Press release
The Global Smart Card Industry Is Likely To Climb To US$ 71.9 Billion By 2031 | Alioth, Cardlogix Corporation, CPI Card Group Inc.
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A smart card is a type of card that has an embedded integrated circuit chip. This chip can be either a microprocessor or a memory chip. The smart card can be either a contact card or a contactless card. The microprocessor chip on the card can be programmed to perform various functions, such as storing data, processing data, and providing security. The data on the card can be either static or dynamic. Static data includes the cardholder's name, account number, and expiration date. Dynamic data includes the cardholders PIN, transaction history, and balance. The smart card can be used for a variety of purposes, such as identification, authentication, and payment. Smart cards are commonly used in credit cards, debit cards, and identity cards.
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Market Trends and Drivers
The increasing adoption of digital payment techniques that ensure improved convenience and security over traditional cash-based payments will fuel the industry growth. The market will gain traction with an increasing number of consumers using smart cards to avoid the hassle of carrying cash. As smart card-based transactions are highly encrypted, an increasing number of individuals use them to ensure confidentiality and easy management of payment records. These cards include a tamper-proof microprocessor with substantial processing power to protect the stored data and encrypt & implement instructions from specific programs.
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Global Smart Card Market Segmentation
By Solution
Smart card
Smart card reader
By Application
SIM & telecom
Financial
Government & health
Retail & gas
Access control
Transportation
Loyalty
Others
Major Players in the Global Smart Card Market
The key players in the market Alioth Llc, Cardlogix Corporation, Cpi Card Group Inc., Giesecke+Devrient GmbH, Idemia, Identiv, Inc., Infineon Technologies AG, NXP Semiconductors NV, Thales, and Watchdata Technologies. among others.
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