London, 20 February 2015 – The growing need to diminish identity duplication and forgery cases has resulted in remarkable growth in the Global Contactless Smart Card Market, which will post a CAGR of 30.31 percent through 2019, says research firm TechNavio.
About the Report
According to the latest report by TechNavio, the number of fraud and forgery cases has increased as technology progresses. Contactless smart cards can provide a one-stop solution to the issue, as these cards are accessed with the help of a PIN and are not easy to decode. Because the information is stored on a parent system, this PIN becomes exceptionally difficult to interpret.
“Several government organizations are making contactless smart card technology mandatory for passports and driver’s licenses, as it reduces the risk of data theft or identity duplication,” says Faisal Ghaus, Vice President of TechNavio.
Furthermore, the latest report from TechNavio emphasizes the increased adoption of smart cards in developing countries, which is expected to support market growth. Government agencies in countries like India are increasingly adopting these cards for use as driver’s licenses, e-passports, identity cards and voter ID.
“Many developing countries are also launching twin smart cards, which are a combination of contactless and contact interfaces and are very easy to handle.”
Key Information Covered in the Report:
Market segmentation, size and forecast through 2019
Market Growth Drivers:
- Need to Reduce Identity Duplication
- For a full detailed list, view our report.
Market Challenges:
- Complexity of Technology
- For a full detailed list, view our report.
Market Trends:
- Increased Adoption of Smart Cards in Developing Countries
- For a full detailed list, view our report.
Key Vendors:
- ASK SA
- Gemalto NV
- Morpho SA
Other Prominent Vendors:
- CardLogix
- DataCard
- Infineon Technologies
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
