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EMV Cards Market to Accelerate at a CAGR of Almost 7% during 2021-2025|Technavio
[March 22, 2021]

EMV Cards Market to Accelerate at a CAGR of Almost 7% during 2021-2025|Technavio


NEW 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.

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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.

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Key suggestions from the report:

  • By technology, the contactless segment accounted for the largest share o the overall revenue in 2020.
  • APAC dominated the market in 2020 and is expected to maintain its lead over the forecast period.
  • 57% of the market's growth will originate from APAC during the forecast period.
  • China and India are the key markets for EMV cards in APAC. Market growth in APAC will be faster than the growth of the market in other regions.



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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

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About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Report Page: https://www.technavio.com/report/emv-cards-market-industry-analysis

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SOURCE Technavio


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