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2022
Emv Smart Cards Market

EMV Smart Cards Market By Type (Contact Form and Contactless Form), Application (Fuel Card, Retail Store Card, Metal Voucher Card and Others), Distribution Channel (Wholesaler, Retailer Brokers and Others) and End-User (BFSI, Healthcare, Retail, IT and Telecommunication, Travel & Hospitality, Transportation & Logistics, Media & Entertainment, Government and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

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COVID-19

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EMV stands for Europay, MasterCard, and Visa, the three companies that founded EMV. A credit card with a smart chip is commonly referred as a smart card. The EMV standard is a security technology that is used worldwide for all credit, debit, and prepaid EMV smart card transactions. Instead of a mag stripe, EMV cards use a smart chip to store the information needed to complete a transaction. Furthermore, a smart card is a physical card with an integrated chip that functions as a security token. EMV smart cards are commonly used in applications like credit cards & other types of payment cards, corporate & government identification cards, and transit fare payment cards that require fast, secure transactions while protecting personal information. EMV smart cards are occasionally used as documents, such as electronic passports and visas. Therefore, the rise in demand for EMV smart cards industry is expected to boost the growth of the market in the upcoming period.

The global EMV smart cards market is segmented on the basis of type, application, distribution channel, end-user and region. Based on type, the market is divided into contact form and contactless form. In terms of application, the market is categorized into fuel card, retail store card, metal voucher card and others. On the basis of distribution channel, the market is divided into wholesaler, retailer brokers and others. On the basis of end user the market is divided into BFSI, healthcare, retail, IT and telecommunication, travel & hospitality, transportation & logistics, media & entertainment, government and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global EMV smart cards industry include Thales Group, IDEMIA, Giesecke+Devrient GmbH, Perfect Plastic Printing, CPI Card Group Inc., Eastcompeace Technology Co Ltd, Watchdata Co Ltd, Infineon Technologies AG, SAMSUNG and NXP Semiconductors Austria GmbH. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global EMV smart cards market.

Market Scope and Structure Analysis

Report Metric

Details

 Market size available for years

  2020–2030

 Base year considered

  2020

 Forecast period

  2021–2030

 Forecast units

  Value ($)

 Segments covered

Type, Application, Distribution Channel, End-User and Region

 Companies covered

Major players analyzed include Thales Group, IDEMIA, Giesecke+Devrient GmbH, Perfect Plastic Printing, CPI Card Group Inc., Eastcompeace Technology Co Ltd, Watchdata Co Ltd, Infineon Technologies AG, SAMSUNG and NXP Semiconductors Austria GmbH

 

COVID-19 Scenario Analysis

  • The COVID-19 outbreak has wreaked havoc on the world's economies and industries. Most industries have been thrown off track by trade and movement restrictions, lockdowns, and manufacturing disruptions. The pandemic, on the other hand, has created opportunities for the global powered EMV smart cards market trends.
  • To facilitate social distancing and combat the spread of the virus, the use of contactless payments has increased as a result of the outbreak. As a result of the increasing adoption of contactless smart cards around the world, revenue generated by contactless smart cards will grow at a rapid rate in the future.

Top Impacting Factors

The rise in trend towards digitalization in the fintech industry, surge in need of securing the payment card information, and increase in demand for smart cards in the banking sector are the factors that drive the global EMV smart cards market.

However, the high initial cost in the setup of Epos terminals hinders the market growth. Contrarily, investments in automation, incorporation of blockchain technology in EMV smart cards, increase in adoption of EMV cards in developing countries, and trend of wearable devices present new pathways in the industry.

Increased Adoption of Technologies Like Blockchain to Adhere Security

Blockchain is a ground-breaking technology that enables businesses to quickly and securely develop applications that meet stringent security requirements. EMV smart cards can efficiently and securely manage cryptographic keys, allowing for efficient and secure blockchain transactions. They serve as safe havens for cryptographic keys. Furthermore, the keys stored in EMV smart cards can be matched with keys stored in online libraries when they are connected to the Internet via POS readers. Users are authenticated if the match is successful. This is expected to assist banks and other ecosystem players in better securing and authenticating users' identities, reducing the number of instances of cyber theft.

Therefore, the growing adoption of blockchain technology is driving the growth of the EMV smart cards market during the forecast period.

Rise in Demand for Contactless Smart Cards

Increasing fraud relates to banking cards creates demand for the adoption of smart cards in the banking sector. Earlier, debit and credit cards were having magnetic stripe technology that holds only static information of the card and account which were easily vulnerable to card skimming. This increases the chances of counterfeit, card skimming and offers fraudsters to easily put skimmer devices inside the ATMs slot or Point of sale terminal to read the customer data stored in the magnetic stripe. Then they spread the information of the cards to other fraudsters across the globe who steal account balances by various means. Because of that, in 2018 bank customers have suffered a loss with the amount of ₹134 crores with the increasing attempts of fraudulent practices. Hence, all these factors demand contactless smartcards in the market.

Key Benefits of the Report

  • This study presents an analytical depiction of the global EMV smart cards market forecast along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.     
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the global EMV smart cards market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed market analysis depending on the present and future competitive intensity of the EMV smart cards market analysis.

Questions Answered in the EMV Smart Cards Market Research Report    

  • Which are the leading players active in the global EMV smart cards market size?
  • What would be the detailed impact of COVID-19 on the EMV smart cards market?
  • What are current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the global EMV smart cards market share?
  • What are the projections for the future that would help in taking further strategic steps?

Key Market Segments

Segments Sub-segments
Type
  • Contact Form
  • Contactless Form
Application
  • Fuel Card
  • Retail Store Card
  • Meal Voucher Card
  • Others
Distribution Channel
  • Wholesaler
  • Retail Brokers
  • Others
End-User
  • BFSI
  • Healthcare
  • Retail
  • IT & Telecommunication
  • Travel & Hospitality
  • Transportation & Logistics
  • Media & Entertainment
  • Government
  • Others
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 
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