The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Smart Card Market Size, Growth Rate, And Forecast
The global smart card market size grew from $18.57 billion in 2022 to $20.06 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart card market size is expected to grow to $27.56 billion in 2027 at a CAGR of 8.3%.
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Smart Card 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.
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Smart Card Market Segments
• By Type: Contact, Contactless, Hybrid, Dual-Interface
• By Access: Physical, Logical
• By Componenet: Memory-Based, Microcontroller-Based
• By End Use: Government, Healthcare, Transportation, Telecommunication, Financial Services, Retail And Loyalty, Entertainment, Energy And Utility
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Smart Card market.
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Smart Card Market Key Players
Major competitors in the Smart Card market include CardLogix Corporation, CPI Card Group, Giesecke & Devrient, IDEMIA, Infineon Technologies AG, NXP Semiconductors NV.
The Business Research Company’s “Global Smart Card Market Report 2023” is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market’s historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Smart Card Market Include:
1. Executive Summary
2. Smart Card Market Characteristics
3. Smart Card Market Trends And Strategies
4. Smart Card Market – Macro Economic Scenario
5. Smart Card Market Size And Growth
26. Africa Smart Card Market
27. Smart Card Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Card Market
29. Smart Card Market Future Outlook and Potential Analysis
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