Frost Radar in the Global Smart Cards Market
Published on: 19-Dec-2019 | SKU: ES01130-GL-MR_23765

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The global smart cards market (contact, contactless, hybrid, and dual-interface cards) is highly competitive. Manufacturers are adding features such as biometric security and looking to expand into the emerging sectors Internet of Things and eSIM spaces. The market is vast and mature, and the top 5 market participants are leaders across one or more of these product segments, though they face stiff competition from smaller and medium enterprises. Because the market is mature with leading participants offering similar products and solutions, innovation is a key competitive factor. Market leaders also focus on inorganic growth to expand their product portfolio and customer base.

Global market revenue in 2018 stood at $8.17 billion. Revenue is expected to increase at a compound annual growth rate (CAGR) of 3.0% between 2018 and 2025, reaching $10.03 billion. Asia-Pacific is the dominant region, accounting for 35.1% of global revenue and 47.8% of unit shipments. Revenue is expected to witness a 3.3% CAGR between 2018 and 2025.

The contact card is the most popular card type, with 2018 revenue of $5.07 billion. It will continue to contribute the largest revenue share during the forecast period. Dual-interface card revenue is likely to grow fastest, at a 5.2% CAGR between 2018 and 2025.

The banking and financial services vertical is the top revenue contributor, at 39.4%. The SIM card vertical is the leader in terms of units, at 49%.
The use of contactless smart cards globally for identification, ticketing, and payments is driving growth. Radio frequency identification (RFID) and near-field communication (NFC) contactless smart cards offer higher speed and convenience. Enhanced security makes them ideal for payments, ID, passports, and visas.

The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Author: Nandini Bhattacharya

Industry Overview

Industry Overview (continued)

Industry Overview (continued)

The Frost Radar

Frost Radar—Description of Companies Plotted

Frost Radar—Description of Companies Plotted (continued)

IDEMIA

Gemalto

Giesecke+Devrient

VALID

Watchdata

Wuhan Tianyu (Tianyu)

Eastcompeace

ABCorp

CPI Card Group

CardLogix Corporation

KONA I

Versatile Card Technology (VCT)

The Last Word—Key Takeaways

Legal Disclaimer

Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform

Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform (continued)

Frost Radar—C2A

Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
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Impacting your company's future growth potential.

The global smart cards market (contact, contactless, hybrid, and dual-interface cards) is highly competitive. Manufacturers are adding features such as biometric security and looking to expand into the emerging sectors Internet of Things and eSIM spaces. The market is vast and mature, and the top 5 market participants are leaders across one or more of these product segments, though they face stiff competition from smaller and medium enterprises. Because the market is mature with leading participants offering similar products and solutions, innovation is a key competitive factor. Market leaders also focus on inorganic growth to expand their product portfolio and customer base. Global market revenue in 2018 stood at $8.17 billion. Revenue is expected to increase at a compound annual growth rate (CAGR) of 3.0% between 2018 and 2025, reaching $10.03 billion. Asia-Pacific is the dominant region, accounting for 35.1% of global revenue and 47.8% of unit shipments. Revenue is expected to witness a 3.3% CAGR between 2018 and 2025. The contact card is the most popular card type, with 2018 revenue of $5.07 billion. It will continue to contribute the largest revenue share during the forecast period. Dual-interface card revenue is likely to grow fastest, at a 5.2% CAGR between 2018 and 2025. The banking and financial services vertical is the top revenue contributor, at 39.4%. The SIM card vertical is the leader in terms of units, at 49%. The use of contactless smart cards globally for identification, ticketing, and payments is driving growth. Radio frequency identification (RFID) and near-field communication (NFC) contactless smart cards offer higher speed and convenience. Enhanced security makes them ideal for payments, ID, passports, and visas. The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients. Author: Nandini Bhattacharya
More Information
Deliverable Type Frost Radar
No Index No
Podcast No
Author Nandini Bhattacharya
Industries Electronics and Sensors
WIP Number K423-01-00-00-00
Is Prebook No
GPS Codes 99D5-A1,9201-A3,9592,99F3-A3

Frost Radar in the Global Smart Cards Market

Electronics and SensorsFrost Radar in the Global Smart Cards Market

A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
19-Dec-2019
REGION
Global
Deliverable Type
Frost Radar
Research Code: K423-01-00-00-00
SKU: ES01130-GL-MR_23765
AvailableYesPDF Download
$4,950.00
In stock
SKU
ES01130-GL-MR_23765