Press release
Smart Card Materials Market slated to expand robustly as contactless cards get trendy
Smart Card Materials Market
Smart card technologies have become an apt green IT equipment with incredibly light carbon footprint and compelling life cycle. Of late, trend for organic materials such as environmentally friendly banking cards has soared drastically.
The COVID-19 pandemic has left a raging impact worldwide, severely affecting business operations. Despite the grim current scenario, analysts predict that post the slowdown of the crisis, the market is likely to witness lucrative growth prospects. This report delivers a detailed evaluation of how COVID-19 has impacted the industry, the global economic downturn, and the latest trends characterizing the market at present.
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With current trends alluding cash to wane gradually, the winning profile for end-users is to infuse investment in smart card materials. As smart card has become a safe place to store invaluable information such as account numbers, passwords, private keys, leading companies will up their investment in contact and contact less cards. A latest research report compiled by Global Market Insights, Inc., projects smart card materials market size to expand significantly.
Trend for contactless smart card
With technological trends shaping smart card materials landscape, palpability for contactless cards in transit fare payments and access cards has gone mainstream. Moreover, introduction of smart card in next-gen e-passports and general payment cards is redefining the trends in the Smart Card Materials Market.
Use of contactless smart cards may be more pronounced in government ID cards, e-passport, and employees' card. Projecting a trend for contactless smart cards, these cards are being optimized to offer highly secure devices using encryption, cryptography and the internal computing power of the smart chips. Nevertheless, International Civil Aviation Organization states that 490 million ePassports are in circulation, the number is touted to rise.
Prominently, contactless smart cards have been gaining impetus in organizations which are contemplating biometrics for IT security applications or physical access. Smart cards have become an apt complement to the implementation of biometrics and have helped stakeholders do away with redundant wiring needed for biometric template management.
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Growth drivers in the Smart Card Materials Market landscape
At the time when institutions such as business enterprises, BFSI and other institutions are striving to reduce the risk of duplication of cards, investment in polycarbonate polymers has become a popular choice. Polycarbonate has become an ideal choice to bolster the level of security of ID documents.
Given that polycarbonate is known to withstand hostile climate, it has become the most trusted and reliable materials across end-use applications.
The factor that makes it distinct from other materials is the non-delaminable attribute of a full polycarbonate ID card. Strong investment in polycarbonate is expected be fuel growth in smart card materials market.
Prominent players operating in the global smart card materials market are
PetroChina Company Limited, SABIC Innovative Plastics, LG Chemicals, Teijin Ltd., Axiall Corporation, 3A Composites GmbH, BASF SE, SK Chemicals, Universal Smart Cards Limited, Solvay, KEM One, Eastman Chemical Company, Formosa Plastics Group.
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Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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