Dublin, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The "Powered Smart Cards - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Powered Smart Cards was estimated at US$4.5 Billion in 2023 and is projected to reach US$8.3 Billion by 2030, growing at a CAGR of 8.9% from 2023 to 2030.
Technological advancements have significantly enhanced the capabilities and applications of powered smart cards. Innovations in semiconductor technology have led to the development of more powerful and energy-efficient integrated circuits, enabling advanced data processing and secure communication. The integration of biometric sensors, such as fingerprint and facial recognition, has enhanced the security and user authentication capabilities of smart cards. Advances in battery technology have improved the longevity and reliability of powered smart cards, ensuring consistent performance over extended periods.
Additionally, the development of secure communication protocols, such as near-field communication (NFC) and Bluetooth Low Energy (BLE), has expanded the connectivity options and interoperability of smart cards, facilitating seamless integration with various devices and systems. These technological improvements have broadened the applications and benefits of powered smart cards, making them a vital tool for secure identification and transaction processing.
What Factors Are Driving the Growth in the Powered Smart Card Market?
The growth in the powered smart card market is driven by several factors. The increasing demand for secure identification and authentication solutions in various sectors, such as finance, government, and healthcare, is a significant driver, boosting the adoption of powered smart cards. Technological advancements that enhance the processing power, security, and connectivity of smart cards are also propelling market growth. The rising incidence of identity theft and data breaches is driving the need for advanced security solutions, further increasing the demand for powered smart cards.
Additionally, the expansion of digital payment systems and the growing popularity of contactless transactions are contributing to market growth. The increasing focus on regulatory compliance and the implementation of national identification programs are further boosting the demand for secure and reliable smart card solutions. These factors, coupled with the increasing availability of innovative and high-quality powered smart cards, are driving the sustained growth of the powered smart card market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Contactless Smart Card segment, which is expected to reach US$5.2 Billion by 2030 with a CAGR of a 9.8%. The Dual Interface Smart Card segment is also set to grow at 8.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $1.2 Billion in 2023, and China, forecasted to grow at an impressive 8.3% CAGR to reach $1.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Powered Smart Cards Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Datang Telecom Technology Co., Ltd., Eastcompeace Technology Co., Ltd., Gemalto NV, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 194 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $4.5 Billion |
| Forecasted Market Value (USD) by 2030 | $8.3 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Powered Smart Cards - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
FOCUS ON SELECT PLAYERS
- Datang Telecom Technology Co., Ltd.
- Eastcompeace Technology Co., Ltd.
- Gemalto NV
- Giesecke & Devrient GmbH
- Infineon Technologies AG
- NXP Semiconductors
- Oberthur Technologies
- OT-Morpho
- Samsung Electronics Co., Ltd.
- Shanghai HuaHong Integrated Circuit Co., Ltd.
- Texas Instruments, Inc.
- Watchdata Technologies Pte., Ltd.
- Wuhan Tianyu Information Industry Co., Ltd.
MARKET TRENDS & DRIVERS
- Increasing Demand for Secure and Contactless Payment Solutions Propels Market Growth
- Technological Innovations in Smart Card Design and Functionality Strengthen Business Case
- Rising Adoption of Digital Identification and Authentication Drives Market Expansion
- Surge in Financial Transactions and E-Commerce Expands Addressable Market Opportunity
- Development of Biometric and Multi-Factor Authentication Smart Cards Generates New Opportunities
- Growing Use in Government and Healthcare Sectors Spurs Market Growth
- Advancements in Chip Technology and Embedded Systems Propel Market Demand
- Rising Awareness of Cybersecurity and Data Protection Sustains Growth
- Expansion of Applications in Transportation and Access Control Throws Spotlight on Market Potential
- Growing Focus on Interoperability and Integration with IoT Spurs Market Expansion
- Growth in Mobile Payment and Digital Wallet Solutions Expands Market Horizons
For more information about this report visit https://www.researchandmarkets.com/r/bantid
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