Dual Interface Smart Card Market Insights
The global dual interface smart card market is expected to witness tremendous growth, owing to high technological advancements in the fields of semiconductors and telecommunications. Dual interface smart cards find application in industries such as telecommunication, BFSI, retail marketing, and numerous others.
The advancing the semiconductor industry and focus towards innovation have given a boost to already increasing popularity of dual interface smart cards. Contactless smart cards with enabled Wi-Fi module transaction are among the best examples of innovation with respect to these cards. Furthermore, increasing focus on digital transactions, backed by numerous offers and gifts, has also resulted in creating numerous growth opportunities for the dual interface smart card market in the recent past.
Dual interface smart cards with embedded semiconductor chips help in the transmission of data with more security by 128 or 64 bit encryption technology, depending on the type of application and semiconductor chip used. Increasing demand for smartphones is expected to drive the expansion of the dual interface smart card market size during the forecast period (2020-2030).
Technological advancements in the healthcare industry and increasing automation in this industry are expected to further propel market growth. The launch of Next Generation Networks (NGNs) and implementation of Internet of Thing (IoT) will aid market growth, as an aftereffect of increasing demand for numerous applications such as assets biotechnology, smart cities, smart grids, smart stadiums, and connected cars.
Dual Interface Smart Card Market Analysis by Substrate Material
Composite substrate designed dual interface smart cards offer strong lamination over printed material. In addition, composite substrate smart cards are extremely durable and water-resistant. These properties have made composite smart cards as the best choice for office and RFID tags in offices and toll booths. Furthermore, PVC substrate smart cards offer the benefit of adding a variety of UV coatings, depending on the desired level of finishing.
Polycarbonate smart cards are among the best choices for debit and credit cards, as well as loyalty cards. The PVC substrate smart cards segment is expected to create a value opportunity of US$ 925 Mn by 2030, and is poised to expand at a CAGR of 6% over 2020-2030.
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Dual Interface Smart Card Market Analysis by Operating System
Dual interface smart cards with dynamic application operating systems find application in SIM cards, credit & debit cards, and loyalty cards. These operating systems help in automatic updating of data without the requirement of any additional programming. Furthermore, these operating systems also provide security to the data stored with the help of encryption technology.
However, fixed file structure card operating systems find application in the office and healthcare segments. These operating systems for smart cards are very effective for analyzing biometric and component details while in contact with the reader. File structure operating system-based smart cards are expected to experience a growth rate of 5.5% over the forecast period.
Dual Interface Smart Card Market Analysis by Application
Shift from legacy networks to Long Term Evolution (LTE) networks has resulted in increasing data usage across the globe. The amount of data that is produced in a day is 2.5 quintillion bytes, which is higher than the last three decades. Emergence of big data and its applications such as business intelligence and search pattern reorganization has enabled demand for QoS in the telecom market.
These advancements have created mounting demand for SIMs (Subscriber Identity Modules), which will eventually open up numerous growth opportunities for the dual interface smart card market. Furthermore, adoption of loyalty programs as part of the marketing strategy of stores to provide incentives to their customers has created ascending demand for dual interface smart cards. The loyalty and store value segment is expected to progress at a CAGR of 6.5% over the forecast period.
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Regional Outlook of Dual Interface Smart Card Market
East Asia is seen as the most lucrative region in the global dual interface smart card market, backed by high growth in the consumer electronics industry as well as increasing demand for loyalty cards. Regional trends and regulatory policies play an important role in the development of dual interface smart card and semiconductor markets with respect to data privacy and encryption technology.
Favorable regulatory compliances and sustained demand from the telecommunications, BFSI, e-Commerce, and retail marketing sectors for smart cards in developing economies such as India and China are creating numerous opportunities in the region. Furthermore, Europe is expected to hold the second-largest global dual interface smart card market share, due to the technically-advanced semiconductor industry and advancing standard of living.
Dual Interface Smart Card Manufacturers: Key Players Focusing on Product Portfolio Expansion
Prominent players in the dual interface smart card landscape are focusing on the expansion of their product lines to meet the rising demand associated with different applications and segments. In addition to product portfolio expansion, key players are also investing large amounts of money for research & development activities in order to provide cards with more memory capability and high levels of data encryption.
Besides this, key players are also entering into long-term collaborations with end-use industries and raw material suppliers to establish their presence in regional as well as the global market. For instance, INDEX Biometrics SA launched TrustedBioTM in order to reduce biometric smart card cost with improved performance and security.
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COVID-19 Impact on Dual Interface Smart Card Market
The outbreak of COVID-19 is impacting the growth of the global dual interface smart card market, as an aftereffect of nation-wide lockdowns and disrupted supply chains. Priority for essential services and goods during these period has resulted in reduced demand for consumer electronic products such as smart phones, smart watches, and other smart wearable devices.
China and the U.S. are major consumers of dual interface smart cards, backed by the booming telecom industry and increasing demand for IoT applications. Imposition of lockdowns across major regions has hampered the demand for dual interface smart cards across the world.
The Analyst’s Viewpoint
“Dynamic application operating system-based dual interface smart card are expected to gain traction, backed by their auto upgrade features with respect to telecom industry applications”.
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Dual Interface Smart Card Market: Scope of the Report
Fact.MR has published an exclusive forecast report for the dual interface smart card market for the period of 2020 and 2030. The foremost objective of this report on the dual interface smart card market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements. The study also addresses the key dynamics that are expected to diversify the sales and future prominence of the dual interface smart card market.
The report on the dual interface smart card market begins with an executive overview, in which product definition has been provided. The report further proceeds with the taxonomy of the dual interface smart card market, elaborating on key segments.
The report also outlines visionary insights on the dynamics of the dual interface smart card market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for dual interface smart cards. Supply chain analysis and pricing analysis of the market along with the difference between dual interface smart cards used as per application has also been included in the report to help readers clearly understand the product framework map of the global dual interface smart card market.
Dual Interface Smart Card Market: Segmentation
Fact.MR has studied the dual interface smart card market with detailed segmentation on the basis of substrate, embedded chip, operating system, application, and region.
- PC Paper
- Teslin/ Synthetic Paper
- I2C Straight Memory Cards
- Stored Value Memory Cards
- Protected Segment Memory Cards
- Serial Data Flash
- Fixed File Structure
- Dynamic Application System
- SIM Cards and Telecommunications
- Loyalty and Stored Value
- Securing Digital Content and Physical Assets
- Bank Issued Smart Cards
- Healthcare Informatics
- Embedded Medical Device Control
- Enterprise and Network Security
- North America
- Latin America
- East Asia
- South Asia & Oceania
Dual Interface Smart Card Market – Report Scope
The recent study by Fact.MR on the dual interface smart card market offers a 10-year forecast for 2020-2030. The study analyzes crucial trends that are currently determining the growth of the dual interface smart card market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of dual interface smart cards. The study also provides dynamics that are expected to influence the future status of the dual interface smart card market over the forecast period.
A detailed assessment of value chain analysis, business executions, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the dual interface smart card market enhances the reliability of this comprehensive research study.
Dual Interface Smart Card Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the dual interface smart card market across the globe.
A comprehensive estimate on the dual interface smart card market has also been considered through an optimistic scenario as well as a conservative scenario regarding the sales of dual interface smart cards for the forecast period. Price point comparison by regions with global average price are also considered in the study.
Dual Interface Smart Card Market: Analysis on Market Size Evaluation
The study provides each market segment in terms of value (US$ Mn) analysis in the dual interface smart card market.
Market estimates at global and regional levels for dual interface smart cards are available in terms of 'US$ Mn' for value and 'Mn Units' in terms of volume. A Y-o-Y growth contrast on prominent dual interface smart card market segments, along with market attractiveness evaluation, has been incorporated in the report. Another key feature of the dual interface smart card market report is the analysis of all key segments in terms of absolute dollar. Absolute dollar opportunity is critical in assessing the level of opportunity that a manufacturer can look to achieve as well as identify potential resources, from sales and delivery perspectives, in the dual interface smart card market.
Dual Interface Smart Card Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which help deliver projections on regional markets. This chapter include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the dual interface smart card market during the forecast period.
Country-specific valuations on the demand for dual interface smart cards have been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of prominence in regions and countries. Regional markets Y-o-Y growth estimates have also incorporated in the report.
Detail breakup in terms of value for emerging countries has also been included in the report.
Dual Interface Smart Card Market: In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers in the dual interface smart card market, along with their detailed profiles. Essential and up-to-date data related to market players who are principally engaged in the production of dual interface smart cards has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.
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