Albany, NY (PRWEB) February 05, 2015
According to a new market report published by Transparency Market Research, “Smart Cards Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” the market was valued at USD 6.6 billion in 2013 and is expected to reach USD 11.9 billion by 2020, growing at a CAGR of 9.0% from 2014 to 2020. Asia Pacific was the largest revenue contributor in 2013, accounting for almost 50% of the global smart card market revenue. Asia Pacific is expected to retain its dominant position and is analyzed to be the fastest growing market for smart cards during the forecast period. The Asia Pacific smart cards market is estimated to grow at a CAGR of 10.1% from 2014 to 2020. China, India, South Korea, and Japan are expected to be the major contributors to the market in the near term.
Browse Full Smart Cards Market Report : http://www.transparencymarketresearch.com/smart-card.html
Increasing security threats and fraudulent activities, the increase in the demand of highly secure and expedited transaction, communication and identification solutions from several sectors such as telecommunications, healthcare, government, and transportation, is also contributing to the growth of the market.
Smart cards are classified based on components as memory based smart cards and microcontrollers based smart cards. Memory based smart cards are powered by card readers and are mainly used in low-end and mid-end SIM cards. Microcontrollers based card usage is driven by the added functionality such as security and intellectual data processing capabilities. Based on incorporation of the components, different smart card types are available in the market, which include contact smart cards, contactless smart cards, dual interface smart cards and hybrid smart cards. Of these smart card types, contact smart cards are expected lose market share to contactless and other card types. Contactless smart cards provide a technology platform for adding new applications to access control systems and facilitate more secure identity verification for both physical and logical access. Additional security features provided by contactless and dual interface smart cards is driving their adoption in ATM/credit/debit cards and eIDs, and transportation IDs among others. Contactless smart cards accounted for 16.5% of the total smart cards market revenue in 2013.
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Geographically, Asia Pacific dominated the global smart cards market in 2013. This was mainly due to the increasing number of mobile subscribers which in turn is propelling the growth for SIM cards and in turn smart cards. The global market for smart cards was concentrated with leading players, such as Gemalto NV, Giesecke & Devrient (G&D) GmbH, and Oberthur Technologies, collectively accounted for more than 66.0% of the global market revenue in 2013. Other players competing in the market include Morpho S.A., Eastcompeace Technology Co., Ltd. Watchdata, Datang Telecom Technology & Industry Group, and Wuhan Tianyu Information Industry Co., Ltd.
Other Report : Personal and Entry Level Storage Market : http://www.transparencymarketresearch.com/personal-entry-level-storage.html
The report includes analysis of global smart cards market and provides estimates in terms of revenue (USD Million) from 2012 to 2020. Market estimates are provided for segments, categorized on the basis of types, components, applications and geography. The market has been segmented as follows:
Market Segmentation of Global Smart Cards Market:
Smart Cards Market, by Type
Contact Smart Card
Contactless Smart Card
Hybrid Smart Card
Dual-interface Smart Cards
Smart Cards Market, by Components
Smart Cards Market, by Applications
Pay TV Sector
Financial Services, Retail and Loyalty Sector
Smart Cards Market, By Geography
Rest of the World (Africa, Middle East and Latin America)
Browse Full Segmentation & Press release : http://www.transparencymarketresearch.com/pressrelease/smart-card.htm
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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