Smart Card Market in North America, is expected to witness an impressive growth rate with a CAGR of 18.4% during the period 2014-2019.

Deerfield Beach, FL -- (SBWire) -- 07/16/2015 --Smart Card Market in North America 2015-2019

A smart card is a pocket-sized plastic card embedded with ICs, which are also called microchips. These are used for security purposes for authentication, identification, data storage, and application processing. Smart cards are used in some of the major sectors such as the BFSI, Government, Transportation, Healthcare, and Defense. They are classified into two types: contact-based and contactless. Contact-based smart cards have a contact area of about 1 sq. cm and are inserted into a smart card reader for usage. On the other hand, contactless smart cards employ an RF between the card and the reader and need no physical insertion, thus being more user-friendly than contact-based smart cards.

Smart Card market in North America to grow at a CAGR of 18.4 percent over the period 2014-2019.

The accessibility of twin smart cards is one of the major trends witnessed in the market. Also known as hybrid cards, these are a combination of a contactless interface and a contact interface in a single card. These cards eliminate the need to carry multiple cards, providing ease of handling.

Contactless smart cards are preferred to contact-based cards because they are user-friendly and provide fast application. The Government, BFSI, Transportation, Healthcare, and Defense sectors are some of the major end-users of smart cards in North America. The majority of the sectors have adopted smart card solutions to avoid the increased threat from terrorism, cross-border intrusions, forgery, and data theft. In addition, smart cards eliminate authentication and verification processes and can be consolidated into one card, eliminating the need to carry multiple cards.

Covered in this Report
This report covers the present scenario and the growth prospects of the Smart Card market in North America for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of the following smart cards:

Contact-based
Contactless

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The following are the major end-users of the market:

BFSI sector
Government sector
Transportation sector

Smart Card Market in North 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 North America and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

"The data available in smart cards are difficult to decode, and hence smart cards have a high adoption rate worldwide,"

"The data and information available in smart cards can be accessed only with the help of a pin code, which is difficult to interpret because the information is stored in the parent system.

To define the market conditions in the next 3-4 years, Our 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.

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Key Vendors:
Gemalto
Giesecke & Devrient
Morpho
Oberthur Technologies