The
market was valued at USD 6.6 billion in 2013 and is expected to reach
USD 11.9 billion by 2020, growing at a CAGR of 9.0% from 2014 to
2020. Asia Pacific was the largest revenue contributor in 2013,
accounting for almost 50% of the global smart card market revenue.
The growth is mainly driven by increasing adoption of smart cards for
applications such as telecommunication, toll collection, ticketing,
and driver’s license, national and cross border identification
cards and others. Asia Pacific is expected to retain its dominant
position and is analyzed to be the fastest growing market for smart
cards during the forecast period. The Asia Pacific smart cards market
is estimated to grow at a CAGR of 10.1% from 2014 to 2020. China,
India, South Korea, and Japan are expected to be the major
contributors to the market in near term.
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Decreasing
price of SIM cards along with the requirements to migrate to EMV
standards are fueling adoption of smart cards across the
telecommunication and financial services, retail and loyalty sectors.
Moreover, with increasing security threats and fraudulent activities,
the increase in the demand of highly secure and expedited
transaction, communication and identification solutions from several
sectors such as telecommunications, healthcare, government, and
transportation, is also contributing to the growth of the market.
Smart
cards are classified based on components as memory based smart cards
and microcontrollers based smart cards. Memory based smart cards are
powered by card reader and are mainly used in low-end and mid-end SIM
cards. Microcontrollers based card usage is driven by the added
functionality such as security and intellectual data processing
capabilities. Based on incorporation of the components, different
smart card types are available in the market, which include contact
smart cards, contactless smart cards, dual interface smart cards and
hybrid smart cards. Of these smart card types, contact smart cards
are expected lose market share to contactless and other card types.
Contactless smart cards provide a technology platform for adding new
applications to access control systems and facilitate more secure
identity verification for both physical and logical access.
Additional security features provided by contactless and dual
interface smart cards is driving their adoption in ATM/credit/debit
cards and eIDs, and transportation IDs among others. Contactless
smart cards accounted for 16.5% of the total smart cards market
revenue in 2013.
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Geographically,
Asia Pacific dominated the global smart cards market in 2013. This
was mainly due increasing number of mobile subscribers which in turn
is propelling the growth for SIM cards and in turn smart cards. The
global market for smart cards was concentrated with leading players,
such as Gemalto NV, Giesecke & Devrient (G&D) GmbH, and
Oberthur Technologies, collectively accounted for more than 66.0% of
the global market revenue in 2013. Other players competing in the
market include Morpho S.A., Eastcompeace Technology Co., Ltd.
Watchdata, Datang Telecom Technology & Industry Group,
and Wuhan Tianyu Information Industry Co., Ltd.
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Press Release Smart Cards Market
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The
Smart Cards Market Segmentation:
Smart
Cards Market, by Type
- Contact Smart Card
- Contactless Smart Card
- Hybrid Smart Card
- Dual-interface Smart Cards
Smart
Cards Market, by Components
- Memory Cards
- Microcontroller Cards
Smart
Cards Market, by Applications
High-End
Applications
- Government Sector
- Healthcare Sector
- Transportation Sector
- Telecommunications Sector
- Pay TV Sector
- Financial Services, Retail and Loyalty Sector
Low-End
Applications
Smart
Cards Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (Africa, Middle East and Latin America)
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