Contactless Smart Card Market Share Global Size, Growth and Market Analysis

Posted by Sakshi Mishra on May 16th, 2021

Market Highlights

Contactless smart cards use radio frequency identification (RFID) technology to wirelessly communicate with a card reader. A copper or aluminum antenna is connected to an integrated circuit (chip) and then securely laminated inside plastic card body under high heat and pressure. Contactless smart cards range from simple memory cards with low security and non-volatile memory structure up to high-security crypto-processor cards and Java / Native operating system (OS) cards.

Contactless smart card systems are being widely used in various applications such as physical security, tracking, payment systems, and many more. The usage of RFID systems has grown quickly over the last decade and is rapidly becoming a common part of everyday life. The aim of contactless smart card technology is to provide low cost “no-touch” communication, which can create an authenticated, and optionally, the encrypted channel of communication between the card reader and the nearest smartcard.

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Segment Overview:

By Type:

Traditional ly Smart Cards were based on the principle of contact-based smart cards. These were generally microchips embedded on smart cards which could be used to connect to different devices using different media devices. Now smart cards are subjected to contactless which can occur as soft-tokens and hard-tokens available that use radio technology for wireless transmission.

By Service:

By service, Contactless Smart Cards are available in government and private sectors. The government has been tracking individuals for record purposes for a long time now earlier it was based on thumb-print tracking now it is more of app tracking through our phones. In the private sector, Contactless Smart Card Industry has boomed in all areas from healthcare, to retail.

Regional Analysis

Asia Pacific region is leading the global contactless smart card market due to the increasing number of forgery cases and duplicate identity cases. For instance, in Indonesia smart card IDs are rolled out to millions of government workers, pointing the way forward to future closed systems that offer identification and payment authentication. The technology is provided by HID Global and its deployment of those cards has come at a lower cost than similar projects, according to the company and the Indonesian agency overseeing the effort.

The contactless smart cards market is growing in Europe and North America. IDEX, a leading developer of advanced fingerprint solutions for mass markets, launched a ground-breaking flexible, low power fingerprint sensor ready to be used in contactless cards operating with standard NFC terminals. The sensor has state of the art power management which supports biometric card operation without a battery. The sensor is specifically designed for proven standard mass production processes. North America is expected to emerge as one of the key regional markets over the forecast period. The growth is mainly attributed to the increasing deployment of cloud-based contactless payment technologies in various verticals such as transportation. Europe is expected to be another major region for contactless payments owing to the growing number of smart card rollouts.

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