Recently, powered smart cards have gained popularity in the market owing to the wide range of functions and advantages associated with powered smart cards.
New York, NY -- (SBWIRE) -- 08/31/2016 -- Smart cards are small-sized cards with embedded chips, which can receive, transmit, and process information as and when required by end users. The chip is powered by an external reader through induction. Smart cards are made of plastic such as polyvinyl chloride. Other materials that are used for manufacturing smart cards are polyethylene terephthalate-based polyesters, acrylonitrile butadiene styrene, or polycarbonate. Smart cards are used to perform functions such as identification, authentication, data storage, and application processing within a certain restricted area. Smart cards are also useful in providing security authentication within large organizations.
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Recently, powered smart cards have gained popularity in the market owing to the wide range of functions and advantages associated with powered smart cards. In powered-smart cards, the embedded chips are powered by onboard thin-film or printable batteries attached to smart cards.
Addition of battery power to the smart cards is added advantage of powered smart card which makes it easier to manufacture . Added onboard power on powered smart cards enables card manufacturing companies to integrate an information display medium into the smart card. Printable or thin-film batteries are majorly applied in powered smart cards. Powered smart cards with embedded printable batteries are expected to dominate the market in the forecast period. Display technologies used in powered smart cards include liquid crystal displays (LCDs), light emitting diode (LED) displays, and electrophoretic displays (EPDs) or electochromic display.
Based on authentication, the global powered smart card market can be bifurcated into one-time password (OTP) cards, gift and customer loyalty cards, identification cards, or medical information cards. In the recent years, powered smart cards have gained popularity in healthcare and commercial sectors. Other end users of powered smart cards include educational institutes, governments and private sectors, airports, and other restricted areas.
North America holds the largest market share for powered smart cards, followed by Europe and Asia Pacific. The U.S. is the largest market for powered smart cards owing to advancements in the end-use industries in this region. North America is expected to maintain its position in the forecast period. Europe is expected to witness marginal growth . However, Asia Pacific is expected to witness highest growth in the near future.
Technological advancements and added features of powered smart cards is driving growth of the global powered smart cards market. Also, with rising urban population, demand for improved security is expected to increase . Additionally, investment for improved infrastructure is further expected to increase demand for improved security equipment, creating ample growth opportunities for the global powered smart cards market. For infrastructural development, the U .K. government's public sector investment is expected to rise by USD 4.9 billion from 2012 – 13 to reach around USD 77.7 billion in 2013 – 14. It is further expected to increase to reach around USD 83.0 billion in 2014 – 15. In 2014, the government of Abu Dhabi approved an investment of USD 10.2 billion with the objective to enhance the infrastructure and economic growth of the nation.
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Increasing demand for improved security equipment among end-user industries is creating ample growth opportunities for smart card manufacturing companies to invest extensively in the innovative powered smart cards market. Some of the major companies operating in the global powered smart card market are CardLogix Corporation, Gemalto NV, Inteligensa, Morpho, Giesecke & Devrient GmbH, SmartDisplayer Technology, and Oberthur Technologies.
Key geographies evaluated in this report are:
France, Germany, Italy, Spain, and the UK
Key features of this report:
Drivers, restraints, and challenges shaping the Powered Smart Card market dynamics
Latest innovations and key events in the industry
Analysis of business strategies of the top players
Powered Smart Card market estimates and forecasts(2015 -2021)