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Global Smart Card Market to reach USD XX billion by the end of 2030

Global Smart Card Market Size study & Forecast, by Product Type (Contact Cards, Contactless Cards, Hybrid Cards, Others), by Application (Banking & Financial Services, Government & Security Systems, Transportation, Schools, Healthcare, Others) and Regional Analysis, 2023-2030

Product Code: ICTH-30251780
Publish Date: 20-05-2023
Page: 200

Global Smart Card Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. The smart card market refers to the industry involved in the design, manufacturing, and distribution of smart cards. A smart card is a plastic card with an embedded chip that can store and process data. These cards are used in various applications, such as banking, healthcare, transportation, government, and telecommunications. The major driving factors for the Global Smart Card Market are increasing demand for secure payment solutions and growing adoption of e-commerce and mobile payments. Moreover, increasing demand for IoT-based applications and rising initiatives by the key market players is creating lucrative growth opportunity for the market over the forecast period 2023-2030.

The global adoption of e-commerce and the increasing number of online shoppers have led to a significant rise in the consumption of smart cards for secure transaction activities during product purchases. Furthermore, the growth of transportation facilities such as airplanes, railways, and buses has created a growing demand for smart cards for user identification purposes. For instance, the Government of Delhi, India distributed smart cards to daily metro commuters in August 2020 for authentication purposes, which could be linked to the mobile application ‘Autope’ to allow users to easily pay for metro ticket fares. The use of IoT-based smart cards in the financial sector is on the rise, with banks and financial institutions adopting smart card technology to provide secure and convenient payment solutions. For instance, in 2020, Mastercard launched an IoT-based payment card called the Mastercard Pay on Demand platform, which allows users to make payments using a virtual card through connected devices such as smartphones and smartwatches. However, the high cost of Smart Card stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Smart Card Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is a dominating market for smart cards, with high adoption rates in various sectors such as banking, healthcare, and government. The market is driven by technological advancements, the increasing demand for secure payment solutions, and the need for identity verification. The United States and Canada are the leading markets in this region. The Asia-Pacific region is a rapidly growing market for smart cards, with high adoption rates in the government, banking, and healthcare sectors. The market is driven by the increasing need for secure payment solutions, the growing adoption of e-commerce and mobile payments, and the increasing government initiatives to promote digitalization. China, India, Japan, and South Korea are the leading markets in this region.

Major market player included in this report are:
Samsung Electronics Co. Ltd.
Sony Corporation
CPI Card Company
Square Inc.
Francisco Partners
Inteligensa Group
Infineon Technologies AG
NXP Semiconductors N.V.
CARD Corporation
Giesecke & Devrient (G&D) GmbH

Recent Developments in the Market:
Ø Onyx CenterSource, a prominent U.S. player, unveiled a virtual smart credit card for its travel and hospitality clients in September 2020. This move aimed to enhance security, reduce inquiries, and improve first contact resolution by enabling the company to closely manage and restrict usage.
Ø IDEMIA, a France-based company specializing in augmented identity, acquired XCore Technologies, a metal payment card manufacturer, in October 2019. This acquisition enabled IDEMIA to expand its product portfolio to include metal-based contactless payment cards.

Global Smart Card Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Product Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Contact Cards
Contactless Cards
Hybrid Cards
By Application:
Banking & Financial Services
Government & Security Systems

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Smart Card Market, by Region, 2020-2030 (USD Billion)
1.2.2. Smart Card Market, by Product Type, 2020-2030 (USD Billion)
1.2.3. Smart Card Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Smart Card Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Smart Card Market Dynamics
3.1. Smart Card Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand for secure payment solutions Growing adoption of e-commerce and mobile payments
3.1.2. Market Challenges High Cost of Smart Card
3.1.3. Market Opportunities Increasing demand for IoT-based applications Rising initiatives of key market players
Chapter 4. Global Smart Card Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Card Market, by Product Type
5.1. Market Snapshot
5.2. Global Smart Card Market by Product Type, Performance – Potential Analysis
5.3. Global Smart Card Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
5.4. Smart Card Market, Sub Segment Analysis
5.4.1. Contact Cards
5.4.2. Contactless Cards
5.4.3. Hybrid Cards
5.4.4. Others
Chapter 6. Global Smart Card Market, by Application
6.1. Market Snapshot
6.2. Global Smart Card Market by Application, Performance – Potential Analysis
6.3. Global Smart Card Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Smart Card Market, Sub Segment Analysis
6.4.1. Banking & Financial Services
6.4.2. Government & Security Systems
6.4.3. Transportation
6.4.4. Schools
6.4.5. Healthcare
6.4.6. Others
Chapter 7. Global Smart Card Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Smart Card Market, Regional Market Snapshot
7.4. North America Smart Card Market
7.4.1. U.S. Smart Card Market Product Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Smart Card Market
7.5. Europe Smart Card Market Snapshot
7.5.1. U.K. Smart Card Market
7.5.2. Germany Smart Card Market
7.5.3. France Smart Card Market
7.5.4. Spain Smart Card Market
7.5.5. Italy Smart Card Market
7.5.6. Rest of Europe Smart Card Market
7.6. Asia-Pacific Smart Card Market Snapshot
7.6.1. China Smart Card Market
7.6.2. India Smart Card Market
7.6.3. Japan Smart Card Market
7.6.4. Australia Smart Card Market
7.6.5. South Korea Smart Card Market
7.6.6. Rest of Asia Pacific Smart Card Market
7.7. Latin America Smart Card Market Snapshot
7.7.1. Brazil Smart Card Market
7.7.2. Mexico Smart Card Market
7.8. Middle East & Africa Smart Card Market
7.8.1. Saudi Arabia Smart Card Market
7.8.2. South Africa Smart Card Market
7.8.3. Rest of Middle East & Africa Smart Card Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Samsung Electronics Co. Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Sony Corporation
8.3.3. CPI Card Company
8.3.4. Square Inc.
8.3.5. Francisco Partners
8.3.6. Inteligensa Group
8.3.7. Infineon Technologies AG
8.3.8. NXP Semiconductors N.V.
8.3.9. CARD Corporation
8.3.10. Giesecke & Devrient (G&D) GmbH
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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