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Contactless Smart Card Market to Post 18% CAGR by 2026, APAC Region to Spearhead the Global Market | COVID-19 Pandemic to Positively Impact the Global Contactless Smart Card Market

Key players in the contactless smart card market are ASK, Gemalto NV, Giesecke & Devrient, Morpho, Oberthur Technologies, Watchdata System, Advanced Card Systems, CardLogix, DataCard Corporation and DataCard Corporation.Pune, Feb. 17, 2021 (GLOBE NEWSWIRE) — Market Analysis Market Research Future (MRFR) expects the global contactless smart card market to register a CAGR of 18% from 2019 to 2026 (forecast period). A card comprises an embedded secure microcontroller or equivalent intelligence, internal memory, and an antenna that interconnects with a reader through a mobile radio frequency interface is widely known as a contactless smart card. Contactless smart cards provide the facility to protect and maintain, store and access data on the card. Contactless smart card systems have verified that they are more secure than any machine-readable card, such as magnetic stripe and barcode, as they provide system security for the exchange of data virtually. Major factors supporting the expansion of the Contactless Smart Card Market cards are the increasing incidence of forgery and identity duplication due to technological advances in the recent past. In addition, these cards are PIN protected and difficult to decipher since they can be used for contactless payments. Increasing approval in sectors like BSFI, retail, transport, hospitality, and the government is further bolstering demand for contactless smart cards. Furthermore, governments in several developed countries are making this technology mandatory for passports and driver licenses. In addition, the use of contactless smart cards for transit applications to provide convenient payment options is predicted to further fuel the growth of the global contactless smart card industry. Get Free Sample PDF Brochure: https://www.marketresearchfuture.com/sample_request/1022 COVID-19 Impact on the Global Contactless Smart Card MarketThe COVID-19 pandemic emerged in China and has spread to different countries around the world. The novel coronavirus has had a significant influence on human health and the global economy. The virus spreads when people come into close contact with people with respiratory symptoms of COVID-19. In addition, the virus also spreads through physical contacts, like handshakes with infected people. Governments worldwide have therefore implemented precautionary steps, such as social distancing. Contactless payments are set to increase during the COVID-19 pandemic. They have become the preferred method of payment around the globe, as digital and contactless payment methods are more reliable and require minimal physical interaction that helps prevent the spread of the pandemic. The current COVID-19 pandemic is helping to expand the demand for contactless smart cards by increasing the usage of contactless payments made from a safe distance, ensuring the protection of both the payer and the payee during the payment process. Many customers have begun to prefer contactless transactions since the pandemic. Businesses encourage consumers to pay by contactless cards for the delivery of products at their doorstep to protect their staff and customers while also growing sales during the COVID-19 pandemic. Before the outbreak of COVID-19, the US lagged in contactless payment methods relative to other countries; however, the whole scenario was changed by the COVID-19 pandemic. The spread of the virus has increased the use of contactless payments in the country due to the proliferation of contactless, point-of-sale devices like mobile wallets and contactless cards. In addition, in the U.K., where the contactless payment system is already common, limits on contactless card payments have been increased to allow consumers to make more payments without any physical contact with the payment terminal or currency. Asia Pacific had the largest market share due to the growing acceptance of contactless smart cards in applications like healthcare retail and BFSI. Banks in different countries have raised the transaction limits for contactless smart card payments to help curb the spread of the virus via PIN pads. Post-pandemic, the market is projected to see substantial growth over the forecast period. Coronavirus Outbreak and Contactless Smart Card Market:https://www.marketresearchfuture.com/report/covid-19-impact-contactless-smart-card-market Market Segmentation The global contactless smart card industry is segmented based on type, application, and technology. On the basis of the type, the global contactless smart card market is classified into proximity card & CPU/MPU cards. On the basis of the application, the global contactless smart card market is classified into BFSI, government, transportation, healthcare, defense, retail, and loyalty, among others. On the basis of technology, the global contactless smart card market is classified into smartcard integrated circuits, memory smart card, microprocessor smart card, and others. Regional AnalysisRegion-wise, the global contactless smart card market is segmented into Europe, North America, Asia Pacific (APAC), and the rest of the world (RoW). Browse In-Depth Market Research Report (100 Pages) On Contactless Smart Card:https://www.marketresearchfuture.com/reports/contactless-smart-card-market-1022 APAC to lead the global marketThe Asia Pacific is leading the global contactless smart card market. Rapid digitization of processes across industries, like retail, healthcare, government, and BFSI, has encouraged consumers to adopt such products. Emerging business models in this region, including IoT, aim to implement these cards for payment processes, thereby fueling the expansion of the regional industry. Europe is the second-largest market for contactless smart cards in the world. Ask Your Queries:https://www.marketresearchfuture.com/enquiry/1022 Competitive AnalysisThe global 4K technology industry is extremely fragmented and competitive with the presence of a significant number of international and regional players. Market players are intensely engaged in technological advancement, geographic expansion, and mergers and acquisitions in order to retain their footprint in the global market. Notable Players in The Global Contactless Smart Card Market Are: ASK (France)Oberthur Technologies (France)Gemalto NV (Netherlands)Giesecke & Devrient (Germany) Morpho (France)Watchdata System (Singapore)DataCard Corporation (U.S.)Advanced Card Systems (China)CardLogix (U.S.)DataCard Corporation (Germany) Browse Adjacent Markets: Networking and Telecommunications Market Research Reports & Consulting. Industry NewsIn November 2017, Gemalto collaborated with the Center for Identity at the University of Texas in Austin to promote research on identity management, privacy, and security. Browse Related ReportsGlobal Contactless Payment Market Research Report: By Technology (radio frequency identification, near field communication, host card emulation), Component [Hardware (Point of sale, Cards, Others), Solution and Service [Consulting, Integration and deployment, Support and maintenance)], Payment Mode (smartphones, smartcards, others), Vertical (BFSI, Hospitality & Travel, Media & Entertainment, Retail, Transportation & Logistics, Healthcare and others), Region (North America, Europe, Asia Pacific, Middle East & Africa and South America) – Forecast till 2025 Global Conversational Computing Platform Market Research Report: By Type (Solution [Chatbot, Text Assistant, Voice Assistant {Natural Language Processing, Natural Language Understanding, Machine Learning & Deep Learning, Automated Speech Recognition}], Service [Consulting & Training, System Integration & Deployment, Support & Maintenance]) Global Content Recommendation Engine Market Research Report, by Component (Solution), Filtering Approach (Collaborative Filtering, Content-Based Filtering), Organization Size (Small & Medium Enterprises, Large Enterprises), Vertical Global Mobile Application Development Platform Market, By Deployment Type (Cloud, On-Premise), Organization Size (Small & Medium Enterprise, Large Enterprises), Verticals (BFSI, Healthcare, Transportation & Logistics, Education) About Market Research Future:At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. CONTACT: Contact Market Research Future +1 628 258 0071(US) +44 2035 002 764(UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com

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