Smart card market is anticipated to grow at a considerable CAGR of 7.5% during the forecast period (2024-2031).A smart card is a small, portable computer that is about the size of a credit card. It contains a microprocessor, some memory, and a few applications. They can store large amounts of data, perform on-card functions, and interact with a smart card reader.The growing adoption of these cards owing to the faster transaction times and improved user experience is a key factor driving the global market. However, the high initial investment in smart cards may restrain its market growth.
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The rising emergence of smart cities is a key factor driving the global market. The growing integration of smart cards in smart cities projects for payment, authentication, loyalty programs, and data storage has driven its global market growth. For instance, in May 2023, under Gujarat’s smart city initiative, the government has been integrating property smart cardsfor sustainable urban development. Property Smart Card is an innovative technology that integrates various services and utilities onto a single smart card. It can also be integrated with other smart city systems to provide valuable data on citizen behavior and usage patterns. Such initiatives are further contributing to the global market growth.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Smart Card Market by Type
- Contact Based
- Contactless
Global Smart Card Market by End-User Industry
- BFSI
- IT & Telecom
- Government
- Transportation
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Alioth LLC
- CPI Card Group Inc.
- Eastcompeace
- Fingerprint Cards AB
- Gemalto NV (Thales Group)
- Giesecke & Devrient GmbH (MC Familiengesellschaft mbH)
- HID Global Corp. (Assa Abloy AB)
- IDEMIA France SAS
- Infineon Technologies AG
- Inteligensa
- KONA I Co. Ltd.
- NXP Semiconductor N.V.
- Samsung Electronics Co. Ltd.
- Texas Instruments Inc.
- Thales Group
- Watchdata Technologies, Inc.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart card market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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