Research and Markets - Global Smart Card Market in the Government Sector 2016-2020 - Key Vendors are Gemalto NV, Watchdata Technologies & Safran SA

DUBLIN, May 11, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Smart Card Market in the Government Sector 2016-2020" report to their offering.

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The report forecasts the global smart card market in the government sector to grow at a CAGR of 10.69% during the period 2016-2020.

Smart cards can be used in many sectors such as banking, financial services, and insurance (BFSI); transportation; government; and healthcare for identification and authentication. They provide individuals with authorized access to secured premises of an organization to ensure data security and confidentiality. Smart cards are used for various applications such as payments and transit ticketing.

With advances in technology, a number of vendors are offering multi-application smart cards. Multi-application smart cards are a combination of contactless and contact interfaces in a single card. They have shared storage and information processing and eliminate the need to carry multiple cards for different applications. By 2020, the government of India will implement the use of multi-application smart cards for national IDs and e-purses.

According to the report, with advances in technology, the number of incidences of identity fraud and forgery is increasing. There is a strong need for a solution that can prevent fraudulent activities. Smart cards have been introduced to reduce duplication or imitation of an individual's identity. The data stored on smart cards is difficult to forge or decode because it is secured with a PIN. Even in cases of lost and stolen cards, the chances of data theft or identity duplication are very low. As smart cards offer high security and are reliable, many government organizations are implementing the use of smart cards for different purposes such as passports and driving licenses.

Further, the report states that the high initial deployment and replacement cost of smart cards in some regions is a major challenge for the smart card market.

Key vendors:

• Gemalto NV
• Giesecke & Devrient GmbH
• Oberthur Technologies
• Safran SA
• Watchdata Technologies

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Life cycle analysis

PART 07: Geographical segmentation

PART 08: Market attractiveness

PART 09: Buying criteria

PART 10: Market drivers

PART 11: Impact of drivers

PART 12: Market challenges

PART 13: Impact of drivers and challenges

PART 14: Market trends

PART 15: Five forces model

PART 16: Vendor landscape

For more information visit http://www.researchandmarkets.com/research/fjcrzh/global_smart_card

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SOURCE Research and Markets