Press release
Powered Smart Card Market Estimated to Register a CAGR of 52% Between 2016 and 2024
Market dynamics
Need of secure and reliable payment methods and increasing mobile phone users globally are factors anticipated to drive growth of the global powered smart card market over the forecast period. Improving security in offices and residential buildings and preventing crimes across international borders are other factors likely to push the global powered smart card market demand during the forecast period. However, factors such as high cost of migration to contactless payment systems and technical issues faced by enterprises are major challenges expected to be faced by market players operating in the global powered smart card market during the forecast period.
Request sample: https://www.persistencemarketresearch.com/samples/3878
Major opportunities for growth in the global powered smart card market lie in the convergence of powered smart cards and additional services that card issuing companies could include as part of their offering.
Market insights
The global powered smart card market is segmented on the basis of Type (Contactless Cards, Dual-interface Cards, Hybrid Cards); on the basis of Application (Government Sector, Healthcare Sector, Transportation Sector, Telecommunication Sector, Pay TV Sector, Financial Services, Retail, and Loyalty Sector, and Energy and Utility Sector (Smart Meters for Electricity, Water and Gas)); and on the basis of Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa). In terms of consumption, the Contactless Card segment in the global powered smart card market stood at 1,317.9 Mn units in 2015 and is expected to register a CAGR of 12.6% to reach 3,895.5 Mn units by 2024 end. This segment is expected to witness comparatively higher Y-o-Y growth throughout the forecast period. The Hybrid Cards segment in the global powered smart card market was valued at US$ 472.8 Mn in 2015 and is expected to expand at a CAGR of 8.2% to reach US$ 971.6 Mn by 2024. The Government Sector segment in the global powered smart card market was valued at US$ 412.4 Mn in 2015 and is expected to reach US$ 948.4 Mn by 2024, witnessing a CAGR of 9.7%.
Download TOC : https://www.persistencemarketresearch.com/market-research/powered-smart-card-market/toc
Among regions, the Latin America market is expected to witness comparatively higher Y-o-Y growth throughout the forecast period. The Latin America powered smart card market was valued at US$ 217.5 Mn in 2015 and is projected to reach US$ 660.1 Mn by 2024. Asia Pacific is likely to remain the dominant market in terms of revenue in the global powered smart card market and is expected to witness a CAGR of 10.5%.
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
305 Broadway,7th Floor
New York City, NY 10007
United States
+1-646-568-7751
+1 800-961-0353 (USA-Canada Toll free)
Email: sales@persistencemarketresearch.com
Website: https://www.persistencemarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Powered Smart Card Market Estimated to Register a CAGR of 52% Between 2016 and 2024 here
News-ID: 736020 • Views: …
More Releases from Persistance Market Research
Evolving Trends in the Insulin Pens Market: A Comprehensive Report
Market Overview:
The Insulin Pens Market has witnessed remarkable growth and innovation over the years. Insulin pens are medical devices used by individuals with diabetes to administer insulin easily and accurately. These devices have become an integral part of diabetes management, offering numerous advantages over traditional insulin delivery methods, such as syringes and vials.
In 2022, the global market for insulin pens brought in US$ 16.2 billion in revenue and is predicted…
Smart Machines Market to register growth at a CAGR of 20.1% throughout 2023-2033
The market for smart machines was valued at US$ 73,456.2 Mn in 2022, and it is expected to grow to US$ 5,44,986.6 Mn by the end of 2033. In 2023, the market for smart machines is expected to be worth US$ 87,045.6 Mn. From 2023 to 2033, the market for Smart Machines is expected to grow at a CAGR of 20.1%.
The market for artificially intelligent machines and systems that can…
Unified Cloud Communication and Collaboration Market will register a 11.1% CAGR …
The global cloud collaboration market was valued at US$ 48 billion in 2022, and it is expected to grow at an 11.1% CAGR, likely reaching US$ 137.3 billion by the end of the forecast period, which runs from 2022 to 2032. The expansion of organizations' cross-border projects, increased productivity, and the rise of the bring your own device (BYOD) trend are some of the major factors expected to drive the…
Optical Transceivers Market is Set to Grow At A CAGR Of 14.6 % By 2032
Persistence Market Research's new report "Optical Transceivers Market" examines the competitive landscape and the market's growth prospects in the coming years. The report of the Optical Transceivers market for the analysis period of 2023 - 2033 includes an in-depth study of some new and prominent industry trends, engagement analysis, and detailed regional analysis.
Need More Insights on Competitor Analysis of the Smart Home Cloud Platform Market, Request for Sample https://www.persistencemarketresearch.com/samples/4798
Through…
More Releases for Card
Gift Card and Incentive Card Market Set for Explosive Growth | National Gift Car …
A new business intelligence report released by AMA with title "Gift Card and Incentive Card Market" has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Gift Card and Incentive Card Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through…
IC Card/Smart Card Market 2022 | Detailed Report
The IC Card/Smart Card research report combines vital data incorporating the competitive landscape, global, regional, and country-specific market size, market growth analysis, market share, recent developments, and market growth in segmentation. Furthermore, the IC Card/Smart Card research report offers information and thoughtful facts like share, revenue, historical data, and global market share. It also highlights vital aspects like opportunities, driving, product scope, market overview, and driving force.
Download FREE Sample Report…
Prepaid Card Market by Card Type (Single-purpose prepaid card, and Multi-purpose …
Higher preference of prepaid cards to bank account cards has attributed to cost-effectiveness and flexibility. Moreover, increase in awareness and convenience of these cards enhance the adoption of prepaid cards. Furthermore, emerging applications & acceptance of these prepaid cards for various transactions and increasing popularity among individuals traveling abroad are expected to boost the market growth in the future.
A new report published by Allied Market Research, titled, Prepaid Card Market…
Prepaid Card Market by Card Type (Single-purpose prepaid card, and Multi-purpose …
Higher preference of prepaid cards to bank account cards has attributed to cost-effectiveness and flexibility. Moreover, increase in awareness and convenience of these cards enhance the adoption of prepaid cards. Furthermore, emerging applications & acceptance of these prepaid cards for various transactions and increasing popularity among individuals traveling abroad are expected to boost the market growth in the future
Prepaid Card Market is projected to grow at a CAGR of 22.7%…
Card Intelligent Lock Market Report 2018: Segmentation by Type (Magnetic card Lo …
Global Card Intelligent Lock market research report provides company profile for Tri-circle, Dessmann, Royalwand, Bangpai, ZKTeco, Schlage, KEYLOCK, Yale, Tenon, KAADAS, BE-TECH and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also…
Prepaid Card Market Report 2018: Segmentation by Card Type (Single-purpose prepa …
Global Prepaid Card market research report provides company profile for Green Dot Corporation, NetSpend Holdings, Inc., H&R Block Inc., American Express Company, JPMorgan Chase & Co., PayPal Holdings, Inc., BBVA Compass Bancshares, Inc. and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and…
