Lewes, DE -- (SBWire) -- 02/27/2015 --A smart card is a pocket-sized card, generally made of plastic, and is embedded with integrated circuits, also known as microchips. Smart cards are used for security purposes for authentication, identification, data storage, and application processing. They are widely used in sectors such as BFSI, Government, Transportation, Healthcare, and Defense. These cards are broadly classified into two types: contact-based and contactless. Contact-based smart cards have a contact area of approximately 1 square cm. These cards are used by inserting into a smart card reader. On the other hand, contactless smart cards are used by employing radio frequency between cards and a reader, which needs no physical insertion of the cards. Therefore, contactless smart cards have faster applications and are more user-friendly than contact-based smart cards.
Analysts forecast the Smart Card market in Latin America to grow at a CAGR of 8.8 percent over the period 2014-2019.
Analyst said: "The increased adoption of near- field communication payments is a major trend emerging in this market. With growing awareness of NFC payment solutions, the adoption of smart cards by the BFSI sector is increasing. NFC-enabled mobile devices operate in card emulation mode for mobile contactless payments. Therefore, they are being widely adopted by some of the emerging sectors."
According to the report, the entry of prominent global vendors in developing countries is one of the major drivers of growth. As Latin America lacks local players with expertise, it is the global players who control the market in this region. This leads to a high degree of competition among vendors, which forces them to offer smart cards at nominal rates.
Covered in this Report
This report covers the present scenario and the growth prospects of the Smart Card market in Latin America for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of the following type of smart cards:
- Contact-based
- Contactless
The report consolidates the revenues generated from the following major sectors:
- BFSI Sector
- Government Sector
- Transportation Sector
The market is highly fragmented with the presence of a large number of small and large vendors. Therefore, the report does not provide the market share of the vendors; it only lists the key vendors in the market.
The Smart Card Market in Latin America 2015-2019 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Smart Card market in Latin America and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Key Regions
- Latin America
Key Vendors
- Gemalto
- Giesecke & Devrient
- Morpho
- Oberthur Technologies
- Watchdata System
Other Prominent Vendors
- AB Note
- Arm Holdings
- ASK
- Atmel
- Crocus Technology
- Datacard
- Diebold
- Infineon Technologies
- Ingenico
- Inside Contactless
- Verifone System
Market Driver
- Prominent Vendors Venturing into Developing Countries
- For a full, detailed list, view our report
Market Challenge
- Growing Price War
- For a full, detailed list, view our report
Market Trend
- Increased Adoption of NFC Payment
- For a full, detailed list, view our report
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 95 pages and 39 Exhibits "Smart Card Market in Latin America 2015-2019" report covering the Executive Summary, List of Abbreviations, Scope of the Report, Market Research Methodology, Introduction, Market Description, Market Landscape, Market Segmentation by Technology, Market Segmentation by End-users, Market Attractiveness, Buying Criteria, Market Growth Drivers, Drivers and their Impact, Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor Landscape, Key Vendor Analysis, Key Developments. This report Covered These Companies - Gemalto, Giesecke & Devrient, Morpho, Oberthur Technologies, Watchdata System, AB Note, Arm Holdings, ASK, Atmel, Crocus Technology, Datacard, Diebold, Infineon Technologies, Ingenico, Inside Contactless, Verifone System.
For further information on this report, please visit- http://www.marketresearchreports.com/technavio/smart-card-market-latin-america-2015-2019
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