Home > Media & Technology > Next Generation Technologies > Fintech > Smart Card Market

Smart Card Market Share

Report ID: GMI4312
Published Date: Mar 2022
Report Format: PDF

Download Free Sample

Smart Card Market Share

The industry leaders are focusing on developing technologically advanced solutions to cater to the changing consumer demands. For instance, in July 2021, Infineon Technologies AG partnered with IDEX Biometrics ASA to announce a reference design for an innovative biometric smart card architecture. The design leverages the combination of the TrustedBio solution from IDEX Biometrics with Infineon’s SLC38BML800 security controller with GPIO-interfaces. This enables fingerprint verification with high accuracy, low latency, and power efficiency. Market participants are focusing on developing smart cards & readers that ensure fast identity authentication, access control, and payments.

Key players operating in the smart card market include

CardLogix Corporation
Cardcom Technology
Infineon Technologies AG
Verifone Inc.
CPI Card Group
NXP Semiconductors NV
Giesecke & Devrient (G&D) GmbH
IDEMIA, Identiv Inc.
Thales Group
Square, Inc.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of smart card valued at more than $40 billion in 2021 and is projected to register a strong 10% CAGR during the forecast timeframe of 2022-2028.

The U.S. market is poised to record more than 15% CAGR through 2028 as there is a rising demand for high-performing smart card readers at transportation terminals.

India smart card industry size is predicted to register a healthy CAGR of 18% through 2028 as the government uses these cards to help citizens living below the poverty line access advanced healthcare facilities.

Europe accounted for nearly 25% of the market share in 2021 as a large percentage of the regional population is extensively using biometric cards for greater convenience as well as identity authentication.

Reputed companies, including CardLogix Corporation, Infineon Technologies AG, Cardcom Technology, Verifone Inc., NXP Semiconductors NV, IDEMIA, and Square, Inc., among several others, are positively influencing the market outlook.