The global eID card market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising awareness about the eID card coupled with rising disposable income. Moreover, personal data protection and secure data transaction are driving the market growth.
Electronic identification card or eID cards have embedded integrated circuits. They are usually made up of plastic. eID cards are used to exchange, store, and manipulate data. These cards are reusable, perform secure transactions, and provide enhanced security.
An electronic identification is a digital solution for proof or identity of citizens or organizations. They can be used to get access to benefits or services provided by government authorities, and banks.
Smart cards reduce traveling time and improve service efficiency. It enables government agencies and transport services to collect the travel data of commuters. Smart cards have made payment options easier and more convenient. They are used in various applications such as BFSI, government & healthcare, transportation, retail, and healthcare.
The report on the global eID card market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
eID Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Radio Frequency Card, IC Card, and Others) and Applications (Transportation, Contactless Bank Cards, Identification, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Gemalto, Bundesdruckerei, Goznak, Giesecke & Devrient, Iris Corporation Berhad, Semlex Group, Verdios, Morpho, and IDEXPERTS. |
Based on types, the market is divided into radio frequency card and IC card. The IC card segment is anticipated to account a significant market share during the forecast period and is anticipated to grow at a steady rate during the forecast period. However, the radio frequency card is expected to expand at a healthy CAGR during the forecast period. Rising number of numbers of consumer opting for cashless payment is driving the segment growth.
On the basis of applications, the market is divided into transportation, contactless bank cards, identifications, and others. The transportation segment is anticipated to account for a major share due to rising demand for solutions that provide in authentication or access to particular solutions. It is used for various applications, such as daily customers use transportation passes for weekly, monthly and even annual usage, while students, senior citizens and disabled citizens often receive free or discounted passes to city transport.
In terms of regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to account for a large market share during the forecast period. Emerging business models and rapid digitization are the key factors responsible for the rapid growth of the market in the region. However, the market in Asia Pacific is expected to register a substantial CAGR during the forecast period in the global eID card market.
The global eID card has been segmented on the basis of
Types
Applications
Regions
Key Players
The major players of the market are Gemalto, Bundesdruckerei, Goznak, Giesecke & Devrient, Iris Corporation Berhad, Semlex Group, Verdios, Morpho, IDEXPERTS.
Companies are focusing on innovation, partnerships, and acquisitions to expand their market share.
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