According to a new report Global Smart Card Market, published by KBV research, The Global Smart Card Market size is expected to reach $17.1 billion by 2026, rising at a market growth of 4.9% CAGR during the forecast period.
The Contactless market dominated the Global Smart Card Market by Interface 2019, growing at a CAGR of 4.5 % during the forecast period. The Contact market is poised to grow at a CAGR of 4.7% during (2020 - 2026). Additionally, The Dual Interface market is expected to witness a CAGR of 6.3% during (2020 - 2026).
The Telecommunications market dominated the Global Smart Card Market by Vertical 2019, and would continue to be a dominant market till 2026. The BFSI market is experiencing a CAGR of 4.7% during (2020 - 2026). The Government & Healthcare market is showcasing a CAGR of 5.2% during (2020 - 2026). Additionally, The Transportation market is estimated to grow at a CAGR of 5% during (2020 - 2026).
Asia-Pacific emerged as the leading region in the smart cards market. The reliable financial system is majorly digitized and government authorities are implementing smart chip-based systems for improved tracking of various processes are encouraging numerous APAC nations to use these smart card solutions. This is due to the rising demand, particularly in sectors like BFSI, transportation, government, retail, and healthcare. There is a wide usage of smart cards in purchasing tickets for buses, metros, and ferries, among others, in numerous nations in APAC. China is anticipated to register the largest demand for smart cards in this region due to the huge consumer base and the presence of major smart card manufacturers.
Full Report: https://www.kbvresearch.com/smart-card-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Thales Group S.A., CPI Card Group (Parallel49 Equity), Assa Abloy AB, Giesecke & Devrient GmbH, IDEMIA SAS (Advent International, Inc.), Inteligensa, CardLogix Corporation, Watchdata Co., Ltd., Eastcompeace Technology Co., Ltd (Potevio Group), and ABCorp (American Banknote Corporation).
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