Smart Cards Market 2021 Trends, Share, Size, Growth, Opportunity and Forecast to 2026|NXP Semiconductors NV, Infineon Technologies AG and more

Smart Card Market 2021-2026

Report Details:

According to the figures given in the report, the  global  smart card  market  was valued at US $ 9,288.9 million in 2017 and is expected to reach a valuation of US $ 15,050.2 million by the end of 2024. , and reflect a CAGR growth of 7.1% during the 2017-2024 evaluation period.  

The thriving e-commerce and telecommunications sector in Asia-Pacific contributes almost 70% of the demand of the smart card market. The increase in smart card applications for government sector use in India and China is also a major driver of the Asia Pacific smart card market. The North American smart card market is expected to be a relatively less attractive market over the forecast period due to mature demand for new smart cards in the region. 

However, with the migration to the EMV card, the smart card market is expected to grow in North America, albeit at a slow pace. These are some of the relevant findings from the new report released by Persistence Market Research titled  “Smart Card Market: Global Industry Analysis and Forecast 2017 – 2024”. In addition, this research report also contains the various market dynamics that are affecting the growth of the global Smart Card market in the form of drivers, restraints, opportunities and trends. Such in-depth qualitative data helps to understand this lucrative and large market.

Request for Free Sample Report of  ‘Smart Cards’  Market  @https://www.persistencemarketresearch.com/samples/11149

Key players:

The report  profiled some of the prominent prevalent players in the world like  –  NXP Semiconductors NV, Infineon Technologies AG, Gemalto NV, Inside Secure SA, CPI Card Group Inc., Giesecke & Devrient GmbH, Watchdata Technologies Ltd., BC Card, IDEMIA, CardLogix Corporation and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future prospects of Smart Cards.

Global smart card market: dynamic

The SIM cards used by the telecommunications industry are smart cards based on memory chips. The growing number of cell phones has initiated a strong demand for SIM cards. This growing demand for SIM cards is driving the growth of smart card market as the telecommunication applications largely contribute in terms of revenue to the global smart card market. According to a report published by the International Telecommunication Union, the number of mobile subscriptions worldwide has been estimated at more than 7,000 million. Global mobile subscription is expected to exceed 9,000 million by the end of 2020, which will give the global smart card market a huge boost.

However, reluctance to adopt capital-intensive PoS terminals is hampering the adoption of smart cards in merchant stores. According to The New Republic (an American liberal magazine), only 10% of American merchants have switched to new EMV terminals that support contactless and contactless EMV cards as of 2014. Merchants are reluctant to spend money as long as they are ‘they are not sure that banks will issue contacts. and contactless smart cards. Conversely, banks don’t want to spend money on expensive cards until merchants install card readers. These factors may hamper the growth of the global smart card market during the assessment period.

Global Smart Card Market: Segmentation and Forecast

The global smart card market is segmented on the basis of type, component, end use, access type, and geography.

The dual interface segment is expected to be valued at US $ 1,884.3 million by the end of 2024, and this segment is expected to gain market share by 2024 compared to 2017.

The microcontroller card segment was valued at US $ 6,672.2 million in 2017 and is expected to reach a valuation of US $ 11,108 million by the end of 2024.
Among the product end-use segments, the telecommunications segment is expected to register the highest CAGR during the forecast period. 

The telecommunications segment was valued at US $ 4,601.2 million in 2017.
Among the access type segments, the physical access cards segment is expected to be the most attractive market in the global smart card market. This segment was valued at US $ 5,429.8 million in 2017.

The European smart card market is expected to lose significant market share by 2024 compared to 2017.  The European smart card market is expected to contribute 21.2% to the global smart card market by 2024 .

Key Stakeholders  
Smart Card Market Manufacturers 
Smart Card Market  Distributors / Traders / Wholesalers  
Market Sub-Component
Manufacturers  
Industry Association  
Downstream Suppliers

If you have any special requirements, please let us know and we will offer you the report you want.

Full Report Details @https://www.persistencemarketresearch.com/market-research/smart-cards-market.asp

Key Highlights of Smart Card Market Report:

The Smart Card Market analysis report offers an in-depth study of the growth opportunities and potential challenges of the market.

The report delves into the market and explains the dynamic factors that are supporting the growth of the market.

The report extensively assesses the current and historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the presence of the smart card market in the major regions of the world.

It determines the production and consumption capacities and the dynamics of supply and demand of each regional market.

The report further illustrates the intense competition among the major market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.

Key questions addressed in this report.

What will the market growth rate be in the future?
What are the key factors driving the global market?
Who are the main manufacturers in the market space?
What are the opportunities and threats facing global industry vendors?
What are the sales, revenue, and price analysis by regions of industry?
If you have any special requirements, please let us know and we will offer the report as you want  and provide  you with  a table of contents as well.

Click here to purchase this report @https://www.persistencemarketresearch.com/checkout/11149

Media contact:

Persistence market research

305 Broadway, 7th Floor New York City, NY 10007 USA

Call + 1-646-568-7751

Call +1 800-961-0353

sales@persistencemarketresearch.com

About PersistenceMarketResearch:

PersistenceMarketResearch is a well-established company with a reputation for serving clients in the information technology (IT), healthcare, and chemicals industries. Our analysts undertake careful primary and secondary research to provide a transparent report with a 360 degree perspective. The data is compared against reputable organizations, reliable databases and international surveys to produce crisp reports backed up by graphical and statistical information.

This release was published on openPR.