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Smart Card IC Market Growth, Demand, Opportunity, Analysis And Forecasts To 2020

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According to the report, increasing use of credit and debit cards for transactions will be a key driver for market growth. The increasing use of credit and debit cards for transactions is propelling card manufacturing vendors to adopt smart card-bas
Smart Card IC Market Share and Size, Emerging Trends, Analysis,
Overview and Outlook, Growth And Segment Forecasts To 2021
Technavio Announces the Publication of its Research Report Global Smart Card IC Market 2016-2020
Technavio recognizes the following companies as the key players in the global smart card IC market:
Infineon Technologies, NXP Semiconductors, Samsung Semiconductor, and STMicroelectronics.
Other Prominent Vendors in the market are: Shanghai Huahong Integrated Circuit.
Browse full report with [email protected] https://marketreportscenter.com/reports/388329/global-smart-card-icmarket-2016-2020
Commenting on the report, an analyst from Technavio’ s team said: “Increasing adoption of ecommerce will be a key trend for market growth. An increase in the adoption rate of e-commerce is
likely to boost market growth. During the forecast period, the e-commerce market is expected to grow
at a CAGR of 17%. It is growing at a faster rate in developing markets because of increasing penetration
of the internet, the high adoption rate of smartphones, and changing lifestyle of consumers. In addition,
the growth of the online market is likely to increase the demand for cyber security, thereby propelling
the growth of the global smart card IC market during the forecast period.”
According to the report, increasing use of credit and debit cards for transactions will be a key driver for
market growth. The increasing use of credit and debit cards for transactions is propelling card
manufacturing vendors to adopt smart card-based payment mechanisms. In addition, consumers are
expected to use cards and digital money more often than cash as the mode of payment. This encourages
vendors to invest in the EMV technology, with the expectation that merchants and consumers will
process payments through card transactions in a secure manner.
Further, the report states that multiple instances of credit and debit card frauds continue to be a major
challenge for stakeholders in the market. The most largely affected stakeholder were banks until 2015.
However, with the liability shift policy, merchants are liable for losses accounting from fraudulent
activities involving card transactions.
The study was conducted using an objective combination of primary and secondary information
including inputs from key participants in the industry. The report contains a comprehensive market and
vendor landscape in addition to a SWOT analysis of the key vendors.
Request A Sample copy of This Report @ https://marketreportscenter.com/request-sample/388329
About Smart Card
A smart card is made up of PVC, polyester, or polycarbonate and is embedded with an IC, an MCU, and a
memory chip. The memory chip is embedded with a smart card IC that can store and process a large
amount of data. The microcontroller helps to secure payment transactions with functions such as
encryption and digital signatures. It provides a tamper-resistant system and protects in-memory
information, thereby reducing cases of fraud.
Technavio’ s analysts forecast the global smart card IC market to grow at a CAGR of 8.49% during the
period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart card IC market for
2016-2020. To calculate the market size, the report considers the revenue generated from the sales of
smart card ICs.
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Technavio's report, Global Smart Card IC Market 2016-2020, has been prepared based on an in-depth
market analysis with inputs from industry experts. The report covers the market landscape and its
growth prospects over the coming years. The report also includes a discussion of the key vendors
operating in this market.
To Get Discount On The Report @ https://marketreportscenter.com/request-discount/388329
Connect for more details:
Sam Collins
Market Reports Center
1-646-883-3044 (US)
[email protected]
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