NEW JERSEY, UNITED STATES, January 3, 2022 /EINPresswire.com/ -- Description

New Research Study "Powered Smart Card Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook" has been added to Coherent Market insight

Global powered smart card, by type segment, contactless sub-segment was accounted for 56.3% share in 2019 and is expected to grow at a CAGR of 11.2% between 2019 and 2027.

Smart cards are physical electronic authorization devices that find applications in providing control access to a resource. It is typically a plastic credit-card with an embedded integrated circuit (IC) chip. Smart cards primarily act as a cost-effective device to store, manage, and maintain credentials for end-users. Portability of smart cards facilitates their extensive utilization across various applications. Some include government (Identity Proof, Security Proof, and Identification Purposes), telecommunication (SIM & Universal Integrated Circuit Card [UICC]), and banking (Credit, Debit, and e-Commerce Cards). There are three types of smart cards namely hybrid smart cards, dual smart cards, and contactless smart cards.

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This report includes information on the industry's market growth as well as key segmentation variables that help the global Powered Smart Card Market prosper in today's environment. The report also emphasises the importance of regional classification in the global Powered Smart Card Market. Due to growing demand, the worldwide Powered Smart Card Market will eventually create more revenue and have a higher market size than the previous projected period.

Major Key players in this Market:

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

Drivers & Trends

The report has included a comprehensive analysis of different factors that fuel the growth of the Powered Smart Card market. It includes growth potential, drivers, restraints, industry-specific challenges and risks, and opportunities that transform the market in a negative or positive way. Every factor has been evaluated in detail to offer a complete accurate grasp of the market.

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Global Powered Smart Card Market Segmented into:

By Type
· Contactless Cards
· Hybrid Cards
· Dual- interface Cards

By Application
· Government
· Healthcare
· Transportation
· Telecommunication
· Financial Services, Retail, and loyalty
· Pay TV
· Energy and Utility (Smart Meters for Electricity, Water, and Gas)

Regional Classification

The Powered Smart Card market report sheds light on the analysis as well as market forecast on the regional and also the global level. Delving deep into the report, it also covers the various growth opportunities and recent trends across five regions, including the Asia Pacific (APAC), North America, Latin America, Europe, and the Middle East & Africa (MEA). An in-depth study has been carried out covering every region with regard to the prevalent trends, outlook, and different opportunities that are likely to impact the market positively in the long run. The report also offers the most up to date information related to the technological developments and growth prospects based on the regional landscape.

Method of Research

The report provides first-hand information performed by key players using quantitative & qualitative assessment as per the parameters of the Porter’s Five Force Model. It throws light on the macro-economic indicators, parent market trends, and growth factors. Primary (surveys, interviews, and questionnaires) & secondary researches (SEC filings, white paper references, and published reports) have been carried out to provide a better understanding of the market. The data used in the report has passed multi-step verification to assure both the authenticity as well as the quality of the insight that is provided. Bottom-up & top-down approaches are also used for ensuring the credibility of the valuations and market segments.

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Key Developments

- Key players in the market are focused on collaborations and agreement, in order to gain competitive edge in the market. For instance, in January 2018, Gemalto NV, a major provider of digital security, entered into agreement with Bank of Cyprus to provide the world's first EMV biometric dual interface payment cardfor both chip and contactless payments.

- Major market players are involved in product launching, in order to enhance their product portfolio. For instance, in June 2016, Oberthur Technologies launched its first dual interface card, integrated with the latest features of Visa and MasterCard for the U.S. market. The card has multi-payment features and is the first one to conform to MasterCard M/Chip Advance v1.2 and VISA 2.8.1g certifications. It is built on the company’s COSMO family of products and includes improved security features.

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Coherent Market Insights Pvt. Ltd.
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