Market Highlights

Contactless Smart Card Market Size utilize radio frequency identification (RFID) innovation to remotely speak with a card peruser. A copper or aluminum recieving wire is associated with a coordinated circuit (chip) and afterward safely overlaid inside plastic card body under high hotness and tension. Contactless smart cards range from basic memory cards with low security and non-unpredictable memory structure up to high-security crypto-processor cards and Java/Native working framework (OS) cards.

Contactless smart card frameworks are by and large broadly utilized in different applications like actual security, following, installment frameworks, and some more. The utilization of RFID frameworks has developed rapidly throughout the last ten years and is quickly turning into a typical piece of regular day to day existence. The point of contactless smart card innovation is to give minimal expense "no-contact" correspondence, which can make a validated, and alternatively, the scrambled channel of correspondence between the card peruser and the closest smartcard.

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Segmentation:

The report is segmented into types, applications, technologies, and regions. The type segment is sub-segmented into proximity cards and CPU/MPU cards. The application segment is sub-segmented into BFSI, government, transportation, healthcare, defense, retail, loyalty, and others.

The technology segment is sub-segmented into smartcard integrated circuits, memory smart cards, microprocessor smart cards, and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and Rest-of-the-World.

Contactless Smart Card Market – Regional Analysis

The Asia Pacific region leads the contactless smart card market due to the broad uptake & implementations of these cards in transportation systems. Besides, the largest market share attributes to the rapid digitization of processes across industries, such as retail, healthcare, government, and BFSI. India, China, Japan, and Singapore are major markets for contactless smart cards.

Moreover, emerging business models and the proliferation of IoT in this region foster the market demand. Europe is the second-largest market for contactless smart cards globally. The market growth is driven by the growing awareness about the contactless smart card benefits and advantages of RFID tags. France, Germany, and the UK account for significant shares in the regional market, with their rapidly growing banking, retail, and hospitality industries.

The North American contactless smart card market witnesses rapid expansion stage, emerging as the fastest-growing market. Factors such as the rapidly growing banking sector and the increasing sales of electronic cash register systems in the region boost the market growth. The US and Canada lead the contactless smart card market in the region.

Contactless Smart Card Market – Competitive Landscape

The market appears well-established and fragmented, with several key players forming a competitive landscape. Mature players incorporate strategies, such as mergers & acquisitions, collaboration, expansion, and product launch to gain a larger competitive share. These players focus on innovations and new product development, fuelling the already intensified market competition. They make substantial investments in R&D to develop a technology with unique design and features on an entirely different level than their competition.

Major Players

Players leading the contactless smart card market include Gemalto NV (Netherlands), ASK (France), Giesecke & Devrient (Germany), Oberthur Technologies (France), Morpho (France), Watchdata System (Singapore), CardLogix (US), Advanced Card Systems (China), DataCard Corporation (US), and DataCard Corporation (Germany), among others.

Industry/Innovation/Related News:

May 19, 2021 ---- Conduent Transportation, a leading business process services and solutions company, announced the successful introduction of contactless payment on Brescia Mobilità’s bus fleet. The new system is an account-based ticketing contactless payment system. Riders in Brescia now have a seamless payment system that connects the city’s entire public transportation network.

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Contactless Smart Card Market Research Report: By Type (Proximity Card & CPU/MPU Cards), Application (BFSI, Government, Transportation), Technology (Smartcard Integrated Circuits, Memory Smart Card) - Forecast till 2027

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