A Powered smart card, chip card, or integrated circuit card (ICC), is any pocket-sized card that has embedded integrated circuits. Smart cards are typically made of plastic. Many smart cards include a pattern of metal contacts to electrically connect to the internal chip.
Others are contactless, and some are both. Smart cards can provide personal identification, authentication, data storage, and application processing. Applications include identification, financial, mobile phones (SIM), public transit, computer security, schools, and healthcare. Smart cards may provide strong security authentication for single sign-on (SSO) within organizations. Several nations have deployed smart cards throughout their populations.
The driving factor for powered smart card market is the Growing demand for secure and reliable payment transactions, improved security for offices and residential and commercial buildings, and a rising number of mobile phone connection subscribers worldwide these leads would generate a large sum for the demand for the global powered smart card market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.
Contactless smart cards do not require physical contact between a card and reader. They are becoming more popular for payment and ticketing. Typical uses include mass transit and motorway tolls. Visa and MasterCard implemented a version deployed in 2004–2006 in the U.S., with Visa’s current offering called Visa Contactless. Most contactless fare collection systems are incompatible, though the MIFARE Standard card from NXP Semiconductors has a considerable market share in the US and Europe.