Friday 24 April 2015, Amsterdam
The report recognizes the following companies as the key players in the Smart Card Market in Europe: Gemalto NV, Giesecke & Devrient GmbH, Morpho SA, Oberthur Technologies and Watchdata System Co. Ltd.
Other Prominent Vendors in the market are: AB Note, Arm Holdings, ASK, Atmel, Datacard, Diebold, Infineon Technologies, Ingenico, Inside Contactless and Verifone System.
The report said: “High adoption of smart cards in e-commerce is one of the major trends in the market. E-commerce functions through debit/credit cards or online transactions. These debit or credit cards are embedded with chipsets that store data, which helps in making secure payments. With the rise in adoption of e-commerce, the demand for smart cards is also expected to increase.”
According to the report, increasing need to reduce identity duplication is one of the major drivers in this market. The number of cases of fraud and forgery has increased because of advances in technology. Hence, the increase in fraudulent activities is compelling vendors to create a solution that is difficult to duplicate.
Further, the report states that high implementation costs are one of the major challenges in this market. The price of smart cards is based on the microchips used in them. Hence, the price of a smart card increases with the increase in the level of security offered. As smart cards are adopted in large numbers, the total cost of implementation is high.
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.