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Research and Markets: Global Contactless Smart Cards Market Report 2014-2018DUBLIN --(Business Wire)-- Research and Markets (http://www.researchandmarkets.com/research/8hlzqg/global) has announced the addition of the "Global Contactless Smart Cards Market 2014-2018" report to their offering. The Global Contactless Smart Card market will grow at a CAGR of 33.5 percent during the period 2013-2018 Smart cards are pocket-sized cards that are generally made of plastic and embedded with integrated circuits. They are mainly used for identification, authentication, data storage, and application processing. Smart cards are mainly of two types: contact-based and contactless. Contactless cards generally use radio-frequency induction technology for data and information transfer. The rate of data transfer can vary between 106 kbits/s to 848 kbits/s. Communication is facilitated byan antenna. These cards use inductors to capture the incident RF interrogation signal, which is rectified and used to power the card's electronics. In other words, signals are sent to the card reader, which then transfers the data and information into the system. Contactless smart cards are more user-friendly than contact-based smart cards. The growth of the Global Contactless Smart Cards market is driven by several factors, of which the growing need for a tamper-free system is one of the major drivers. Generally, cards embedded with magnetic tapes only store information about end-users' accounts. These cards can be easily tampered with, resulting in loss of information or data. However, contactless smart cards store information that can only be accessed with a pin code, which is difficult to decode, thereby protecting end-users' data. Further, the report states that high initial deployment and replacement cost is one of the major challenges faced by the vendors in the market. Regions such as South America and the APAC region have limited vendor penetration and few local players. As a result, the market is controlled by a small group of vendors, leading to low competition. Key Vendors Other Prominent Vendors
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