What is Powered Smart Cards Market?
Smart cards are IC-based cards that use various computer systems to collect and retrieve information. First and foremost, smart cards are used as low-cost devices for storing and managing credentials for the end-users. Smart cards based on microcontrollers enable intelligent communication and have dynamic data processing functions on the card. The demand for smart cards based on microcontrollers is mainly determined by additional security compared to memory-based smart cards. Smart controllers with embedded microcontroller power supplies use a card operating system (COS) that is similar to the hard disk operating systems (DOS) in a computer.
The market study is being classified by Type (Contactless Cards, Dual-interface Cards and Hybrid Cards), by Application (Government Sector, Healthcare Sector, Transportation Sector, Telecommunication Sector, Pay TV Sector, Financial Services, Retail and Energy and Utility Sector) and major geographies with country level break-up.
Safran Identity and Security (France), Oberthur Technologies (France), Samsung (South Korea), Thales Group (France), Giesecke & Devrient GmbH (Germany), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Texas Instruments Incorporated (United States) and Watchdata Technologies Ltd. (Singapore) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Eastcompeace Technology Co. Ltd. (China), Datang Telecom Technology Co. Ltd. (China), Wuhan Tianyu Information Industry Co. Ltd. (China) and Shanghai Huahong Integrated Circuit Co. Ltd. (China).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Players will contribute to the maximum growth of Global Powered Smart Cards market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Powered Smart Cards market by Type, Application and Region.
On the basis of geography, the market of Powered Smart Cards has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Adoption of Microcontroller-Based Powered Smart Cards in the Banking and Financial Sectors
- Growing Deployment in Personal Identification and Access Control Application
- Growing Demand for Secure and Reliable Payment Transactions
- Improved Security for Offices and Residential and Commercial Buildings
- The Rapidly Shifting Landscape in the Wake of the COVID-19 Pandemic
- The Increasing Trend of Organizations, To Move toward the Digitalization of Payment Processes and Efficient Storage of Personal Data
- The Convergence of Powered Smart Cards and Additional Services That Card Issuing Companies Could Include As Part of Their Offering
- High Costs of Migration to Powered Smart Cards
- Rising Technological Proliferation Has Led To the Development of Innovative Techniques
- The Growing Adoption of Internet-Of-Things (IoT) and Advancements in Micro-Embedded Electronics
- The Increasing Globalization As well As the Adoption of Smart Cards and E-passports In Banking Systems
- The Exploitation of Stolen / Lost Contactless Cards, And Technical Challenges
- The Reluctance of Small Retailers and Shopkeepers in Adopting Contactless PoS Systems
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Providers of Powered Smart Cards, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
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