The latest report on Contactless Smart Card Market by Infinium Global Research gives complete
coverage of the Contactless Smart Card Market by applications (ID, transit, payment, access
control), region (North America, Europe, Asia-Pacific) in terms of key trends, market size, forecast
and CAGR growth over the period of 2017 to 2023. In addition, the study covers deep dive into
key product and applications trends in the regional markets of Contactless Smart Card such as
North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Market Insights
The global contactless smart card market was sized over USD 20.60 billion in 2015. The global
contactless smart card market is projected to grow with a CAGR of 35.3% during 2017-2023. User-
friendly interface, increased use of electronic purses, need to reduce identity duplication, and
demand for tamper-resistant systems remains the key factor driving the growth of global
contactless smart card market. Moreover, lack of awareness, high implementation costs,
complexity of technology and growing price-based competition are the key factors restraining the
growth of this market. Growing adoption of smart cards, increased popularity of e-commerce is
likely to bring more opportunities to this market.
Segments Covered:
The report segments the contactless smart card market by applications. Market segmentation
based on application includes government ID, transit, payment and access control. Among the
segment, the government ID sector will have largest market share during the forecast period.