Global Smart Cards Market Projections & Growth Forecast at 8.6% CAGR during 2018-2026


Published on : Aug 27, 2018

Albany, New York, August 27, 2018: With technological advancements across payment services, the introduction of smart cards has emerged to become a convenient payment option for customers all around the globe. It is basically a plastic card that comprises of an integrated circuit chip carefully embedded in it. The benefit of smart cards is quite evident since they permit storage, exchange and manipulation of data. In order to study the overall market for smart cards on the global level, Market Research Hub (MRH) has included a new research report titled “Global Market Study on Smart Cards: North America to Remain Dominant Regional Market Through 2026”, to its broad repository. This study further focuses on the key industry drivers, market trends, challenges and market structure to educate the readers.

The smart cards market is anticipated to witness moderate revenue growth during the stated forecast period between 2018 and 2026. This advancement is expected due to increasing implementation of digital payment choices, secure & safe transactions, as well as enhanced features related to them. As per research findings, based on value, the smart cards market is likely to register 8.6% CAGR during the forecast period. 

On the basis of type, the global smart cards market is bifurcated into contact, hybrid, contactless and dual-interface smart cards. Further, based on end use, the overall market is segmented into healthcare, government, transportation, retail, & loyalty, financial services, and energy & utility and entertainment. In terms of access, the prime segments include physical and logical sub-segments. Moreover, the major components from the smart cards market examined in this report include microcontroller and memory cards.

Geographically, the key regions and countries studied in this report are North America, Europe, Latin America, SEA & Others in Asia Pacific, Japan, MEA and China. The report assesses the present scenario as well as growth prospects of the smart cards market covering various regions globally for the period between 2018 and 2026. The final section of the report talks about the competitive landscape to deliver a dashboard view to the clients based on categories of providers across the value chain and key differentiators. Some of the key competitors mentioned in the report are NXP Semiconductors N.V., Gemalto N.V., Infineon Technologies AG, CPI Card Group Inc., Inside Secure SA, WatchData Technologies Ltd., Giesecke & Devrient GmbH, IDEMIA, BC Card and CardLogix Corporation. Each of these players are discussed on the basis of their long-term and short-term strategies, recent developments and key offerings.

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