Smart Cards (Contact, Contactless, Dual Interface and Hybrid) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

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Jan 05, 2015, 12:59 ET

DUBLIN, Jan. 05, 2015 /PRNewswire/ --Research and Markets

(http://www.researchandmarkets.com/research/fjt458/smart_cards) has announced the addition of the "Smart Cards (Contact, Contactless, Dual Interface and Hybrid) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.

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A smart card is basically a chip card that integrates an embedded chip. The embedded chip can be a memory chip or microcontroller/microprocessor. The smart card based on memory card are used to store memory and are least secured among all types of smart cards. The smart card based on microcontroller is used for storing credential information which is processed within the card's chip. The added functionality such as security, convenience, speed and ease of use offered by smart cards are driving its adoption worldwide.

Smart cards are classified based on type as contact based smart cards, contactless smart cards, dual interface smart cards and hybrid smart cards. Contact smart cards are powered by the reader and are generally used in low-end SIM cards in the telecommunication industry. Contactless smart cards are self-powered device and offer enhanced security over contact smart cards. Dual interface smart cards are combination of contact and contactless smart cards. With high expected reliability, dual interface smart cards have witnessed wide adoption in banking and government applications such as credit/debit and government IDs.

Hybrid cards contain more than one chip (smart) card inside it having no interface with each other and are basically multifunction cards used for several applications. Increasing security threats and growth in the fraudulent activities is propelling the adoption of smart cards globally. Industries that were traditionally served by various machine readable card technologies, such as magnetic stripe and barcode have commenced adoption of smart cards to cater to their requirements.

Decreasing cost of SIM cards and decline in the tariff rates is one of the key factors fueling the growth of smart cards market. Growth traction in online payments has enhanced vulnerability to security risks for banking and finance industry. This has surged the demand for secured and reliable payment transactions across the retail and BFSI industry, which in turn is driving the smart card technology innovations. Europay, MasterCard and Visa (EMV) chip technologies are becoming the global standards for debit card and credit card payments.

EMV cards combat fraud activities and guard insightful payment data stored in the cards. Contactless smart cards and dual interface smart cards help to enhance security, reduce frauds, and allow future value-added applications to the end-user industries including banking, telecommunication, and government. However, initial high cost to migrate to smartcard compatible readers is affecting the adoption of smartcards in many countries. Contactless smart cards accounted for 16.5% of the total market revenue in 2013.

The smart cards market is segmented into high-end and low-end applications. High-end applications include the government, health care, transportation, telecommunications, financial services, retail and loyalty and pay TV sectors. The high-end applications dominated the market by accounting for a major chunk of total market revenue in 2013.

Key Topics Covered:

Chapter 1 Preface

Chapter 2 Executive Summary

Chapter 3 Global Smart Cards Market Overview

Chapter 4 Global Smart Cards Market Revenue, by Type

Chapter 5 Global Smart Cards Market Revenue, by Components

Chapter 6 Global Smart Cards Market Revenue, by Applications

Chapter 7 Global Smart Cards Market Revenue, by Geography

Chapter 8 Company Profiles

Companies Mentioned: