Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

How has the smart card market grown over the years?

In recent times, there has been a robust enlargement of the smart card market. Its progression is projected to leap from $22.75 billion in 2024 to $24.83 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. Various factors contributing to this substantial growth during the historic time span include escalating worries over cybersecurity, governmental schemes, the propagation of financial inclusion, and the tendency towards contactless payments.

What Is the forecasted market size and growth rate for the smart card market?

In the coming years, the smart card market is predicted to witness significant expansion, achieving a net worth of $36.1 billion in 2029 with a compound annual growth rate (CAGR) of 9.8%. This expected surge during the forecast period can be credited to the rise of mobile and wearable technologies, biometric authentication, smart city initiatives, e-commerce, and online transaction systems, alongside government-sponsored digital activities. Key trends to watch during this forecast period include quick uptake in the healthcare sector, integration with blockchain, eco-friendly and sustainable smart cards, and increased focus on customization and personalization.

Get your smart card market report here!

https://www.thebusinessresearchcompany.com/report/smart-card-global-market-report

What are the major factors driving growth in the smart card market?

The boost in contactless payments is projected to considerably fuel the smart card market’s expansion. The rise in social distancing during the COVID_19 pandemic triggered a fast move towards digitalization in every sphere. This enormous progress in digitalization and e-commerce services caused the transition to contactless payment from various platforms to speed up. For example, Barclays plc, a bank based in England, reported in February 2023 that the total value of contactless payments increased by 49.7% in 2022, with the average user making 220 transactions, contrasting to 180 in 2021. Consequently, the escalating demand for contactless payments will propel the smart card market’s growth.

What key areas define the segmentation of the global smart card Market?

The smart card market covered in this report is segmented –

1) By Type: Contact, Contactless, Hybrid, Dual-Interface

2) By Access: Physical, Logical

3) By Component: Memory-Based, Microcontroller-Based

4) By End Use: Government, Healthcare, Transportation, Telecommunication, Financial Services, Retail And Loyalty, Entertainment, Energy And Utility

Subsegments:

1) By Contact: Chip-Based Contact Cards, SIM Cards

2) By Contactless: RFID Cards, NFC Cards

3) By Hybrid: Multi-Application Cards, Cards With Mixed Functionalities

4) By Dual-Interface: Cards Supporting Both Contact And Contactless Communication

Get your free sample now – explore exclusive market insights:

https://www.thebusinessresearchcompany.com/sample.aspx?id=7028&type=smp

What are the top market players propelling the growth of the smart card industry?

Major companies operating in the smart card market include CardLogix Corporation, CPI Card Group – Colorado Inc., Giesecke & Devrient GmbH, IDEMIA, Infineon Technologies AG, ABCorp Corporation, Bartronics India Limited, BrilliantTS. co. Ltd., Bundesdruckerei GmbH, CardCom Technology, Eastcompeace Smart Card Co. Ltd., HID Global Corporation, Identiv Inc., Ingenico SA, Intelcav Cartões Ltda., Inteligensa Group, Kona M Co. Ltd., NXP Semiconductors Austria GmbH Co. & KG, Perfect Plastic Printing Corp., Samsung Electronics Co. Ltd., Secura Key, Sony Corporation, Square Inc., Thales Group, Valid S. A., VeriFone Inc., Watchdata Technologies Ltd., Taglio LLC, Cardzgroup Ltd.

What are the key trends shaping the future of the smart card market?

The upward trajectory in the smart card market is primarily driven by advancements in technology. The primary objective of major market players is to deliver products that are at the forefront of technological innovation, which in turn solidifies their standing in the market. These firms are integrating state-of-the-art smart card technologies into their offerings, such as advanced memory technology, RFID, NFC, integrated circuits, Bluetooth tags, Wi-Fi RTLS among others. These enhancements not only ensure security and privacy but also offer ease of use. A noteworthy example is the launch of the ACR40U Standard Contact Smart Card Reader and the ACR40U Premium Contact Smart Card Reader by the Hong-Kong based tech firm, Advanced Card Systems Ltd. (ACS), specialized in smart card technology, during January 2024. Particularly, the ACR40U Standard Reader is highly suitable for secure financial transactions, making it an ideal choice for ATMs and point-of-sale terminals. It’s also extensively used for secure identification in a range of sectors like banking, government and is a crucial part of access control systems for user verification.

Unlock exclusive market insights – purchase your research report now for a swift delivery!

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7028

What regions are dominating the smart card market growth?

Asia-Pacific was the largest region in the smart card market in 2024. The regions covered in the smart card market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Browse Through More Similar Reports By The Business Research Company:

Prepaid Card Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/prepaid-card-global-market-report

Credit Card Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/credit-card-global-market-report

Lending And Payments Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/lending-and-payments-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: