Smart cards are IC-based cards that accumulate and retrieve information using various computer systems. Smart cards primarily act as cost-effective devices to store, manage, and maintain credentials for end users. Microcontroller-based powered smart cards facilitate intelligent communication and have on-card dynamic data processing abilities.

The smart card includes a circuit that is majorly an embedded Integrated Circuit (IC) chip with internal memory. Smart cards connect to the user with direct physical contact or with a remote contactless radio frequency interface. Smart cards are cost-effective devices that store, manage, and maintain credentials of the end-users and the information about the associated accounts. In addition, smart cards are majorly used for credit cards, computer security systems, government systems, and banking.

Market Dynamics:

One of the key factors contributing to the market growth is the rising adoption of contactless payment systems. With the convenience and speed they offer, contactless smart cards are gaining popularity among consumers and businesses alike. Moreover, the ongoing transition from magnetic stripe cards to Europay, Mastercard, and Visa (EMV) chip-enabled cards, to reduce card fraud and enhance security, was further boosting the demand for powered smart cards. Additionally, the increasing focus on secure identification and authentication solutions in various industries is driving the use of powered smart cards for access control and identity verification. Governments worldwide are deploying these cards in national ID programs and electronic passports to safeguard citizens' data and prevent identity theft.

The market is also witnessing a surge in the demand for Internet of Things (IoT) applications, where powered smart cards play a vital role in ensuring secure communication between devices and systems. This trend is expected to fuel the adoption of smart cards in the growing IoT ecosystem.

In addition, improved security for office, commercial, or residential buildings is also propelling the demand for the global powered smart card market. Smart cards are being increasingly adopted by organizations, government offices, and educational schools or colleges, to restrict physical access to their offices or specific departments within campus. Moreover, many organizations are implementing organization-level security policies using smart cards.

Key features of the study:

• This report provides an in-depth analysis of the global powered smart card market, and provides market size (US$ Bn) and Compound Annual Growth Rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global powered smart card market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
• The key companies covered as a part of this study include Watchdata Technologies Ltd., Texas Instruments Incorporated, Safran Identity and Security (Morpho SA), Samsung, Oberthur Technologies, Shanghai Huahong Integrated Circuit Co., Ltd., Wuhan Tianyu Information Industry Co., Ltd., Gemalto NV, NXP Semiconductors N.V., Giesecke & Devrient GmbH, Infineon Technologies AG, Eastcompeace Technology Co., Ltd., and Datang Telecom Technology Co., Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global powered smart card market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global powered smart card market

Detailed Segmentation:

• Global Powered Smart Card Market, By Type:
  • Contactless Cards
  • Hybrid Cards
  • Dual-interface Cards
• Global Powered Smart Card Market, By Application:
  • Government
  • Healthcare
  • Transportation
  • Telecommunication
  • Financial Services, Retail, and Loyalty
  • Pay TV
  • Energy and Utility (Smart Meters for Electricity, Water, and Gas)
• Global Powered Smart Card Market, By Region:
  • North America
    
    • U.S.
    • Canada
  • Europe
    
    • Germany
    • U.K.
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa
• Company Profiles:
  • Watchdata Technologies Ltd
  • Texas Instruments Incorporated
  • Safran Identity and Security (Morpho SA)
  • Samsung, Oberthur Technologies
  • Shanghai Huahong Integrated Circuit Co., Ltd.
  • Wuhan Tianyu Information Industry Co., Ltd.
  • Gemalto NV
  • NXP Semiconductors N.V.
  • Giesecke & Devrient GmbH
  • Infineon Technologies AG
  • Eastcompeace Technology Co., Ltd.
  • Datang Telecom Technology Co., Ltd