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Frost Radar in the Global Smart Cards Market

Frost Radar in the Global Smart Cards Market

A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
19-Dec-2019
REGION
Global
Research Code: K423-01-00-00-00
SKU: ES01130-GL-MR_23765
$4,950.00
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ES01130-GL-MR_23765
$4,950.00
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Description

The global smart cards market (contact, contactless, hybrid, and dual-interface cards) is highly competitive. Manufacturers are adding features such as biometric security and looking to expand into the emerging sectors Internet of Things and eSIM spaces. The market is vast and mature, and the top 5 market participants are leaders across one or more of these product segments, though they face stiff competition from smaller and medium enterprises. Because the market is mature with leading participants offering similar products and solutions, innovation is a key competitive factor. Market leaders also focus on inorganic growth to expand their product portfolio and customer base.

Global market revenue in 2018 stood at $8.17 billion. Revenue is expected to increase at a compound annual growth rate (CAGR) of 3.0% between 2018 and 2025, reaching $10.03 billion. Asia-Pacific is the dominant region, accounting for 35.1% of global revenue and 47.8% of unit shipments. Revenue is expected to witness a 3.3% CAGR between 2018 and 2025.

The contact card is the most popular card type, with 2018 revenue of $5.07 billion. It will continue to contribute the largest revenue share during the forecast period. Dual-interface card revenue is likely to grow fastest, at a 5.2% CAGR between 2018 and 2025.

The banking and financial services vertical is the top revenue contributor, at 39.4%. The SIM card vertical is the leader in terms of units, at 49%.
The use of contactless smart cards globally for identification, ticketing, and payments is driving growth. Radio frequency identification (RFID) and near-field communication (NFC) contactless smart cards offer higher speed and convenience. Enhanced security makes them ideal for payments, ID, passports, and visas.

The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Author: Nandini Bhattacharya

Table of Contents

Industry Overview

Industry Overview (continued)

Industry Overview (continued)

The Frost Radar

Frost Radar—Description of Companies Plotted

Frost Radar—Description of Companies Plotted (continued)

IDEMIA

Gemalto

Giesecke+Devrient

VALID

Watchdata

Wuhan Tianyu (Tianyu)

Eastcompeace

ABCorp

CPI Card Group

CardLogix Corporation

KONA I

Versatile Card Technology (VCT)

The Last Word—Key Takeaways

Legal Disclaimer

Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform

Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform (continued)

Frost Radar—C2A

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The global smart cards market (contact, contactless, hybrid, and dual-interface cards) is highly competitive. Manufacturers are adding features such as biometric security and looking to expand into the emerging sectors Internet of Things and eSIM spaces. The market is vast and mature, and the top 5 market participants are leaders across one or more of these product segments, though they face stiff competition from smaller and medium enterprises. Because the market is mature with leading participants offering similar products and solutions, innovation is a key competitive factor. Market leaders also focus on inorganic growth to expand their product portfolio and customer base. Global market revenue in 2018 stood at $8.17 billion. Revenue is expected to increase at a compound annual growth rate (CAGR) of 3.0% between 2018 and 2025, reaching $10.03 billion. Asia-Pacific is the dominant region, accounting for 35.1% of global revenue and 47.8% of unit shipments. Revenue is expected to witness a 3.3% CAGR between 2018 and 2025. The contact card is the most popular card type, with 2018 revenue of $5.07 billion. It will continue to contribute the largest revenue share during the forecast period. Dual-interface card revenue is likely to grow fastest, at a 5.2% CAGR between 2018 and 2025. The banking and financial services vertical is the top revenue contributor, at 39.4%. The SIM card vertical is the leader in terms of units, at 49%. The use of contactless smart cards globally for identification, ticketing, and payments is driving growth. Radio frequency identification (RFID) and near-field communication (NFC) contactless smart cards offer higher speed and convenience. Enhanced security makes them ideal for payments, ID, passports, and visas. The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients. Author: Nandini Bhattacharya
More Information
No Index No
Podcast No
Author Nandini Bhattacharya
Industries Electronics and Sensors
WIP Number K423-01-00-00-00
Is Prebook No
GPS Codes 99D5-A1,9201-A3,9592,99F3-A3