Smart Card Market Size By Solution (Smart Card [Product {Contact, Contactless, Hybrid, Dual Interface}, Type {Memory Card, Microprocessor Card}], Smart Card Reader [Component {Hardware, Software, Service}, Product {Contact, Contactless}]), By Application (SIM & Telecom, Financial, Government & Health, Retail & Gas, Access Control, Transportation, Loyalty), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Aug 2019  |  Report ID: GMI4312  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 550   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Smart Card Market size valued at over USD 30 billion in 2018 and will grow at a CAGR of 10% from 2019 to 2025. The global industry shipment is expected to reach 35 million units by 2025.

Smart Card Market

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Industry sectors including financial, telecommunication, government, health, retail & gas, transportation, etc., are storing and releasing a large amount of data via cloud technology. These organizations continue to move to smart card technology to make the required data/information available to their customers with additional security to protect an individual’s identity and assets. Smart card manufacturers in several countries including India, the U.S., Germany, Singapore, Malaysia, China, and UK are continuously growing their reach and targeting more businesses by expanding their products & services portfolio.

Smart card market is evolving with several technological advancements such as power harvesting, the latest architecture such as System-on-Chip (SOC), and fingerprint sensor manufacturing. Several industry players are testing biometric payment cards and it is expected that over the forecast timeline, smart payment cards will become a major consumer product to be integrated with embedded biometrics. Gemalto has already run a successful pilot with fingerprint authentication in 2017. Currently, the British bank NatWest is running a trial on the new NFC payment card with a built-in fingerprint scanner, which will allow participants to make NFC payments without requiring a PIN input. However, with the deployment of this technology, users are required to visit a bank rather than doing it themselves from any location as they can use mobile payment solutions such as Google Pay or Apple Pay. Companies are working on much advanced versions of technologies, which will not require users to visit banks and will allow them to use their smartphones to register their fingerprints.

Smart Card Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 30 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 10% 2025 Value Projection: 65 Billion (USD)
Pages: 550 Tables, Charts & Figures: 858
Geographies covered (27): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, Switzerland, Turkey, China, India, Japan, Australia, South Korea, Taiwan, Singapore, Malaysia, Thailand, Mexico, Brazil, Argentina, UAE, Saudi Arabia, Qatar, South Africa
Segments covered: Solution, Application and Region
Companies covered (26): American Banknote Corporation, Bartronics, Beijing Datang Smartcard Technology Co. Ltd, Cardcom Technology, CardLogix Corporation, CPI Card Group, Eastcompeace Technology Co. Ltd, Gemalto NV, Giesecke & Devrient (G&D) GmbH, Goldpac Group, HENGBAO, Hypercom, IDEMIA, Infineon Technologies AG, Ingenico, Inteligensa Group, KONA I, NXP Semiconductors NV, Oberthur, Perfect Plastic Printing Corporation, SCM Microsystems, Square, Inc., VALID, Verifone, Watchdata, Wuhan Tianyu,
Growth Drivers:
  • Ongoing technological advancements
  • Growing adoption in the banking and financial sector
  • Infrastructure development initiatives across the globe stimulates smart card demand
  • Rising demand in the healthcare sector in Europe
  • Increasing investments and developments in Asia Pacific
Pitfalls & Challenges:
  • Security related concerns

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By Solution

Payment industry is continuously evolving and has been at the forefront of technological advancements across sectors such as transportation and banking & financial due to which card-based contactless payments are set to grow significantly globally. Contactless technology in smart cards reduces the need for conventional ticketing, resulting in low operating cost while making it quick & easy for the consumer to transit and less expensive for operators to run & monitor their network. In February, Visa and Planeta Informatica launched a technology Visa Secure Access Module (SAM) that facilitates players in the transit industry to implement contactless payments without necessarily deploying a new hardware.

Dual interface smart card market is poised to grow across several industries including banking, retail, transport, government, etc., that have larger memory requirements than a standard card, high security, and dual interfaces. Unlike hybrid cards, dual interface cards are embedded with a single chip that can be accessed either through an embedded antenna or contact pads. However, hybrid cards are embedded with two or more chip technologies such as contact smart chip with contact pads, contactless chip, proximity chip, etc. Dual interface cards offer ease-of-use and are highly secure. In the transportation industry; for instance, the money can be securely loaded using the contact interface and customers can make transactions during transit using the contactless interface.

Significant growth in the overall smart card industry over the years has been encouraging players in the smart card reader market to develop solutions integrated with highly advanced software for specific industry requirements. Several software solution companies are popping up in the market offering SDKs for different industry verticals to support specific manufacturer’s card portfolio.

By Application

Global smart card market by application

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Access control, transportation, retail & gas, and government are the major applications witnessing growth in the smart card market. Card-based access control systems are rising in prominence due to the high demand for security systems, eliminating the need for passwords & numerical PIN access and offering large memory capacity, high security, and safety against breaches. Moreover, the technology is capable of screening, monitoring, and managing the entry of individuals and restricting the unauthorized entry with minimal staff requirements and high efficiency.

Government sector across the globe has significantly increased its focus on using smart cards for enhancing interaction with their citizens. National level smart ID cards help in ensuring access to any given services to entitled citizens and enhance service delivery. Governments of several countries including the U.S., India, China, the UK, Germany, France, Singapore, etc., are increasingly adopting smart cards for applications including ID cards, e-passport, driving license, and health cards.

By Region

Asia Pacific smart card industry by country

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Asia Pacific dominated the smart card market with over 40% revenue share in 2018, which will continue to grow over the future due to the rising adoption across countries including Malaysia, Singapore, India, China, Vietnam, etc. In Vietnam, along with economic development, the demand for electronic payments is expanding and the country is becoming an attractive market to many foreign investors such as Korea Trade-Investment Promotion Agency (KOTRA), Japan External Trade Organization, and US-ASEAN Smart Cities Partnership, creating several industry opportunities. However, the cash-based payment system still dominates the country.  To make the economy more digital, projects such as Pilot Project for Nurturing New Industries between ASEAN and JAPAN are being tested in the country. The project aims at promoting the standardization of smart card usage across industries including restaurants, supermarkets, gas stations, etc.

The government of India is taking several initiatives in support of making India a digital economy, creating huge opportunities in the country. The Union Ministry of Road Transport and Highways in India is working toward modifying the format of driving licenses to smart cards to follow a standardized format nationwide. The Telangana government has been planning to develop and implement One Telangana Card, a smart card ecosystem, for payments related to travel services.

Competitive Market Share

Players operating in the smart card market include Cardcom, Gemalto NV, CardLogix, Hypercom, Verifone, SCM Microsystems, Bartronics, NXP Semiconductors NV, Infineon Technologies AG, Giesecke & Devrient (G&D) GmbH, Ingenico, and Square, Inc. The market is highly fragmented with the presence of several software providers, card manufacturers, reader manufacturers, component suppliers, etc. The industry players focus on expanding their product portfolio by incorporating advanced technologies to strengthen their market reach and target new customers. Several organizations are planning to expand across countries with high economic developments and digital advancements.

Industry Background

Rising demand for smart card technology can be credited to features such as convenience and security of any transaction. The technology is highly reliable compared to other traditional card systems including barcode and magnetic strip cards. It allows secured data storage with high huge memory and safeguards information with encryption. With the growing knowledge on the benefits of the smart card technology, several industry verticals are exploring and adopting the technology to make information readily available to their customers while protecting the stored user data.

Frequently Asked Questions (FAQ) :

Industries worldwide are adopting smart card technology to make the required data accessible to end-users with additional security.
The market is lately defined by trends such as power harvesting, new architectures such as SOC (System-on-Chip), fingerprint sensors, and biometric payment cards.
Dual interface smart cards are anticipated to gain traction across numerous industries, as they are embedded with a single chip that could be accessed either via contact pads or an embedded antenna.
The government sector is extensively adopting smart cards for enhancing interaction with citizens, as national level smart ID cards ensure access to a service to certain citizens and enhance service delivery.

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