems owing to the introduction
and widespread adoption of debit and credit
cards. The transportation sector is operating in
compliance with EMV, which is an open-standard
specification for smart card payments. EMV-based
solutions are deployed in parking infrastructure
to avoid fraud and complications. Request Free
Sample Pages https//www.marketsandmarkets.com/re
questsampleNew.asp?id285 Asia Pacific to hold
the largest share of the smart card market during
the forecast period Asia Pacific is expected to
hold the largest share of the smart card market
during the forecast period owing to the
increasing demand specifically in the
transportation, BFSI, retail, government, and
healthcare sectors. Companies in developing
countries such as India, China, Malaysia, and
Thailand are implementing smart cards to make the
process of payments and other documentations easy
for consumers. Smart cards are used to purchase
tickets in metros, buses, and ferries, among
others, in several countries in APAC.
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• Key players in this market are Gemalto N.V.
  (Netherlands), Giesecke Devrient GmbH
  (Germany), IDEMIA France SAS (France), Infineon
  Technologies AG (Germany), NXP Semiconductors
  N.V. (Netherlands), Sony Corporation (Japan),
  Samsung Electronics Co., Ltd. (South Korea), HID
  Global Corporation (Sweden), STMicroelectronics
  NV (Switzerland), Ingenico Group SA (France),
  VeriFone Systems, Inc. (US), Beijeng Watchdata
  Co. Ltd. (China), Rambus Inc. (US), CPI Card
  Group Inc. (US).
• Recent Developments
• In January 2018, Thales Group finalized the
  financing of its proposed Gemalto acquisition,
  expected to be completed in the second half of
  2018.
• In November 2017, Gemalto partnered with the
  Center for Identity at the University of Texas at
  Austin for facilitating research on identity
  management, privacy, and security.
• In June 2017, GD Mobile Security division
  completed the acquisition of CPS Technologies
  from IDEMIA (OT-Morpho) to strengthen its
  business in France by providing bank card
  personalization and service management center
  services. CPS Technologies provides delivery and
  card personalization, identification, transport,
  and loyalty services.

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