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The Global Smart Card Industry Is Likely To Climb To US$ 71.9 Billion By 2031 | Alioth, Cardlogix Corporation, CPI Card Group Inc.

03-31-2023 08:38 AM CET | Media & Telecommunications

Press release from: Global Insight Services

The Global Smart Card Industry Is Likely To Climb To US$ 71.9

The global Smart Card market was valued at USD 40.0 Billion in 2021 and it is anticipated to grow up to USD 71.9 Billion by 2031, at a CAGR of 6.0% during the forecast period.

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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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10-year forecast to help you make strategic decisions
In-depth segmentation which can be customized as per your requirements
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Groundbreaking research and market player-centric solutions for the upcoming decade according to the present market scenario

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Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with the highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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