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Contactless Smart Cards Market By Type, By Functionality, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 419 Pages
  • September 2023
  • Region: Global
  • Allied Market Research
  • ID: 5916119
Contactless smart cards store and transfer data wirelessly without the need for physical touch. These cards, which contain a small chip and an antenna, are extensively used for access control, payment systems, transit, and other applications. They are intended to interact with compatible devices by simply holding or waving them close to a scanner, allowing convenient and secure transactions or access without the card being inserted or swiped. Furthermore, contactless smart cards have advantages in terms of speed, better security, and durability, however, obstacles such as infrastructure setup and security must be controlled. As digital transactions and accessibility have gained significance, the market has developed, and it is characterized by continuous innovation and efforts to balance convenience with strict security

The contactless smart cards market is influenced by several important factors. The surge in digital payment ecosystem greatly helps the expansion of the contactless smart card business. This expansion is attributed to many fundamental factors that have changed the way individuals and organizations conduct financial transactions. Furthermore, the surge in use of smartphones, combined with the availability of strong mobile banking apps and digital wallets, has opened the road for contactless payments to become a mainstream preference. These applications enable users to link their bank accounts or credit cards, making it simple to conduct safe payments using NFC (Near Field Communication) technology, which is at the heart of contactless smart cards. Moreover, the rise of IoT and connected devices drive the contactless smart cards market growth. However, limited compatibility and infrastructure constraints restrain the expansion of the contactless smart cards market. The requirement for a well-established infrastructure to allow contactless payments is one of the key hurdles. While large urban locations and developed regions frequently have the necessary infrastructure, many communities still lack the essential technology and connectivity, impeding widespread use of contactless smart cards. In addition, high infrastructure cost, along with security and data theft concerns hamper the growth of contactless smart cards market. On the contrary, integration with IoT and mobile devices provides significant potential for the contactless smart cards market by enabling smooth, safe, and convenient transactions in a variety of linked environments, including smart homes, transportation, and healthcare. This convergence improves the user experience and increases the market's reach.

The contactless smart cards market is segmented on the basis of type, functionality, industry vertical, and region. On the basis of type, the market is classified into memory, and MPU microprocessor. By functionality, the market is categorized into transaction and security access control. By industry vertical, it is divided into BFSI, retail, healthcare, hospitality, transport and logistics, media and entertainment, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the contactless smart cards market such as CardLogix Corporation, CPI Card Group Inc., Giesecke+Devrient GmbH, HID Global Corporation, IDEMIA, Infineon Technologies AG, NXP Semiconductors, Sony Corporation, Thales, and Watchdata. These players have adopted various strategies to increase their market penetration and strengthen their position in the contactless smart cards market.

Key Benefits For Stakeholders

  • The study provides in-depth analysis of the global contactless smart cards market along with the current & future trends to illustrate the imminent investment pockets.
  • Information about key drivers, restrains, & opportunities and their impact analysis on the global contactless smart cards market size are provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of the global contactless smart cards market from 2022 to 2032 is provided to determine the market potential.

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  • Market share analysis of players at global/region/country level
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Key Market Segments

By Functionality

  • Transaction
  • Security and Access control

By Type

  • Memory
  • MPU Microprocessor

By Industry Vertical

  • BFSI
  • Retail
  • Healthcare
  • Hospitality
  • Transportation and Logistics
  • Media and Entertainment
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
  • Key Market Players
  • Giesecke+Devrient GmbH.
  • IDEMIA
  • Infineon Technologies AG
  • Sony Corporation
  • Thales
  • CPI Card Group Inc.
  • HID Global Corporation
  • NXP Semiconductors.
  • Watchdata Co., Ltd.
  • CARDLOGIX CORPORATION

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.3. Porter’s five forces analysis
3.4. Market dynamics
CHAPTER 4: CONTACTLESS SMART CARDS MARKET, BY TYPE
4.1. Overview
4.2. Memory
4.3. MPU Microprocessor
CHAPTER 5: CONTACTLESS SMART CARDS MARKET, BY FUNCTIONALITY
5.1. Overview
5.2. Transaction
5.3. Security and Access control
CHAPTER 6: CONTACTLESS SMART CARDS MARKET, BY INDUSTRY VERTICAL
6.1. Overview
6.2. BFSI
6.3. Retail
6.4. Healthcare
6.5. Hospitality
6.6. Transportation and Logistics
6.7. Media and Entertainment
6.8. Others
CHAPTER 7: CONTACTLESS SMART CARDS MARKET, BY REGION
7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia-Pacific
7.5. LAMEA
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
9.1. CARDLOGIX CORPORATION
9.2. CPI Card Group Inc.
9.3. Giesecke+Devrient GmbH.
9.4. HID Global Corporation
9.5. IDEMIA
9.6. Infineon Technologies AG
9.7. NXP Semiconductors.
9.8. Sony Corporation
9.9. Thales
9.10. Watchdata Co., Ltd.
List of Tables
Table 01. Global Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 02. Contactless Smart Cards Market for Memory, by Region, 2022-2032 ($ Million)
Table 03. Contactless Smart Cards Market for Mpu Microprocessor, by Region, 2022-2032 ($ Million)
Table 04. Global Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 05. Contactless Smart Cards Market for Transaction, by Region, 2022-2032 ($ Million)
Table 06. Contactless Smart Cards Market for Security and Access Control, by Region, 2022-2032 ($ Million)
Table 07. Global Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 08. Contactless Smart Cards Market for Bfsi, by Region, 2022-2032 ($ Million)
Table 09. Contactless Smart Cards Market for Retail, by Region, 2022-2032 ($ Million)
Table 10. Contactless Smart Cards Market for Healthcare, by Region, 2022-2032 ($ Million)
Table 11. Contactless Smart Cards Market for Hospitality, by Region, 2022-2032 ($ Million)
Table 12. Contactless Smart Cards Market for Transportation and Logistics, by Region, 2022-2032 ($ Million)
Table 13. Contactless Smart Cards Market for Media and Entertainment, by Region, 2022-2032 ($ Million)
Table 14. Contactless Smart Cards Market for Others, by Region, 2022-2032 ($ Million)
Table 15. Contactless Smart Cards Market, by Region, 2022-2032 ($ Million)
Table 16. North America Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 17. North America Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 18. North America Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 19. North America Contactless Smart Cards Market, by Country, 2022-2032 ($ Million)
Table 20. U.S. Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 21. U.S. Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 22. U.S. Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 23. Canada Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 24. Canada Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 25. Canada Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 26. Europe Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 27. Europe Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 28. Europe Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 29. Europe Contactless Smart Cards Market, by Country, 2022-2032 ($ Million)
Table 30. UK Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 31. UK Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 32. UK Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 33. Germany Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 34. Germany Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 35. Germany Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 36. France Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 37. France Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 38. France Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 39. Italy Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 40. Italy Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 41. Italy Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 42. Spain Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 43. Spain Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 44. Spain Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 45. Rest of Europe Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 46. Rest of Europe Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 47. Rest of Europe Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 48. Asia-Pacific Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 49. Asia-Pacific Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 50. Asia-Pacific Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 51. Asia-Pacific Contactless Smart Cards Market, by Country, 2022-2032 ($ Million)
Table 52. China Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 53. China Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 54. China Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 55. Japan Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 56. Japan Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 57. Japan Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 58. India Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 59. India Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 60. India Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 61. Australia Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 62. Australia Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 63. Australia Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 64. South Korea Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 65. South Korea Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 66. South Korea Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 67. Rest of Asia-Pacific Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 68. Rest of Asia-Pacific Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 69. Rest of Asia-Pacific Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 70. LAMEA Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 71. LAMEA Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 72. LAMEA Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 73. LAMEA Contactless Smart Cards Market, by Country, 2022-2032 ($ Million)
Table 74. Latin America Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 75. Latin America Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 76. Latin America Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 77. Middle East Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 78. Middle East Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 79. Middle East Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 80. Africa Contactless Smart Cards Market, by Type, 2022-2032 ($ Million)
Table 81. Africa Contactless Smart Cards Market, by Functionality, 2022-2032 ($ Million)
Table 82. Africa Contactless Smart Cards Market, by Industry Vertical, 2022-2032 ($ Million)
Table 83. Cardlogix Corporation: Key Executives
Table 84. Cardlogix Corporation: Company Snapshot
Table 85. Cardlogix Corporation: Service Segments
Table 86. Cardlogix Corporation: Product Portfolio
Table 87. Cpi Card Group Inc.: Key Executives
Table 88. Cpi Card Group Inc.: Company Snapshot
Table 89. Cpi Card Group Inc.: Service Segments
Table 90. Cpi Card Group Inc.: Product Portfolio
Table 91. Giesecke+Devrient Gmbh.: Key Executives
Table 92. Giesecke+Devrient Gmbh.: Company Snapshot
Table 93. Giesecke+Devrient Gmbh.: Service Segments
Table 94. Giesecke+Devrient Gmbh.: Product Portfolio
Table 95. Hid Global Corporation: Key Executives
Table 96. Hid Global Corporation: Company Snapshot
Table 97. Hid Global Corporation: Service Segments
Table 98. Hid Global Corporation: Product Portfolio
Table 99. Idemia: Key Executives
Table 100. Idemia: Company Snapshot
Table 101. Idemia: Service Segments
Table 102. Idemia: Product Portfolio
Table 103. Idemia: Key Stratergies
Table 104. Infineon Technologies Ag: Key Executives
Table 105. Infineon Technologies Ag: Company Snapshot
Table 106. Infineon Technologies Ag: Service Segments
Table 107. Infineon Technologies Ag: Product Portfolio
Table 108. Infineon Technologies Ag: Key Stratergies
Table 109. Nxp Semiconductors.: Key Executives
Table 110. Nxp Semiconductors.: Company Snapshot
Table 111. Nxp Semiconductors.: Service Segments
Table 112. Nxp Semiconductors.: Product Portfolio
Table 113. Nxp Semiconductors.: Key Stratergies
Table 114. Sony Corporation: Key Executives
Table 115. Sony Corporation: Company Snapshot
Table 116. Sony Corporation: Service Segments
Table 117. Sony Corporation: Product Portfolio
Table 118. Thales: Key Executives
Table 119. Thales: Company Snapshot
Table 120. Thales: Service Segments
Table 121. Thales: Product Portfolio
Table 122. Thales: Key Stratergies
Table 123. Watchdata Co. Ltd.: Key Executives
Table 124. Watchdata Co. Ltd.: Company Snapshot
Table 125. Watchdata Co. Ltd.: Service Segments
Table 126. Watchdata Co. Ltd.: Product Portfolio
Table 127. Watchdata Co. Ltd.: Key Stratergies
List of Figures
Figure 01. Contactless Smart Cards Market, 2022-2032
Figure 02. Segmentation of Contactless Smart Cards Market, 2022-2032
Figure 04. Top Investment Pockets in Contactless Smart Cards Market (2023-2032)
Figure 05. Low Bargaining Power of Suppliers
Figure 06. Low Threat of New Entrants
Figure 07. Low Threat of Substitutes
Figure 08. Low Intensity of Rivalry
Figure 09. Low Bargaining Power of Buyers
Figure 10. Global Contactless Smart Cards Market: Drivers, Restraints and Opportunities
Figure 11. Contactless Smart Cards Market, by Type, 2022 and 2032 (%)
Figure 12. Comparative Share Analysis of Contactless Smart Cards Market for Memory, by Country 2022 and 2032 (%)
Figure 13. Comparative Share Analysis of Contactless Smart Cards Market for Mpu Microprocessor, by Country 2022 and 2032 (%)
Figure 14. Contactless Smart Cards Market, by Functionality, 2022 and 2032 (%)
Figure 15. Comparative Share Analysis of Contactless Smart Cards Market for Transaction, by Country 2022 and 2032 (%)
Figure 16. Comparative Share Analysis of Contactless Smart Cards Market for Security and Access Control, by Country 2022 and 2032 (%)
Figure 17. Contactless Smart Cards Market, by Industry Vertical, 2022 and 2032 (%)
Figure 18. Comparative Share Analysis of Contactless Smart Cards Market for Bfsi, by Country 2022 and 2032 (%)
Figure 19. Comparative Share Analysis of Contactless Smart Cards Market for Retail, by Country 2022 and 2032 (%)
Figure 20. Comparative Share Analysis of Contactless Smart Cards Market for Healthcare, by Country 2022 and 2032 (%)
Figure 21. Comparative Share Analysis of Contactless Smart Cards Market for Hospitality, by Country 2022 and 2032 (%)
Figure 22. Comparative Share Analysis of Contactless Smart Cards Market for Transportation and Logistics, by Country 2022 and 2032 (%)
Figure 23. Comparative Share Analysis of Contactless Smart Cards Market for Media and Entertainment, by Country 2022 and 2032 (%)
Figure 24. Comparative Share Analysis of Contactless Smart Cards Market for Others, by Country 2022 and 2032 (%)
Figure 25. Contactless Smart Cards Market by Region, 2022 and 2032 (%)
Figure 26. U.S. Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 27. Canada Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 28. UK Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 29. Germany Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 30. France Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 31. Italy Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 32. Spain Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 33. Rest of Europe Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 34. China Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 35. Japan Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 36. India Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 37. Australia Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 38. South Korea Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 39. Rest of Asia-Pacific Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 40. Latin America Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 41. Middle East Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 42. Africa Contactless Smart Cards Market, 2022-2032 ($ Million)
Figure 43. Top Winning Strategies, by Year (2020-2022)
Figure 44. Top Winning Strategies, by Development (2020-2022)
Figure 45. Top Winning Strategies, by Company (2020-2022)
Figure 46. Product Mapping of Top 10 Players
Figure 47. Competitive Dashboard
Figure 48. Competitive Heatmap: Contactless Smart Cards Market
Figure 49. Top Player Positioning, 2022
Figure 50. Cpi Card Group Inc.: Net Revenue, 2020-2022 ($ Million)
Figure 51. Cpi Card Group Inc.: Revenue Share by Segment, 2022 (%)
Figure 52. Hid Global Corporation: Net Revenue, 2020-2022 ($ Million)
Figure 53. Hid Global Corporation: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 54. Hid Global Corporation: Revenue Share by Segment, 2022 (%)
Figure 55. Hid Global Corporation: Revenue Share by Region, 2022 (%)
Figure 56. Infineon Technologies Ag: Net Revenue, 2020-2022 ($ Million)
Figure 57. Infineon Technologies Ag: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 58. Infineon Technologies Ag: Revenue Share by Segment, 2022 (%)
Figure 59. Infineon Technologies Ag: Revenue Share by Region, 2022 (%)
Figure 60. Nxp Semiconductors.: Net Revenue, 2020-2022 ($ Million)
Figure 61. Nxp Semiconductors.: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 62. Nxp Semiconductors.: Revenue Share by Segment, 2022 (%)
Figure 63. Nxp Semiconductors.: Revenue Share by Region, 2022 (%)
Figure 64. Sony Corporation: Net Revenue, 2020-2022 ($ Million)
Figure 65. Sony Corporation: Revenue Share by Segment, 2022 (%)
Figure 66. Sony Corporation: Revenue Share by Region, 2022 (%)
Figure 67. Thales: Net Revenue, 2020-2022 ($ Million)
Figure 68. Thales: Revenue Share by Segment, 2022 (%)
Figure 69. Thales: Revenue Share by Segment, 2022 (%)

Executive Summary

According to the report, the contactless smart cards market was valued at $9.4 billion in 2022, and is estimated to reach $21 billion by 2032, growing at a CAGR of 8.7% from 2023 to 2032.

The Contactless Smart Card market is likely to experience a significant growth rate of 8.7% from 2022-2032 owing to increasing market demand from media and entertainment sectors

The contactless smart card market is experiencing significant growth driven by several key trends such as the increasing demand for secure and convenient payment methods is propelling the adoption of contactless smart cards. These cards allow users to make swift and secure transactions by simply tapping or waving the card near a compatible reader, reducing the need for physical cash and traditional card swiping. Furthermore, the COVID-19 pandemic has accelerated the trend toward contactless payments as people seek touchless alternatives to minimize the risk of virus transmission. This has not only boosted the use of contactless payment cards but also expanded their applications to access control, public transportation, and more. Moreover, the integration of contactless technology into smartphones and wearable devices has expanded the market's scope. Many consumers now have the option to store their contactless cards digitally and use them through their devices, adding to the convenience and versatility of these cards.

The rise of the Internet of Things (IoT) has accelerated the expansion of the contactless smart card market. As IoT technology continues to spread across numerous industries, the necessity for seamless and secure device connectivity has become critical. With their capacity to wirelessly communicate data and authenticate users, contactless smart cards have emerged as a trustworthy alternative for facilitating safe interactions within IoT ecosystems. Furthermore, by utilizing near-field communication (NFC) and RFID technology, contactless smart cards enable seamless communication between connected devices such as smartphones, wearables, and smart appliances. Thus, raises the demand for contactless smart cards in industries such as transportation, healthcare, retail, and access control, where the ease of frictionless transactions and data transmission matches with changing customer desires. Moreover, the ease of use and convenience for consumers of contactless smart cards are fueling their growth in the market as they offer effortless and efficient transactions and interactions for consumers. However, high infrastructure costs, along with security and data theft concerns, are hindering the expansion of the contactless smart card market. Contactless technology implementation necessitates considerable investments in upgrading or installing new infrastructure, such as card readers and payment terminals, across multiple industries. This financial barrier can hinder adoption of contactless smart card, particularly for enterprises with limited resources. Moreover, limited compatibility and infrastructure are hampering the growth of the contactless smart card market, by limiting the card's usability and acceptance as users struggle to find appropriate terminals and systems in order to fully utilize the card's features.

On the contrary, the integration of contactless smart cards with IoT (Internet of Things) and mobile devices represents an ideal chance for the contactless smart card market. As the world accepts digital technology, such connections are becoming easier, safer, and efficient in a variety of situations. Because of the Internet of Things, contactless smart cards can easily communicate with a wide range of connected gadgets, allowing for innovative uses such as smart home access, automatic attendance tracking in workplaces, and easier inventory control in retail and logistics. By providing real-time data transmission and remote control, this connection simplifies operations and improves user experiences.

The COVID-19 pandemic accelerated the adoption of contactless smart cards significantly. Concerns over physical contact heightened the demand for touchless payment solutions, making contactless smart cards a preferred choice for transactions. Merchants and consumers alike sought safer and more hygienic payment methods, leading to a surge in the use of contactless technology. This trend is expected to continue, with a lasting shift towards contactless payment methods even as the pandemic subsides.

The contactless smart card market is segmented on the basis of type, functionality, industry vertical, and region. On the basis of type, the market is bifurcated into memory, and MPU Microprocessor. Based on functionality, the market is segmented into transaction, communication, and security access control. By industry vertical, it is bifurcated into BFSI, Retail and E-commerce, healthcare, travel and hospitality, transport and logistics, media & entertainment, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the contactless smart card market such as CardLogix Corporation, CPI Card Group Inc., Giesecke+Devrient GmbH, HID Global Corporation, IDEMIA, Infineon Technologies AG, NXP Semiconductors, Sony Corporation, Thales, and Watchdata. These players have adopted various strategies to increase their market penetration and strengthen their position in the contactless smart card market.

Key Market Insights

By type, the MPU microprocessor segment led the contactless smart card market in terms of revenue in 2022.

By functionality, transaction segment accounted for the highest contactless smart card market share in 2022.

By industry verticals, BFSI segment accounted for the highest contactless smart card market share in 2022.

By region, Asia-Pacific generated the highest revenue in 2022.

Companies Mentioned

  • Giesecke+Devrient GmbH.
  • IDEMIA
  • Infineon Technologies AG
  • Sony Corporation
  • Thales
  • CPI Card Group Inc.
  • HID Global Corporation
  • NXP Semiconductors.
  • Watchdata Co., Ltd.
  • CARDLOGIX CORPORATION

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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