According to the latest market report published by Persistence Market Research, titled Smart Cards Market : Global Revenues Driven by Rising Demand for Smart Cards in Telecom Application Report. Smart cards continue to gain traction in terms of application in sectors such as telecom, government, and financial services. Global smart card market volume is expected to surpass.
Smart card demand is escalating owing to high volume of adoption for government identity cards. In addition, increasing adoption of chip technology as the global standard for credit card and debit card payments is projected to boost global sales of smart cards.
Contact cards will continue to be the largest card segment in 2016 as well, representing 64.0% revenue share of the global market. Contactless card – another key card type segment – is expected to account .
The leaders in the global smart card market. The global smart card market is highly fragmented, with the top three players accounting for around 59.0% revenue share in 2015. Leading companies are looking to expand their production capacity, especially in Asia Pacific, which is one of the major smart card markets. Companies are also focussing on launching new smart card products for government and transportation applications, in a bid to cater to the growing demand for smart cards in emerging economies. The escalating demand for SIMs for telecom application is anticipated to boost growth of the smart card market. Developing economies are expected to remain key target markets for smart card manufacturers.
Persistence Market Research is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of Smart cards analysts to share data that precisely corresponds to clients' business needs.
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