Global Proximity Cards Market – Industry Trends and Forecast to 2028

Global Proximity Cards Market, By Frequency (Low Frequency Cards, High Frequency Cards and Ultra- High Frequency Cards), Technology (Smartcard Integrated Circuits, Memory Smart Cards, Microprocessor Smart Card and Others), Application (Hotel Buildings, Office Building, Government Building and Others), End User (Transportation, Banking, Retail and Loyalty, Entertainment, Government, Energy and Utility, Healthcare and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028

Market Analysis and Insights of Proximity Cards Market

Growth in the rate of digitization of economies, rise in the demand and preference for cashless modes of transaction, and increasing application of proximity cards by a wide range of end user verticals such as transportation, banking, retail and loyalty, entertainment, government, energy and utility, healthcare and others are the major factors attributable to the growth of proximity cards market. Data Bridge Market Research analyses that the proximity cards market will exhibit a CAGR of 7.10% for the forecast period of 2021-2028. Therefore, the proximity cards market value, which was USD 10,213.1 million in 2020, would stand tall by USD 17,679.63 million by 2028.

Proximity cards are used as a substitute to hard and physical cash. Proximity cards are the contactless cards that require card reading devices to function. The proximity cards require 125 kHz radio frequency signals to function. This is done by capturing the signals and using them to verify the credentials by contactless card readers. 

Rising focus on the adoption of better security solutions will emerge as the major proximity cards market growth driving factor. Growing digitization of emerging economies like India and China and rising research and development proficiencies for the development and advancement of products will further aggravate the proximity cards market value. Growing adoption of smart contactless card technology and growth and expansion of financial and banking sector especially in the emerging economies will further carve the way for the growth of the proximity cards market.

However, authentication advantages of contactless smart cards will act as a growth restraint for the proximity cards market. Rising performance concerns associated with the 125 kHz proximity systems will further dampen the growth rate of the proximity cards market. Hesitance to shift from traditional modes of payment in the underdeveloped economies is another proximity cards market growth restraint.

This proximity cards market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on proximity cards market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Proximity Cards Market Scope and Market Size

The proximity cards market is segmented on the basis of frequency, technology, application and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.

• The proximity cards market on the basis of frequency has been segmented into low frequency cards, high frequency cards and ultra- high frequency cards.
• Based on technology, the proximity cards market has been segmented into smartcard integrated circuits, memory smart cards, microprocessor smart card and others.
• On the basis of application, the proximity cards market has been segmented into hotel buildings, office building, government building and others.
• On the basis of end user, the proximity cards market is segmented into transportation, banking, retail and loyalty, entertainment, government, energy and utility, healthcare and others.

Proximity Cards Market Country Level Analysis

The proximity cards market is analysed and market size, volume information is provided by country, frequency, technology, application and end user as referenced above.

The countries covered in the proximity cards market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America region dominates the proximity cards market and will continue to flourish its trend of dominance during the forecast period. This is because the earliest adoption of proximity cards. Asia-Pacific region is projected to undergo substantial and project the highest CAGR for the forecast period owing to the rising digitization of economies and robust growth of financial and banking sector.

The country section of the proximity cards market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Proximity Cards Market Share Analysis

The proximity cards market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to proximity cards market.

The major players covered in the proximity cards market report are Thales Group, CardLogix Corporation., Giesecke+Devrient GmbH Watchdata Co., Ltd., HID Global Corporation, ID card SMB, IDenticard Systems, Paragon Group Limited, ADT., Zions Security, Advanced Card Systems Ltd., ASSA ABLOY, Zebra Technologies Corp., Magicard Ltd, AlphaCard., Identiv, Inc., Allegion plc, FERMAX ELECTRÓNICA, S.A.U., Honeywell International Inc., The Chamberlain Group, Inc. and Vanderbilt Industries among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.