Rising adoption of smart cards in the healthcare sector is a key factor driving market revenue growth
— Emergen Research
VANCOUVER, BRITISH COLUMBIA, CANADA, June 19, 2023/EINPresswire.com/ — The Latest research study released by Emergen Research on “Smart Card Market” with 150+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that leads the market growth.
The global smart card market size was USD Billion 14.50 in 2022 and is expected to register a steady revenue CAGR of 3.8% during the forecast period, according to latest analysis by Emergen Research. Increasing popularity of e-passports and national Identification (ID) programs and advancements in smart card technologies are major factors driving market revenue growth. For example, on 1 December 2022, Infineon’s SLC26P security controller, built on mature 28-nm manufacturing node, is aimed at high-volume payment systems that use smart cards. Infineon not only provides long-term and reliable sourcing but also enables superior efficiency and more energy-efficient payment industry solutions, by allowing 28-nm nodes for secure Integrated Circuits (ICs). Infineon claims that SLC26P is developed in collaboration with manufacturing partner TSMC and represents the first safety controllers for processing payments based on 28-nm tech.
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These smart cards feature creative ideas as well as strong security methods to ensure that transactions are processed with least amount of work and risk. EMV Technologies oversees how practically every country handles bank card payments. Furthermore, many countries have started issuing smart cards for government-issued ID purposes, including passports, driver’s licenses, and national ID cards. These smart cards use biometric technology and secure microprocessors to ensure authenticity of cardholder. Smart Card Market By Type (Integrated Circuit Memory Cards, Microprocessor (MP) Cards, Optical Memory Cards), By Interface, By Functionality (Communication, Security & Access Control, Transaction), By Verticals, By Region Forecast to 2032.
Key Players Included in this report are:
Thales, IDEMIA, CPI Card Group Inc., CardLogix Corporation, AT&T Business, Giesecke+Devrient GmbH, HID Global Corporation, Watchdata, Eastcompeace Technology Co., Ltd., Alioth, and Identiv, Inc
What can be explored with the Smart Card Market Study?
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Smart Card Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Smart Card Market
Understand the Competitive Scenarios
Track Right Markets
Identify the Right Verticals
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Some Key Highlights From the Report
The Banking, Financial Services, and Insurance (BFSI) segment accounted for largest revenue share in 2022. Dual interface smart cards are used in the financial industry for payment systems. These smart cards can be linked to a bank account and used for contactless payments, as well as being inserted into a Point-of-Sale (PoS) terminal for secure chip-and-pin transactions.
The dual segment is expected to account for largest revenue share during the forecast period. Dual interface smart cards are safe, multi-functional smart cards with a touch and a contactless interface, which work with both contact and contactless terminals.
The Europe market accounted for second-largest revenue share in 2022. Europay, Mastercard, and Visa (EMV) chip cards are widely used in European countries. These cards provide added security compared to traditional magnetic stripe cards. For example, in the European Union, use of EMV chip cards is widespread.
Market Segmentation Analysis
Players can concentrate on high-growth regions and, if necessary, modify their business plan according to the research report. The Smart Card Market is divided into a variety of categories, uses, and geographical areas. Players gain from the report’s regional segmentation research since it offers pertinent data and insights into important geographic marketplaces.
Type Outlook (Revenue, USD Billion; 2019–2032)
Integrated Circuit (IC) Memory Cards
MP Microprocessor Cards
Optical Memory Cards
Interface Outlook (Revenue, USD Billion; 2019–2032)
COVID-19 Impact Analysis
The post-COVID-19 phase has undergone substantial change, and Smart Card Market research highlights the opportunities and difficulties that still exist. This study report thoroughly examines the effects of the COVID-19 pandemic on the global economy and post-pandemic market behaviour.
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We carefully examined each division, regional classification, national study, and subject-specific data set during the market research. This Smart Card Market research report’s goal is to look at growth patterns, promising futures, important obstacles, and expected results. Information on significant market participants, strategic alliances, plans, new product launches, and joint ventures are all included in the research.
Key Reasons to Purchase Smart Card Market Report
The reader will be in a position to comprehend and react to marketing strategies like using strengths and conducting a SWOT analysis.
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