Smart Cards Market 2022 Global Leading Companies Analysis, Revenue, Trends and Forecasts 2024

Smart Cards Market 2022

According to the figures given in the report, the  global  Smart Cards  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.  

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This report also analyzes the impact of Coronavirus COVID-19 on the Smart Cards industry.

The thriving e-commerce and telecommunications sector in Asia-Pacific contributes almost 70% of the demand of the Smart Cards market. The increase in Smart Cards applications for government sector use in India and China is also a major driver of the Asia Pacific Smart Cards market. The North American Smart Cards 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 Cards 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 Cards 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 Cards market in the form of drivers, restraints, opportunities and trends. Such in-depth qualitative data helps to understand this lucrative and large market. 

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.

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Global Smart Cards 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 Cards market as the telecommunication applications largely contribute in terms of revenue to the global Smart Cards 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 Cards 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 Cards market during the assessment period.

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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?

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