Smart Card Reader Market Research Report- Global Forecast till 2027

Smart Card Reader Market Region: By Type (Contact-Based, Contactless-Based and Dual Interface Based) By Technology (Europay MasterCard Visa (EMV) Chip, Near Field Communication (NFC) and Other), By Application (Payments, Identity Management, Security & Access Management, Ticketing and Others) - Forecast till 2027

ID: MRFR/SEM/6190-CR | April, 2019 | Region : Global

Market Analysis 


Global Smart Card Reader Market is predicted to touch USD 79,000 Million at a whopping 40.8% CAGR between 2018- 2024, states the recent Market Research Future (MRFR) report. The strong growth is due to the rapid adoption of smart cards.


COVID-19 Analysis 


The on-going COVID-19 pandemic has cast its shadow on different industries barring a few, such as the smart card reader market. The pandemic had a positive impact on the market growth chiefly on account of the growing need for contactless payments. Government administrations and WHO have advised people to maintain the norms of social distancing to prevent the spread of this deadly virus. Contactless payment is performed at a safe distance to assure the payer and the payee a secure payment process, thus boosting the demand for the contactless smart card market.


With the growing priority for the healthcare industry amid the crisis, smart cards are helping healthcare providers to maintain privacy safeguards and efficiency of patient care. A smart card reader system or smart card reader software enables the safe storage of information and also facilitate the provision to update when needed to reduce healthcare fraud. This will fuel the smart card reader online demand.


Market Dynamics



  • Drivers


Use of Blockchain Technology to Bolster Market Growth 


The use of blockchain technology for securing the data of the owner and improve the security features is likely to bolster market growth over the forecast period. Smart cards support the basic blockchain functionalities like signing methods, pin protection, and secure key generation.


Additional factors adding to the smart card reader market growth include an increase in the use of access cards, electronic identification cards, debit cards, credit cards, SD card reader online and USB smart card reader, increasing adoption for identity management, improvement in the smart card reader, application of smart card in different end use verticals like BFSI, transportation, and retail for a seamless and secure payment process, burgeoning demand for a smart credit card with chip, smart media card reader, and smart card reader input device, and growing need for security of applications which employ credential, documents, and critical information with the help of contactless cards as they improve security through communication and encryption between the card reader and the smart card device. Besides, the growing need for enhanced security for private data, increasing adoption of next-generation smart card technology for debit cards, access cards, credit cards, and others, the growing use of smart card readers in attendance and authorization in different industries, growing need for identification cards for availing government facilities, use of e-passports and smart cards in the banking system, use of smart card readers in businesses to protect login to laptops, networks, and computer, digitally encipher and sign email, and encrypt hard drives, and increasing awareness about the different benefits of smart card readers such as data integrity, security, flexibility, and portability are also adding market growth



  • Opportunities


Increasing Use of E-Commerce Apps to Offer Robust Opportunities 


The increasing adoption of e-commerce (electronic commerce applications) is likely to offer robust opportunities to market players in the upcoming years



  • Restraints


High Cost to Act as a Market Restraint 


The high cost of smart card readers, along with compatibility issues, may act as market restraints over the forecast period. 



  • Challenges


Security Issues to Act as a Market Challenge 


Security concerns related to contactless smart card reader technology, lack of standardization, and lack of consumer awareness may act as major market challenges for market players in the upcoming days.


Market Segmentation 


Global Smart Card Reader Market has been segmented based on Application, Technology, and Type.


Contact-Based Segment to Lead Smart Card Reader Market 


By type, the smart card reader market is segmented into dual interface based, contactless-based, and contact-based. Of these, the contact-based segment will lead the market over the forecast period. It is likely to develop at a healthy 40.6% CAGR by 2024. High preference by businesses for payment transactions due to their security benefits is adding to the growth of the segment. Smart card readers that are contact-based are common in debit card and credit card systems.


EMV Segment to Dominate Smart Card Reader Market 


By technology, the smart card reader market is segmented into near field communication (NFC), europay mastecard visa (EMV), and others. Of these, the EMV segment will dominate the market over the forecast period as it is a highly secure kind of card transaction. It is likely to develop at a whopping 40.5% CAGR by 2024.


Payments Segment to Spearhead Smart Card Reader Market 


By application, the smart reader market is segmented into ticketing, security and access management, identity management, payments, and others. Of these, the payments segment will spearhead the market over the forecast period. It is likely to develop at a 43% CAGR by 2024. The wide use of smart card readers for payment applications across the globe for its convenience over traditional methods of cash payments is adding to the growth of the segment. 


Regional Analysis


APAC to Dominate Smart Card Reader Market 


Geographically, the global smart reader market is segmented into North America, Asia Pacific (APAC), Europe, South America, and the Middle East & Africa (MEA). Of these, the APAC region will dominate the market over the forecast period. It is likely to develop at a healthy 42.5% CAGR by 2024. Escalating reputation of cashless payment in South Korea, China, Indonesia, and India, shift to cashless payments, local policymakers presenting frameworks for maintaining cashless payment modes, various micro and macroeconomic factors, increasing popularity of digital payments, and increasing adoption of smart card readers in retail, government, BFSI are adding to the global smart reader market growth in the region. Besides, smart card enabled e-governance project initiatives undertaken by the central government of India and its related departments and organizations, growing digitalization, growing banking sector, and rising e-commerce sector in India and China are also adding market growth. 


North America to Hold Second-Largest Share in Smart Card Reader Market 


In North America, the global smart card reader market is predicted to hold the second-largest share over the forecast period. Preference for plastic money coupled with initiatives by the government for cashless transactions is adding to the global smart card reader market growth in the region.


Competitive Landscape


The global smart reader market is highly fragmented as well as competitive with the presence of a couple of top market players. These market players have encompassed strategies such as acquisitions, alliances, contracts, R&D activities, and others to strengthen their share in the market.


Key Players 


Prominent players profiled in the global smart card reader market report include Identive Group, Rocketek Electronics, Square, Inc., Advanced Card Systems Ltd., Gemalto NV, CHERRY, HP Inc., Ingenico Group, PayPal Holdings, Inc., PAX Global Technology Limited, IOGEAR, Stanley Global LLC., Verifone Systems Inc., ID TECH, among others.


Recent Developments



  • January 2021- Distec has partnered with Starbit to offer smart retail solutions in the UK. Coop Norden will pilot the latest queuing system of Startbit with AirSwipe technology together with an upgrade of a payment card-reader on their self-service solutions in more than 850 stores. 

  • January 2021- DT Research has launched its first-ever military standard 360 convertible laptops having antimicrobial enclosures. It will come with an in-built CAC/smart card reader and optional RGB/IR back and front cameras for facial recognition. 


Competitive Landscape


Global Smart Card Reader Market is highly competitive and fragmented in nature with the presence of several market players. These players have adopted strategies such as R&D activities, mergers, collaborations, partnerships, and others to widen their scope in the market.


Report Scope 


The global smart card reader report by Market Research Future throws light on the current trends and niches in the industry. The report also lays emphasis on the various market drivers, opportunities, market restraints, and challenges, as well as offers insights for the forecast period. It also throws light on the different market segments for a comprehensive understanding of the reader


By Type 



  • Contact-based

  • Contactless-based 

  • Dual Interference Based


By Technology 



  • EuroPay MasterCard (EMV)

  • Near Field Communication (NFC)

  • Others


By Application 



  • Payments 

  • Identity Management 

  • Security and Access Management 

  • Ticketing 

  • Others


By Region 



  • North America

  • Asia Pacific (APAC)

  • Europe

  • South America

  • The Middle East & Africa (MEA)

1 Executive Summary

1.1 Market Key Points 11

2 Research Methodology

2.1 Research Process 13

2.2 Scope of the Study 17

2.2.1 Market Structure 17

2.3 List of Assumptions 18

2.4 Forecast Model 18

3 Card Reader-Writer Introduction and Market Overview

3.1 Card Reader-Writer Market Overview 20

3.1.1 Introduction 20

3.1.2 Card Reader-Writer Market Scope and Market Size Estimation 20

3.1.2.1 Global Card Reader-Writer Value and Growth Rate from 2020-2027 20

3.2 Global Card Reader-Writer Market Segmentation (2020-2027) 21

3.2.1 Types of Card Reader-Writer 21

3.2.2 Applications of Card Reader-Writer 22

3.3 Global Card Reader-Writer Market Size and Analysis by Regions (2020-2027) 23

3.3.1 Regions of Card Reader-Writer 25

3.3.1.1 North America 25

3.3.1.2 Europe 27

3.3.1.3 China 29

3.3.1.4 Japan 30

3.3.1.5 Middle East & Africa 31

3.3.1.6 India 32

3.3.1.7 South America 34

3.4 Global Card Reader-Writer Market Dynamics (2020-2027) 35

3.4.1 Drivers 35

3.4.1.1 Increasing popularity and ease of cashless transactions 35

3.4.1.2 Increased use of card reader solution for identity management 35

3.4.2 Restraints 36

3.4.2.1 Security concerns 36

3.4.3 Opportunity 36

3.4.3.1 Rising adoption of contactless payment solutions in Europe 36

3.4.4 Challenge 37

3.4.4.1 Achieving interoperability among smart card systems 37

4 Industry Chain Analysis

4.1 Supply Chain Analysis 39

4.1.1 Raw Material Suppliers: 39

4.1.2 Card Reader Manufacturers 39

4.1.3 Designers and Programmers 40

4.1.4 System Integrators 40

4.1.5 End–Users 40

5 Global Card Reader-Writer Market, by Type

5.1 Overview 42

5.1.1 Contact-based 43

5.1.2 Contactless-based 43

5.1.3 Dual interface based 43

6 Global Card Reader-Writer Market, by Application

6.1 Overview 45

6.1.1 Payments 46

6.1.2 Identity Management 46

6.1.3 Security & Access Management 47

6.1.4 Ticketing 47

6.1.5 Others 47

7 Global Card Reader-Writer Consumption and Market Share, by Application

7.1 Global Card Reader-Writer Market Consumption, By Application 49

8 Global Card Reader-Writer Supply, Production, Consumption, Export, Imports, by Region

8.1 Global Card Reader-Writer Supply, Production, Consumption, Export, Imports, by Regions 51

8.1.1 North America 51

8.1.2 Europe 51

8.1.3 China 51

8.1.4 Japan 52

8.1.5 India 52

8.1.6 South America 52

8.1.7 Middle East & Africa 53

9 Competitive Landscape

9.1 Key Players Market Share Analysis, 2017 (%) 55

9.2 Company Profile 56

9.2.1 HID Global Corporation 56

9.2.1.1 Company Overview 56

9.2.1.2 Products/Solutions/Services Offered 56

9.2.1.3 Key Developments 57

9.2.1.4 SWOT Analysis 57

9.2.1.5 Key Strategies 57

9.2.2 Gemalto NV 58

9.2.2.1 Company Overview 58

9.2.2.2 Financial Overview 58

9.2.2.3 Products/Solutions/Services Offered 59

9.2.2.4 Key Developments 59

9.2.2.5 SWOT Analysis 59

9.2.2.6 Key Strategies 59

9.2.3 ID TECH 60

9.2.3.1 Company Overview 60

9.2.3.2 Products/Solutions/Services Offered 60

9.2.3.3 Key Developments 61

9.2.3.4 SWOT Analysis 61

9.2.3.5 Key Strategies 61

9.2.4 Alcor Micro Corporation Ltd. 62

9.2.4.1 Company Overview 62

9.2.4.2 Financial Overview 62

9.2.4.3 Products/Solutions/Services Offered 62

9.2.4.4 Key Developments 62

9.2.4.5 SWOT Analysis 63

9.2.4.6 Key Strategies 63

9.2.5 IOGEAR 64

9.2.5.1 Company Overview 64

9.2.5.2 Products/Solutions/Services Offered 64

9.2.5.3 Key Developments 64

9.2.5.4 SWOT Analysis 65

9.2.5.5 Key Strategies 65

9.2.6 NXP Semiconductors 66

9.2.6.1 Company Overview 66

9.2.6.2 Financial Overview 66

9.2.6.3 Products/Solutions/Services Offered 66

9.2.6.4 Key Developments 67

9.2.6.5 SWOT Analysis 67

9.2.6.6 Key Strategies 67

9.2.7 Apple Inc. 68

9.2.7.1 Company Overview 68

9.2.7.2 Financial Overview 68

9.2.7.3 Products/Solutions/Services Offered 69

9.2.7.4 Key Developments 69

9.2.7.5 SWOT Analysis 69

9.2.7.6 Key Strategies 69

9.2.8 Dell Technologies Inc. 70

9.2.8.1 Company Overview 70

9.2.8.2 Financial Overview 70

9.2.8.3 Products/Solutions/Services Offered 71

9.2.8.4 Key Developments 71

9.2.8.5 SWOT Analysis 71

9.2.8.6 Key Strategies 71

9.2.9 CHERRY 72

9.2.9.1 Company Overview 72

9.2.9.2 Products/Solutions/Services Offered 72

9.2.9.3 Key Developments 72

9.2.9.4 SWOT Analysis 73

9.2.9.5 Key Strategies 73

9.2.10 HP Inc. 74

9.2.10.1 Company Overview 74

9.2.10.2 Financial Overview 74

9.2.10.3 Product/Solution/Service Offered 75

9.2.10.4 Key Developments 75

9.2.10.5 SWOT Analysis 75

9.2.10.6 Key Strategies 75

9.2.11 Advanced Card Systems Ltd. 76

9.2.11.1 Company Overview 76

9.2.11.2 Financial Overview (HNA Technology Investments Holdings Limited.) 76

9.2.11.3 Products/Solutions/Services Offered 77

9.2.11.4 Key Developments 77

9.2.11.5 SWOT Analysis 78

9.2.11.6 Key Strategies 78


10 List of Tables

TABLE 1 GLOBAL CARD READER-WRITER MARKET KEY POINTS 11

TABLE 2 LIST OF ASSUMPTIONS 18

TABLE 3 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY TYPE (2020-2027) 21

TABLE 4 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY APPLICATION (2020-2027) 22

TABLE 5 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY REGION (2020-2027) 24

TABLE 6 NORTH AMERICA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY COUNTRY (2014-2017) 25

TABLE 7 NORTH AMERICA CARD READER-WRITER MARKET VOLUME (K UNITS) COMPARISON BY TYPE (2020-2027) 26

TABLE 8 EUROPE CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY COUNTRY (2020-2027) 27

TABLE 9 EUROPE CARD READER-WRITER MARKET VOLUME (K UNITS) COMPARISON BY TYPE (2020-2027) 28

TABLE 10 CHINA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 29

TABLE 11 CHINA CARD READER-WRITER MARKET VOLUME (K UNITS) COMPARISON BY TYPE (2020-2027) 29

TABLE 12 JAPAN CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 30

TABLE 13 JAPAN CARD READER-WRITER MARKET VOLUME (K UNITS) COMPARISON BY TYPE (2020-2027) 30

TABLE 14 MIDDLE EAST & AFRICA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 31

TABLE 15 MIDDLE EAST & AFRICA CARD READER-WRITER MARKET VOLUME (K UNITS) COMPARISON BY TYPE (2020-2027) 32

TABLE 16 INDIA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 33

TABLE 17 INDIA READER-WRITER MARKET VOLUME (K UNITS) COMPARISON BY TYPE (2020-2027) 33

TABLE 18 SOUTH AMERICA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 34

TABLE 19 SOUTH AMERICA READER-WRITER MARKET VOLUME (K UNITS) COMPARISON BY TYPE (2020-2027) 34

TABLE 20 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON, BY TYPE (2020-2027) 42

TABLE 21 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON, BY APPLICATION (2020-2027) 45

TABLE 22 GLOBAL CARD READER-WRITER MARKET CONSUMPTION (K UNITS) COMPARISON, BY APPLICATION (2020-2027) 49

TABLE 23 NORTH AMERICA CARD READER-WRITER SUPPLY, PRODUCTION, CONSUMPTION, EXPORT, IMPORTS (K UNITS) COMPARISON, (2020-2027) 51

TABLE 24 EUROPE CARD READER-WRITER SUPPLY, PRODUCTION, CONSUMPTION, EXPORT, IMPORTS (K UNITS) COMPARISON, (2020-2027) 51

TABLE 25 CHINA CARD READER-WRITER SUPPLY, PRODUCTION, CONSUMPTION, EXPORT, IMPORTS (K UNITS) COMPARISON, (2020-2027) 51

TABLE 26 JAPAN CARD READER-WRITER SUPPLY, PRODUCTION, CONSUMPTION, EXPORT, IMPORTS (K UNITS) COMPARISON, (2020-2027) 52

TABLE 27 INDIA CARD READER-WRITER SUPPLY, PRODUCTION, CONSUMPTION, EXPORT, IMPORTS (K UNITS) COMPARISON, (2020-2027) 52

TABLE 28 SOUTH AMERICA CARD READER-WRITER SUPPLY, PRODUCTION, CONSUMPTION, EXPORT, IMPORTS (K UNITS) COMPARISON, (2020-2027) 52

TABLE 29 MIDDLE EAST & AFRICA CARD READER-WRITER SUPPLY, PRODUCTION, CONSUMPTION, EXPORT, IMPORTS (K UNITS) COMPARISON, (2020-2027) 53


11 List of Figures

FIGURE 1 TOP DOWN & BOTTOM UP APPROACH 16

FIGURE 2 GLOBAL CARD READER-WRITER MARKET STRUCTURE 17

FIGURE 3 GLOBAL CARD READER-WRITER MARKET SIZE (MILLION USD) AND GROWTH RATE (2020-2027) 20

FIGURE 4 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY TYPE (2020-2027) 21

FIGURE 5 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY APPLICATION (2020-2027) 22

FIGURE 6 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY REGION (2020-2027) 23

FIGURE 7 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY REGION (2020-2027) 24

FIGURE 8 NORTH AMERICA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY REGION (2020-2027) 25

FIGURE 9 EUROPE CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON BY REGION (2020-2027) 27

FIGURE 10 CHINA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 29

FIGURE 11 JAPAN CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 30

FIGURE 12 MIDDLE EAST & AFRICA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 31

FIGURE 13 INDIA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 32

FIGURE 14 SOUTH AMERICA CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON (2020-2027) 34

FIGURE 15 SUPPLY CHAIN ANALYSIS CARD READER-WRITER MARKET (2020-2027) 39

FIGURE 16 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON, BY TYPE (2020-2027) 42

FIGURE 17 GLOBAL CARD READER-WRITER MARKET REVENUE (MILLION USD) COMPARISON, BY APPLICATION (2020-2027) 45

FIGURE 18 MARKET SHARE OF CARD READER-WRITER COMPANIES 55

Smart Card Reader Market