IC Card Management System Market Report

High Installation of IC Card Fuel Station Management Systems to Create Robust Demand

The global integrated circuit (IC) card management system market is predicted to improve its growth on the back of the high demand for biometric systems, contactless payment systems, and smart payment technologies. IC card management system is widely used in commercial applications such as hotels and restaurants as well as the industrial sector. Late in 2019, Assa Abloy acquired Australian commercial and industrial door manufacturer AM Group specialized in innovative entrance automation. Increasing deployment of fuel card systems and IC card fuel station management systems is expected to strengthen the demand for IC card management system in future.

The introduction of smart card IC for combi cards with contactless as well as contact functions could positively impact the global market sales. Furthermore, the global IC card management system market is anticipated to benefit from the growing demand for elevator access control system solutions.

Market Segments

By Product

● Smart Door Locks

● Fingerprint Readers

● Fuel Management

● Others

By Application

● Corporate and Government Buildings

● Fuel and Gas Filling Stations

●  Others

The demand for fingerprint readers is expected to significantly increase in the IC card management system market. Fingerprint readers are widely used across the retail payment, public transport, smart home technology, and several other sectors. One of the standout applications of fingerprint readers is EMV card or biometric payment card. Such cards make fingerprint payment simple both in contactless and contact modes. In February 2020, Assa Abloy announced that the Lumidigm V-series fingerprint readers are deployed at three Singaporean driving schools. Integral to a new eKYC system introduced by the Singapore Police Force, the fingerprint sensors can help newly qualified drivers to obtain their license faster.

By Region

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China accounted for a sizable share of the global IC card management system market in terms of production volume, according to QYR Consulting. The analysts also say that North America and Europe trailed China with slightly lower production volume shares of the global IC card management system market. With increasing population with decent disposable income, rapid expansion of the retail sector, and high demand for fuel due to the rising automobile production, Asia Pacific is anticipated to show impressive growth in the global IC card management system market.

Manufacturers to Expand Portfolio by Acquiring Biometric Access Control Solution Providers

The report offers thorough analysis of leading manufacturers operating in the global IC card management system market, including Censtar, Moxa, Prospect, Allegion, Jun Internationals, Assa Abloy, Sanki Petroleum Technology, Samsung, and OPW. IC card management system manufacturers are expected to continue to focus on winning contracts from public transport departments and fuel station owners in future. Acquisition is another strategy that could be adopted by players to gain a competitive edge in the global IC card management system market. Early in 2020, Assa Abloy announced the acquisition of Biosite, a UK provider of biometric fingerprint technology solutions for the construction sector.

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