Smart Card Global Market Report 2022: Market is Expected to Surpass $25 Billion in 2026 - Long-term Forecast to 2031 - ResearchAndMarkets.com
The "Smart Card Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global smart card market is expected to grow from $17.20 billion in 2021 to $18.54 billion in 2022 at a compound annual growth rate (CAGR) of 7.78%. The smart card market is expected to grow to $25.21 billion in 2026 at a compound annual growth rate (CAGR) of 7.99%.
The smart card market consists of the sales of smart card products by entities (organizations, partnerships, and sole proprietors) that refers to a physical plastic card with a built-in integrated chip that acts as a security token. These cards provide ways to identify and authenticate the cardholder and third parties who use the card. It connects to the host computer or controller through a card reader, which receives data from the card and sends it to the host computer for authentication.
The main types of smart cards are contact, contactless, hybrid and dual-interface. Contact smart cards refer to cards that make physical contact with the card reader. Contact smart cards can be recognized by a gold or silver chip on the card body. Smart cards are accessed physically and logically. The components of smart cards include memory-based and microcontroller-based. Government, healthcare, transportation, communications, financial services, retail and loyalty, entertainment, and energy and utility are the industries that use these cards.
Asia-Pacific was the largest region in the smart card market in 2021. The regions covered in the smart card market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The smart card market research report is one of a series of new reports that provides smart card market statistics, including smart card industry global market size, regional shares, competitors with a smart card market share, detailed smart card market segments, market trends and opportunities, and any further data you may need to thrive in the smart card industry. This smart card market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The surged demand for contactless payments is expected to signifiantly 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.
Technological advancement is the key trend gaining popularity in the smart card market. Major companies operating in the smart card market are focused on providing technologically advanced products to strengthen their market position. These companies are implementing next-generation smart card technologies into their products, such as memory technology, RFID, NFC, integrated circuit, Bluetooth tag, WiFi RTLS, and others. The above-mentioned feature and improvements build security, confidentiality, and convenience for its user.
In January 2022, Nayax Ltd., an Israel-based fintech company announced the acquisition of On Track Innovations Ltd. for $4.5 million in cash. Through this deal, Nayax aims to expand and gain share in targeted markets such as Japan and accelerate its growth opportunities. On Track Innovations Ltd. is an Israel-based company offering smart card technology.
The countries covered in the smart card market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Major players in the smart card market are
Key Topics Covered:
1. Executive Summary
2. Smart Card Market Characteristics
3. Smart Card Market Trends And Strategies
4. Impact Of COVID-19 On Smart Card
5. Smart Card Market Size And Growth
5.1. Global Smart Card Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Smart Card Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Smart Card Market Segmentation
6.1. Global Smart Card Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Smart Card Market, Segmentation By Access, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Smart Card Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.4. Global Smart Card Market, Segmentation By End Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Smart Card Market Regional And Country Analysis
7.1. Global Smart Card Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Smart Card Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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