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EMV Cards Market to Accelerate at a CAGR of Almost 7% during 2021-2025|TechnavioNEW YORK, March 22, 2021 /PRNewswire/ -- The EMV cards market is expected to reach USD 978.55 million during 2021-2025, as per the latest market research report by Technavio. The report also throws light on the impact of the COVID-19 pandemic, and the new opportunities and challenges that market players can expect. This research report forecasts the market to accelerate at a CAGR of almost 7% during the forecast period.
Make confident decisions using our benchmarks and analysis. The EMV card market growth is attributed to the rising need for complying with regulations related to EMV. However, the popularity of mobile payments might hinder the market growth. On the other hand, the advent of biometric EMV cards presents new opportunities in the coming years. The governments and financial governing bodies are focusing on regulating payments due to the rising number of payment card frauds. EMV compliance is a global payment card standard that was established by EMVCo LLC (EMVCo). According to EMV compliance, all existing magnetic cards and supporting devices should be replaced with new chip-based payment cards. As a result, banks and merchants are making significant investments in EMV cards and supporting payment terminals to comply with regulations. Furthermore, with many emerging countries that have not complied with EMV expecting to implement EMV compliance during the forecast period, there will be a rapid increase in the demand for EMV cards. "The increasing number of cashless transactions and the surging awareness of the benefits of EMV cards will further boost market growth during the forecast period," says a senior analyst at Technavio. Download a FREE Sample Analysis Report on the EMV Cards Market @ Key suggestions from the report:
Download a FREE Sample Report Major Three EMV Cards Companies: ABCorp ABCorp offers various products such as personalized EMV contact and Dual Interface debit and credit cards for the EMV cards market. CPI Card Group Inc. CPI Card Group Inc. operates business through Debit and credit, Prepaid debit, and Other. The company offers contact and dual interface EMV cards for small, mid-sized, and large financial card issuers. Fiserv Inc. Fiserv Inc. operates business through Payments and Industry Products, and Financial Institution Services. The company offers EMV cards under the brand, The Card Collection. Read the 120-page report with TOC on "EMV Cards Market analysis report by technology (contactless and contact-based) and geography (APAC, North America, Europe, South America, and MEA), and the segment forecasts during 2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. More Details: https://www.technavio.com/report/emv-cards-market-industry-analysis Related Reports on Infomation technology Include: Global Memory Cards Market- The memory cards market is segmented by type (SD card, compact flash, memory stick, and multimedia card) and geography (APAC, Europe, North America, South America, and MEA). Global Micro Light-Emitting Diode (LED) Market- The micro light-emitting diode (LED) market is segmented by product (display and lighting), geography (APAC, North America, Europe, South America, and MEA), and key vendors. About Us Contact
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