Albany, NY -- (SBWIRE) -- 09/07/2017 -- Smart cards are pocket-sized plastic cards embedded with integrated circuits (ICs) and are also known as microchips. These are primarily used for security purposes such as authentication and identification. Smart cards are also used for data storage and application processing.

Smart cards are broadly classified into contact-based and contactless cards. Contact-based smart cards have a contact area of approximately 1 square cm and are used by inserting them into a smart card reader. On the other hand, contactless smart cards function with the help of radio frequency, which eliminates the need for any physical insertion into the card reader.

Technavios analysts forecast the global smart cards market to grow at a CAGR of 8.84% during the period 2017-2021.

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Covered in this report
The report covers the present scenario and the growth prospects of the global smart cards market for 2017-2021. To calculate the market size, the report considers the revenues generated from the sale and shipment of contact-based and contactless smart cards.

The market is divided into the following segments based on geography:
APAC
Europe
MEA
North America
South America

Global Smart Cards Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Gemalto
Giesecke & Devrient
OT-Morpho
Watchdata

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Other prominent vendors
ARM
Rambus
CardLogix
DataCard
HID Global
Infineon Technologies
NXP Semiconductors
Smart Card IT Solutions

Market driver
Increasing number of cashless transactions
For a full, detailed list, view our report

Market challenge
Increase in competition among vendors
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Market trend
Availability of hybrid smart cards
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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