|By Business Wire||
|July 1, 2014 11:27 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/vtgs7z/global) has announced the addition of the "Global Contactless Smart Cards market 2014-2018 with ASK SA, Gemalto, Giesecke & Devrient, Morpho & Oberthur Technologies Dominating" report to their offering.
The Global Contactless Smart Card market will grow at a CAGR of 33.5% to 2018
The growth of the Global Contactless Smart Cards market is driven by several factors, of which the growing need for a tamper-free system is one of the major drivers. Generally, cards embedded with magnetic tapes only store information about end-users' accounts. These cards can be easily tampered with, resulting in loss of information or data. However, contactless smart cards store information that can only be accessed with a pin code, which is difficult to decode, thereby protecting end-users' data.
An NFC-enabled device can operate in reader/writer, peer-to-peer or card emulation modes. While making mobile contactless payments, NFC-enabled mobile devices operate in a card emulation mode that appears as a traditional contactless smart card to an external reader. A smart card chip in mobile devices helps store payment information, protects them, and enables secure transactions. Contactless payments and ticketing using NFC-enabled devices allow secure monetary transactions. The increase in the adoption of NFC-based payments is thus supporting the growth of the Global Contactless Smart Cards market.
Further, the report states that high initial deployment and replacement cost is one of the major challenges faced by the vendors in the market. Regions such as South America and the APAC region have limited vendor penetration and few local players. As a result, the market is controlled by a small group of vendors, leading to low competition. This low competition is resulting in high initial deployment and replacement costs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
- ASK SA
- Gemalto NV
- Giesecke & Devrient GmbH
- Morpho SA
- Oberthur Technologies
Other Prominent Vendors
- BioEnable Technologies Pvt. Ltd.
- CardLogix Corp.
- DataCard Corp.
- Infineon Technologies AG
- NXP Semiconductors NV
- Sony Corp.
- Watchdata System Co. Ltd.
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Description
- Market Landscape
- Market Segmentation by Application
- Geographical Segmentation
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/vtgs7z/global
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