Global Market Study on Powered Smart Cards: Latin America Anticipated to Register the Highest CAGR of 12.8% from 2016 to 2024


  • Published On : Oct-2016 |
  • Pages : 271 Pages |
  • Format :

Persistence Market Research analyzes the performance of the global powered smart card market over an eight-year forecast period (2016 – 2024) in a newly published report. The report analyzes opportunities present in the market and highlights updates and insights pertaining to various segments of the global powered smart card market. Persistence Market Research also throws light on the key drivers and trends likely to impact the global powered smart card market over the next eight years. 

Smart cards are IC based cards that accumulate and retrieve information using various computer systems. Smart cards primarily act as cost-effective devices to store, manage, and maintain credentials for end users. To understand and assess the demand and opportunities in this market, the report is categorically split into three major sections – by type, by application, and by region. The report analyzes the global powered smart card market in terms of market value (US$ Mn) and volume (Mn units). 

The report starts with a market overview and market definition; and provides an analysis of the drivers, restraints, opportunities, and key trends influencing the market. The following sections include a comprehensive analysis of the global market – by type, by application, and by region. The report evaluates the market and presents an in-depth analysis of the market size in terms of value and volume – based on various factors affecting the market covering both the present scenario and future prospects. For market data analysis, the report considers 2015 as the base year, with the forecast provided for the period 2016–2024. 

The final section of the report presents a detailed competitive landscape of the global powered smart card market and profiles some of the companies operating in this market. The companies featured in the report are Safran Identity and Security (Morpho SA), Oberthur Technologies, Gemalto NV, Giesecke & Devrient GmbH, Eastcompeace Technology Co. Ltd., Watchdata Technologies Ltd., Datang Telecom Technology Co. Ltd., Wuhan Tianyu Information Industry Co. Ltd., Infineon Technologies AG, NXP Semiconductors N.V., Shanghai Huahong Integrated Circuit Co. Ltd., Samsung, and Texas Instruments Incorporated. 

Research methodology

To deduce the global powered smart card market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by type, application, and region; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global powered smart card market.

The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global powered smart card market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities in the global powered smart card market.

Another key feature of this report is an analysis of the global powered smart card market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global powered smart card market. Further, to understand key segments in terms of their growth and to determine the overall global powered smart card market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global powered smart card market.

Smart cards are IC based cards that accumulate and retrieve information using various computer systems. Smart cards primarily act as cost-effective devices to store, manage, and maintain credentials for end users. The global powered smart card market was valued at US$ 2,844.5 Mn in 2015 and is expected to register a CAGR of 52% to reach US$ 6,925.8 Mn by 2024.

Key market dynamics

Growing demand for secure and reliable payment transactions, improved security for offices and residential and commercial buildings, and a rising number of mobile phone connection subscribers worldwide are factors likely to drive the demand for the global powered smart card market. However, high costs of migration to powered smart cards, exploitation of stolen / lost contactless cards, and technical challenges faced by enterprises are some of the restraints expected to hinder the growth of the global powered smart card market over the forecast period. A major challenge faced by global powered smart card market players is the reluctance of small retailers and shopkeepers in adopting contactless PoS systems.

Major opportunities for growth in the global powered smart card market lie in the convergence of powered smart cards and additional services that card issuing companies could include as part of their offering.

Segment analysis

The global powered smart card market is segmented on the basis of Type into Contactless Cards, Dual-interface Cards, and Hybrid Cards; and on the basis of Application into Government Sector,          Healthcare Sector, Transportation Sector, Telecommunication Sector, Pay TV Sector, Financial Services, Retail, and Loyalty Sector, and Energy and Utility Sector (Smart Meters for Electricity, Water, and Gas). The Contactless Cards segment in the global powered smart card market was valued at US$ 1,531.7 Mn in 2015 and is expected to expand at a CAGR of 11.2% to reach US$ 4,069.9 Mn by 2024. In terms of consumption, the Government Sector segment in the global powered smart card market stood at 297.4 Mn units in 2015, and is expected to expand at a CAGR of 11.2% to reach 773.0 Mn units by 2024 end. The Healthcare Sector segment in the global powered smart card market was valued at US$ 49.1 Mn in 2015 and is expected to expand at a CAGR of 9.8% to reach US$ 114.8 Mn by 2024.

powered smart card market

Regional analysis

The global powered smart card market is segmented on the basis of region into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In terms of revenue, the Latin America market is anticipated to register the highest CAGR of 12.8% during the forecast period. The market in Asia Pacific is estimated to account for the highest market share of 44.2% by the end of 2016 and is expected to remain the dominant market in terms of revenue in the global powered smart card market. 

Key market players

Safran Identity and Security (Morpho SA), Oberthur Technologies, Gemalto NV, Giesecke & Devrient GmbH, Eastcompeace Technology Co. Ltd., Watchdata Technologies Ltd., Datang Telecom Technology Co. Ltd., Wuhan Tianyu Information Industry Co. Ltd., Infineon Technologies AG, NXP Semiconductors N.V., Shanghai Huahong Integrated Circuit Co. Ltd., Samsung, and Texas Instruments Incorporated are some of the companies operating in the global powered smart card market. Market players are focusing on innovative ways to expand their customer base and consolidate their position in the market. Powered smart card vendors are exploring various applications where contactless cards can be deployed – such as in transportation and medical institutions. With extensive presence worldwide and extensive product offerings catering to the demand for payment in government and telecom applications, key players are focused on gaining significant revenue share in the global powered smart card market.

Company Profiles

  • Safran Identity and Security (Morpho SA),
  • Oberthur Technologies,
  • Gemalto NV,
  • Giesecke & Devrient GmbH,
  • Eastcompeace Technology Co. Ltd.,
  • Watchdata Technologies Ltd.,
  • Datang Telecom Technology Co. Ltd.,
  • Wuhan Tianyu Information Industry Co. Ltd.,
  • Infineon Technologies AG, NXP Semiconductors N.V.,
  • Shanghai Huahong Integrated Circuit Co. Ltd.,
  • Samsung, and Texas Instruments Incorporated
  • Others
Back To Top