The smart card global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Smart Card Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The smart card market size has grown strongly in recent years. It will grow from $20.94 billion in 2023 to $22.84 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to rising cybersecurity concerns, government initiatives, financial inclusion, contactless payment trends.
The smart card market size is expected to see strong growth in the next few years. It will grow to $32.68 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to mobile and wearable technology, biometric authentication, smart cities initiatives, e-commerce and online transactions, government-led digital initiatives. Major trends in the forecast period include rapid adoption in healthcare, blockchain integration, green and sustainable smart cards, customization and personalization.
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Scope Of Smart Card Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Card Market Overview
Market Drivers –
The surged demand for contactless payments is expected to significantly drive the growth of the smart card market. With the increase in social distancing during COVID_19, a rapid shift towards digitalization was seen in all aspects. Due to this sheer development in digitalization and e-commerce services, the movement to contact-less payment from numerous platforms has accelerated. For instance, in June 2021, UK Finance, a UK-based trade association, highlighted contactless payments accounted for 57% of all credit card transactions and 71% of all debit card transactions. Furthermore, in February 2022, nearly 1.2 billion contactless cards were recorded, an increase of 76.3 % from 668 million in February 2021 and 32.4 % from 889 million in February 2020. Hence the increasing demand for contactless payments will drive the growth of the smart card market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The smart card market covered in this report is segmented –
1) By Type: Contact, Contactless, Hybrid, Dual-Interface
2) By Access: Physical, Logical
3) By Componenet: Memory-Based, Microcontroller-Based
4) By End Use: Government, Healthcare, Transportation, Telecommunication, Financial Services, Retail And Loyalty, Entertainment, Energy And Utility
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Regional Insights –
Asia-Pacific was the largest region in the smart card market in 2023. The regions covered in the smart card market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the smart card market report are CardLogix Corporation, CPI Card Group – Colorado Inc., Giesecke & Devrient GmbH, IDEMIA, Infineon Technologies AG, ABCorp Corporation, Bartronics India Limited, BrilliantTS. co. Ltd., Bundesdruckerei GmbH, CardCom Technology, Eastcompeace Smart Card Co. Ltd., Francisco Partners, HID Global Corporation, Identiv Inc., Ingenico SA, Intelcav Cartões Ltda., Inteligensa Group, Kona M Co. Ltd., NXP Semiconductors Austria GmbH Co. & KG, Perfect Plastic Printing Corp., Samsung Electronics Co. Ltd., Secura Key, Sony Corporation, Square Inc., Thales Group, Valid S. A., VeriFone Inc., Watchdata Technologies Ltd., Taglio LLC, Cardzgroup Ltd.
1. Executive Summary
2. Smart Card Market Report Structure
3. Smart Card Market Trends And Strategies
4. Smart Card Market – Macro Economic Scenario
5. Smart Card Market Size And Growth
…..
27. Smart Card Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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