Press release
EMV Smart Cards Industry: (Market) Future Scope, Size, Share, and Forecast 2022 - 2031
EMV Smart Cards Market
EMV, which stands for Europay, Mastercard, and Visa, has revolutionized the payment card industry. These cards use near-field communication (NFC) technology to enable quick and effortless payments. Allied Market Research published a report on EMV smart cards industry. The report focuses on growth prospects, restraints, and trends of the EMV smart cards market forecast. The study provides Porter's five forces analysis to understand the impact of various factors, such as bargaining power of suppliers; competitive intensity of competitors; threat of new entrants; threat of substitutes; and bargaining power of buyers on the EMV smart cards market outlook.
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"The COVID-19 pandemic has positively impacted the EMV smart card payments market, owing to rise in preference for contactless and safer payment options. In addition, the technological advancements in EMV smart cards are expected to boost the growth of the market in the future." said Kanhaiya Kathoke, Research Analyst, BFSI at Allied Market Research.
According to a report, the global EMV smart cards market was valued at $5.8 billion in 2021 and is estimated to reach $14 billion by 2031, witnessing a CAGR of 9.7% from 2022 to 2031. In addition, the report focuses on the growth prospects, restraints, and trends of global EMV smart cards market analysis. The market is experiencing growth due to the factors such as rapid digitalization and surge in cashless transactions. However, high set-up cost, along with data theft & security concern restrains the market growth to some extent. Nevertheless, new mode of information security for users enabled by blockchain is expected to provide prolific growth opportunities for the industry in the upcoming years.
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Segmental Analysis of the EMV Smart Cards Market:
The EMV smart cards market can be viewed from multiple perspectives, including type, brand, application, and region.
By type
Debit card
Credit card
By brand
Visa
MasterCard
Others
By application
Food & Groceries
Health & Pharmacy
Restaurants & Bars
Consumer Electronics
Media & Entertainment
Travel & Tourism
Others
By region
North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Singapore, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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EMV Smart Cards Market: Key Market Players
American Express
Perfect Plastic Printing
SAMSUNG
JPMorgan Chase & Co.
HID Global Corporation
Versatile Card Technology Pvt Ltd.
Thales
CardLogix Corporation
Mastercard
Visa Inc.
Giesecke + Devrient GmBH
Infineon Technologies AG
NCR Corporation
VeriFone, Equinox Payments
CPI Card Group Inc.
IDEMIA
These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.
Key Benefits for Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the EMV smart cards market from 2021 to 2031 to identify the prevailing market opportunity.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global EMV smart cards market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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