Global Contactless Smart Cards Market to Cross $2.35 Billion by 2015, According to New Report by Global Industry Analysts
GIA announces the release of a comprehensive global report on Contactless Smart Cards market. Having gained strong foothold in access control and transport applications, contactless smart card technology is slowly making headway into other application areas. The adoption of common communication protocol for contactless smart cards by Visa and MasterCard is encouraging the market to prosper further in the payments segment. UK, Europe and Turkey are also showing an inclination towards adopting contactless smart cards in this segment.
San Jose, California (PRWEB) June 24, 2009 -- Global Contactless Smart Cards Market is projected to cross $2.35 billion in revenue by 2015. Contactless smart cards achieved immense popularity in the payments market in the year 2006, especially in the US and few regions across Asia-Pacific. Asia-Pacific represents the largest market for contactless smart cards. EMEA represents the market with the fastest growth potential for contactless smart cards over the period 2006-2015. The region is also expected to offer the highest growth opportunity in revenue terms.
Growing security concerns and the subsequent need for secure IT environment, consumer acceptance, micro-payment and Government applications are the major driving factors for contactless smart cards. Rapid advances in the US payments market and success of other contactless smart card implementations across the globe, such as ID and transit programs are elevating interest and confidence levels in contactless smart card technology.
Government ID Market represents the largest end-use segment for contactless smart cards in terms of revenues. Government ID programs include programs such as e-passport, national ID, IDs for Government officials and contractors, and transportation worker identification cards among others. The spill over effect of various Government programs proved to be the major driving factor for the growth in overall contactless smart cards market.
Mass Transit Market for Contactless Smart Cards is the second largest segment in the overall contactless smart cards end-use market, both by shipment and revenue. Europe and parts of Asia have a head start over North America in mass transit applications of contactless smart cards. A major use of smart cards in transportation sector involves its usage in the form of electronic tickets for mass transportation systems. With growing traffic on various public transport media, the implementation of smart card technology in this sector is on the rise. Increased willingness among card issuers (transit agencies) to concede ground to banks, and emerge as card accepting merchants, similar to any retailer accepting a credit or debit card is extending market opportunities for contactless smart cards in this sector.
Convenience in making payment, high acceptance among consumers as well as issuers, high interoperability, and Cardholder Verification Method (CVM) Limits are the major factors driving the contactless smart cards technology in the payments sector. Increasing violence, as well as the growing incidence of data thefts is leading to smart cards emerging as the leading technology for access control in both public and private domains.
These and other market data and trends are presented in "Contactless Smart Cards: A Global Strategic Business Report" announced by Global Industry Analysts, Inc. This new market research report discusses the prevailing trends, issues, demand forecasts, and activities that affect the industry. The global and regional contactless smart cards markets are analyzed by annual shipments and revenues in million units and US$ million respectively. The global market is analyzed further by the following end-use segments - Mass Transit, Access Control, Payment, and Government ID. Analytics for the period 2006-2015 provide a comprehensive understanding of the market.
Dominant global players profiled in the report include ActivIdentity Corporation, Advanced Card Systems Ltd, ASK, CardLogix Corporation, CPI Card Group, Fujitsu Microelectronics Limited, Gemalto NV, Giesecke & Devrient GmbH, HID Global Corporation, Infineon Technologies AG, Inside Contactless, IRIS Corporation Berhad, NedCard B.V., NOVACARD INFORMATIONSSYSTEME GMBH, NXP Semiconductors, Oberthur Card Systems, On Track Innovations Ltd, Sagem Orga, Samsung Electronics Co., Ltd, Sony Corporation, STMicroelectronics, Toppan Printing Co., Ltd. and Watchdata System Co. Ltd. among others. The study enumerates recent developments, mergers, acquisitions, and other strategic industry activities, and is an easy guide to What, Why, When, How, Where, and Who of the industry.
For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Contactless_Smart_Cards_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press@StrategyR.com
Web Site http://www.StrategyR.com/
###
Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/U3F1YS1Db3VwLUhvcnItUHJvZi1IYWxmLUNvdXAtWmVybw==
Bookmark -
Del.icio.us |
Furl It |
Technorati |
Ask |
MyWeb |
Propeller |
Live Bookmarks |
Newsvine |
TailRank |
Reddit |
Slashdot |
Digg |
Stumbleupon |
Google Bookmarks |
Sphere |
Blink It |
Spurl
|
