Government Initiatives to Promote the Global Smart Card Market

The global smart card market is anticipated to grow at a significant CAGR of 7.5% during the forecast period (2024-2031). The governments of several countries are taking cohesive initiatives to promote the usage of smart cards globally. For instance, the US Federal government has standardized smart cards for employee and contractor identification cards. It is also specifying smart cards in new identity programs for citizens, transportation workers, and first responders. Some of the major initiatives include-

HSPD-12, FIPS 201, and the PIV Card: Both Federal agencies and enterprises have implemented FIPS 201-compliant ID programs and have issued PIV cards. The FIPS 201 PIV card is a smart card with both contact and contactless interfaces that is now being issued to all Federal employees and contractors.

Browse the full report description of “Smart Card Market Size, Share & Trends Analysis Report by Type (Contact-Based and Contactless), and by End-User Industry (BFSI, IT & Telecom, Government, and Transportation) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/smart-card-market

Department of Defense Common Access Card: One of the most advanced smart ID card programs in the US is the Department of Defense (DoD) Common Access Card (CAC), a smart card that serves as the DoD standard identification for active duty military personnel, selected reserve personnel, civilian employees, and eligible contractor personnel. The CAC is the principal card used for logical access to DoD computer networks and systems and will be the principal card used to enable physical access as systems are installed for authentication and access at DoD facilities.

DHS First Responder Authentication Credential (FRAC): The Office of National Capital Region Coordination coordinated a major initiative to develop a smart identity card system (the First Responder Authentication Credential) for emergency responders. These smart cards would allow first responders from across the region the ability to quickly and easily access government buildings and reservations in the event of a terrorist attack or other disaster.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Type

o By End-User Industry

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- includes Bundesdruckerei GmbH, CardLogix Corp., Watchdata Technologies Pte Ltd., IntelCav Tecnologia e Cartões, and Securakey, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Smart Card Market Report Segment

By Type

• Contact-Based 
• Contactless 

By End-User Industry

• BFSI
• IT & Telecom
• Government
• Transportation

Global Smart Card Market Report Segment by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• The Middle East & Africa

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