Smart Card Market Predicted To Grow Exponentially By 2025 - PowerPoint PPT Presentation

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Smart Card Market Predicted To Grow Exponentially By 2025

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More Information @ smart cards are being used with NFC-enabled mobile phones that have incorporated secure elements and are being used for several applications that include ticketing, mobile marketing and other mobile contactless payments. This has tremendously bolstered global smart card market share from sim and telecom segment applications. – PowerPoint PPT presentation

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Title: Smart Card Market Predicted To Grow Exponentially By 2025


1
Global Smart Card Market to hit 65 Bn by 2025
Global Market Insights Inc.
2
Industry Overview
  • Smart Card Market driven by Increasing banking
    and financial sector demand in the world to
    surpass USD 65 billion by 2025 and will witness
    10 CAGR during the forecast timespan.Evolving
    digital technology along with increasing access
    to cashless payments will foster smart card
    market forecast over the analysis period. The
    growing need to promote a cashless economy has
    encouraged the production of credit and debit
    cards. Smart city initiatives have also helped
    companies to develop smart solutions that could
    initiate identification and digital payment
    through smart cards in various sectors like
    transportation, financial, government,
    telecommunication, retail and healthcare.
  • Smart city initiatives will be vital and
    effective to stimulate the demand for smart
    cards. According to United Nations Department of
    Economics and Social Affairs, about 68 of the
    population of the entire world is expected to
    live in cities by the year 2050. These cities
    will be deployed with Internet of Things devices
    that will collect data in order to maintain the
    resources and asset as well as smart cards that
    will help transactions get much easier. Bengaluru
    in India, for instance, has been planning to
    adopt smart cards that could be used for cashless
    traveling in all the public transport systems.

3
Continue
  • The payment card industry has introduced the EVM
    payment card method which has boosted the
    adoption of smart cards significantly. Increasing
    focus on security of organizations and user
    information has transformed smart card market
    outlook, with the advent of products capable of
    short-range wireless connectivity and can also be
    used as a token for multifactor authentication.
  • Described below are some factors influencing the
    demand for smart cards over the coming years
  • Hybrid cards will witness a steady adoption owing
    to multifunctional features and several smart
    applications that will conveniently contribute
    towards smart card market size. With rapid
    urbanization, certain countries have increasingly
    provided mass transportation for public
    travelling for greater efficiency and lower cost.
  • Hybrid chips are typically used for such mass
    transits that demand fast transaction time. Surge
    in security concerns in association with
    transactions and personal information will foster
    the demand for hybrid cards owing to the high
    level of security possible.

4

Browse Full Market Research Report Of Smart Card
Market _at_ http//bit.ly/2lGV1sB Request for a
Sample of this Research report _at_
http//bit.ly/2mb4ubY
5
U.S. smart card market, by product, 2018 2025
(USD Million)

6
Continue
  • A hybrid card is also useful in accommodating the
    technology and infrastructure of a legacy system
    with the addition of e-card technologies in a
    single card. The products easy to use properties
    along with the high security provision will
    influence the product demand.
  • Rising use of microprocessors in the banking and
    mobile phone sectors will contribute to the
    product growth. Microprocessors have their own
    operating system that is capable of processing
    data as a reaction at a given situation. The
    smart card is practical and a powerful tool due
    to its capability to record and modify
    information in its own physically protected and
    non-volatile memory.
  • Emerging markets like E-passports, assess
    control, PKI and other applications wherein the
    cryptographic abilities addresses the issues of
    security particularly demand microprocessor
    cards, expanding smart card industry scope
  • Smart cards are secure elements and are widely
    used in the telecommunications industry around
    the world. These cards are used in two major
    applications like the prepaid telephone cards
    where the valued memory cards are stored as well
    as the Subscriber Identity Module (SIM)

7
Industry Coverage

8
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