North America Contactless Smart Cards Market Size, Share & Trends Analysis Report By Functionality (Transaction and Security & Access Control), By Type the (MPU Microprocessor and Memory), By Industry Vertical, By Country and Growth Forecast, 2024 - 2031
The North America Contactless Smart Cards Market would witness market growth of 7.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America Contactless Smart Cards Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,901.7 million by 2031. The Canada market is experiencing a CAGR of 7.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8.6% during (2024 - 2031).
Contactless smart cards are integrated into IoT ecosystems, enabling seamless connectivity and communication between devices. For example, smart home systems can use contactless smart cards for user authentication and access control, enhancing security and automation. Some contactless smart card solutions leverage blockchain technology to enhance transaction security, transparency, and traceability. Blockchain-based contactless smart cards offer decentralized and tamper-resistant payment systems, appealing to users seeking heightened security and privacy.
Innovations in contactless smart card materials and manufacturing processes focus on reducing environmental impact. Biodegradable materials, recycled plastics, and energy-efficient production methods are being adopted to create more sustainable card solutions. Contactless smart card design and user interface innovations aim to improve the overall user experience. This includes customizable card designs, intuitive user interfaces, and seamless integration with digital platforms for card management and transaction monitoring.
The Mexican Online Sales Association estimates that the domestic e-commerce sector was worth USD 19.7 billion in 2021, an increase of 27% over 2020. In 2021, there were 57.5 million users of Mexican eCommerce, up 11% from the previous year. In 2020, women made up 51% of Mexican eCommerce users. Similarly, as per the International Trade Administration, in 2022, there were more than 27 million e-commerce users in Canada, or 75% of the population. By 2025, this percentage is projected to increase to 77.6%. Hence, the factors mentioned above will drive the regional market growth.
Based on Functionality, the market is segmented into Transaction and Security & Access Control. Based on Type, the market is segmented into MPU Microprocessor and Memory. Based on Industry Vertical, the market is segmented into BFSI, Retail, Transportation & Logistics, Hospitality, Healthcare, Media & Entertainment, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Sony Corporation
- Watchdata Co., Ltd.
- Infineon Technologies AG
- IDEMIA SAS (Advent International, Inc.)
- NXP Semiconductors N.V.
- Thales Group S.A.
- HID Global Corporation (Assa Abloy AB)
- STMicroelectronics N.V.
- CardLogix Corporation
- CPI Card Group Inc. (Parallel49 Equity)
By Functionality
- Transaction
- Security & Access Control
- MPU Microprocessor
- Memory
- BFSI
- Retail
- Transportation & Logistics
- Hospitality
- Healthcare
- Media & Entertainment
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Contactless Smart Cards Market, by Functionality
- 1.4.2 North America Contactless Smart Cards Market, by Type
- 1.4.3 North America Contactless Smart Cards Market, by Industry Vertical
- 1.4.4 North America Contactless Smart Cards Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2020, Jan – 2023, Feb) Leading Players
- 4.4 Porter Five Forces Analysis
- Chapter 5. North America Contactless Smart Cards Market by Functionality
- 5.1 North America Transaction Market by Region
- 5.2 North America Security & Access Control Market by Region
- Chapter 6. North America Contactless Smart Cards Market by Type
- 6.1 North America MPU Microprocessor Market by Country
- 6.2 North America Memory Market by Country
- Chapter 7. North America Contactless Smart Cards Market by Industry Vertical
- 7.1 North America BFSI Market by Country
- 7.2 North America Retail Market by Country
- 7.3 North America Transportation & Logistics Market by Country
- 7.4 North America Hospitality Market by Country
- 7.5 North America Healthcare Market by Country
- 7.6 North America Media & Entertainment Market by Country
- 7.7 North America Others Market by Country
- Chapter 8. North America Contactless Smart Cards Market by Country
- 8.1 US Contactless Smart Cards Market
- 8.1.1 US Contactless Smart Cards Market by Functionality
- 8.1.2 US Contactless Smart Cards Market by Type
- 8.1.3 US Contactless Smart Cards Market by Industry Vertical
- 8.2 Canada Contactless Smart Cards Market
- 8.2.1 Canada Contactless Smart Cards Market by Functionality
- 8.2.2 Canada Contactless Smart Cards Market by Type
- 8.2.3 Canada Contactless Smart Cards Market by Industry Vertical
- 8.3 Mexico Contactless Smart Cards Market
- 8.3.1 Mexico Contactless Smart Cards Market by Functionality
- 8.3.2 Mexico Contactless Smart Cards Market by Type
- 8.3.3 Mexico Contactless Smart Cards Market by Industry Vertical
- 8.4 Rest of North America Contactless Smart Cards Market
- 8.4.1 Rest of North America Contactless Smart Cards Market by Functionality
- 8.4.2 Rest of North America Contactless Smart Cards Market by Type
- 8.4.3 Rest of North America Contactless Smart Cards Market by Industry Vertical
- Chapter 9. Company Profiles
- 9.1 Sony Corporation
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 SWOT Analysis
- 9.2 Watchdata Co., Ltd.
- 9.2.1 Company Overview
- 9.2.2 Recent strategies and developments:
- 9.2.2.1 Partnerships, Collaborations, and Agreements:
- 9.2.3 SWOT Analysis
- 9.3 Infineon Technologies AG
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Acquisition and Mergers:
- 9.3.6 SWOT Analysis
- 9.4 IDEMIA SAS (Advent International, Inc.)
- 9.4.1 Company Overview
- 9.4.2 Recent strategies and developments:
- 9.4.2.1 Partnerships, Collaborations, and Agreements:
- 9.4.2.2 Product Launches and Product Expansions:
- 9.4.2.3 Acquisition and Mergers:
- 9.4.3 SWOT Analysis
- 9.5 NXP Semiconductors N.V.
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 SWOT Analysis
- 9.6 Thales Group S.A.
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.6 SWOT Analysis
- 9.7 HID Global Corporation (Assa Abloy AB)
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Partnerships, Collaborations, and Agreements:
- 9.7.5.2 Acquisition and Mergers:
- 9.7.6 SWOT Analysis
- 9.8 STMicroelectronics N.V.
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expense
- 9.8.5 SWOT Analysis
- 9.9 CardLogix Corporation
- 9.9.1 Company Overview
- 9.9.2 SWOT Analysis
- 9.10. CPI Card Group Inc. (Parallel49 Equity)
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental Analysis
- 9.10.4 SWOT Analysis
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