Tag: Smart Card market

Global Smart Card Market in the Government Sector 2015-2019

Smart card is a pocket-sized card, generally made of plastic, which is embedded with integrated circuits or microchips. It is used for authentication, identification, data storage, and application processing. Smart cards are classified into two types: contact-based and contactless. Contact-based smart cards have a contact area of approximately 1 square cm. These cards are inserted into the smart card reader. Contactless smart cards are embedded with integrated circuits that process and store data and communicate with a terminal via radio frequencies. These cards are used by employing a radio frequency between card and the reader that needs no physical insertion of the card. Therefore, contactless smart cards have faster applications and are user-friendly. Contactless smart cards are widely accepted and used by some of the major sectors such as BFSI, Government, Transportation, Healthcare, and Defense.

Global Smart Card market in the Government sector to grow at a CAGR of 10.2 percent over the period 2014-2019.

Many defense agencies in developed nations have been employing smart cards for identification and access control, which has encouraged similar organizations in developing countries to adopt smart cards.

“The demand for smart cards in defense sectors worldwide has increased significantly in recent years and is expected to continue during the forecast period,”.

The new report also emphasizes the availability of twin cards that have two different chip technologies in one. These cards are a combination of a contactless and contact interface on a single card, which eliminates the need to carry two cards.

“The need to carry multiple cards is eliminated with the use of twin cards because these cards have shared storage and processing abilities. With data and information being consolidated in a single smart card, it provides ease of handling,”.

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Covered in this Report

This report covers the present scenario and the growth prospects of the Global Smart Card market in the Government sector for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of smart cards in the Government sector, though it does not include revenue generated from the sales of contactless smart cards in the same.

Global Smart Card Market in the Government Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, North America, and the MEA region; it also covers the Global Smart Card market landscape in the Government sector and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

Smart Card Market in the APAC Region 2015-2019

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.

Smart Card market in the APAC region to grow at a CAGR of 5.6 percent over the period 2014-2019.

One of the major trends in APAC is the increased usage of e-purses to eleminate the need for carrying cash. To add to this, heightened e-commerce activity in the APAC region is making consumers aware of its safeguard features and benefits. These developments are encouraging banks to issue smart cards instead of the traditional magnetic tape-based debit and credit cards.

Made of plastic, smart cards are being used for security, authentication, identification, data storage, and application processing. Magnetic tapes in debit and credit cards can be tampered with, leading to monetary loss and insecure transactions. Hence, the need for a tamper-resistant information storage system is driving the adoption of smart cards. As the technology used in smart cards improves further, the demand for smart cards is expected to grow over the years.

“As a downside of advances in technology, fraudulent systems have also emerged leading to an increase in the number of cases of fraud and forgery,”.

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“Therefore, there is an urgent need for a solution that makes it difficult to duplicate date. Data available in smart cards are difficult to decode and are, hence, safe even in the eventuality of a theft or misplacement. Thus, the adoption of smart cards is finding growing relevance, especially in the Government sector.”

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:

Contact-based
Contactless

The report consolidates the revenues generated from the following major sectors:

BFSI Sector
Government Sector
Transportation Sector

Smart Card Market in the APAC Region 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Smart Card market in the APAC region and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

To define the market conditions in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.