TechNavio recognizes the following companies as the key players in the Global Smart Cards Market in the Government Sector: Gemalto NV, Giesecke & Devrient GmbH, Morpho SA, and Oberthur Technologies.
Commenting on the report, an analyst from TechNavio’s team said: “Contactless cards are more user-friendly than contact-based cards. Governments across the globe are increasingly deploying contactless e-ID cards to improve security in their respective countries. Countries such as France, Russia, Brazil, Indonesia, Poland, and Malaysia are expected to experience high adoption of contactless smart cards in the future. South Africa and Canada are also expected to experience an intensive adoption of smart ID cards. Instances like these are expected to contribute to the growth of the Global Smart Card market in the Government sector.”
According to the report, one of the major drivers is the increasing need for a tamper-free payment system. Generally, cards embedded with magnetic tapes only store information about end-users’ accounts. These cards can be easily tampered with, resulting in monetary loss or loss of data. However, smart cards store information that can only be accessed with a pin code, which is difficult to decode, thereby protecting end-users’ financial data.
Further, the report states that one of the key challenges in the market is the high initial deployment and replacement costs. Regions such as South America and the APAC region have limited vendor penetration and very few local players. As a result of this, the market is controlled by a small group of vendors, leading to low competition. This low competition is thus leading to high initial deployment and replacement costs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-smart-cards-market-government-sec…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Smart Cards Market in the Government Sector 2012-2016
