London, 13 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global Smart Card Market in the Telecom Sector 2015-2019, which is expected to grow at a CAGR of 4.98 percent during the period 2014-2019.
There is profound demand for smart cards in the Telecom sector across the world. The largest contributor in the market, in terms of both revenue and shipment, is the APAC region, followed by Europe. Swift technological improvements, such as twin smart cards and near-field communication cards, are supporting the growth of the market in this sector.
“The need to carry multiple cards is eliminated with the use of twin cards because these cards share storage and processing of information,” says Faisal Ghaus, Vice President of TechNavio.
“Data and information consolidated in a single smart card also enables ease of handling. The availability of twin cards is expected to support the growth of the Global Contactless Smart Card market.”
Key Market Drivers
- Increased Need to Reduce Identity Duplication
- Increased Use of Personal Devices for Financial Transactions
- Need for User-friendly Interface
- Increased Use of Electronic Purses
Key Market Trends
- Increased Adoption of NFC Payments
- High Adoption of M-commerce
- Availability of Twin Smart Cards
- Advances in Technology
Key Market Vendors
- Gemalto NV
- Giesecke & Devrient GmbH
- Morpho SA
- Oberthur Technologies
- Watchdata System Co. Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Smart Card Market in the Telecom Sector 2015-2019; please send an e-mail to media@TechNavio.com.
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