© 2016 Global Market Insights, Inc. USA. All Rights Reserved Global Smart Card Market to hit $65 Bn by 2025: Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  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 Card Market  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 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. Industry Overview

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  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. Continue…

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© 2016 Global Market Insights, Inc. USA. All Rights Reserved U.S. smart card market, by product, 2018 & 2025 (USD Million)

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  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 product’s 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) Continue…

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