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Smart Cards Market To Witness Steady Growth By 2025 Due To Its Demand In Applications Such As Payment Transactions, Cell Phones, ID Verification & Access Controls | Grand View Research, Inc.

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Smart Cards Market To Witness Steady Growth By 2025 Due To Its Demand In Applications Such As Payment Transactions, Cell Phones, ID Verification & Access Controls | Grand View Research, Inc.

April 05
22:58 2021
Smart Cards Market To Witness Steady Growth By 2025 Due To Its Demand In Applications Such As Payment Transactions, Cell Phones, ID Verification & Access Controls | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, the rising demand for the product is supposed to favor market growth over the forecast period via various applications, such as payment transactions, mobile phones, ID authentication, and access controls. In the backdrop of a COVID-19 pandemic that requires minimal social contact and social distancing, contactless payment grew rapidly while buying groceries or any household items. Thereby boosting the global smart cards market.

The global smart cards market size is predicted to reach USD 15.4 billion by 2025, expanding at a CAGR of 7.9%. Smart cards are used in a variety of applications, including shopping, banking, government, and hospitality, and are expected to drive consumer demand by allowing more efficient data collection, payment processes, and processing time. Over the forecast period, the demand will be driven by the growing use of smart cards in the telecommunications and BFSI sectors. Their use in retail applications allows for safer purchases and opens new business possibilities.

Smart cards are commonly used to facilitate safe payment transfers and encourage cashless payments, allowing payment retailers to save money while offering convenience to customers. The use of cell phones and IoT devices has increased the market for SIM and data chips, resulting in increased demand for the commodity. These systems are becoming more popular in retail applications to allow for quicker sales and shorter checkout times. These benefits would enable the industry to expand at a substantial pace over the forecast period. 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/smart-card-industry

Smart Cards Market Report Highlights

 On the basis of type, the contact type segment dominated the overall market and was valued at USD 4,675.6 million in 2015 and is anticipated to grow phenomenally over the forecast period.

The microcontroller-based segment accounted for over 70% of the overall smart cards market in 2015.

The telecommunication application segment dominated the overall market in 2015 and accounted for over 46% of the market in the same year.

In June 2020, the Macao government provided contactless prepaid payment cards pre-loaded with credit to alleviate the economic effects of the COVID-19 pandemic and to provide financial assistance to its residents.

Get Sample Copy Of This Report @ https://www.grandviewresearch.com/industry-analysis/smart-card-industry/request/rs1

Smart Cards Market Segmentation

Grand View Research has segmented the global smart cards market based on type, component, application and region:

Smart Cards Type Outlook (Revenue, USD Million; 2014 – 2025)

     Contact cards
     Contactless cards
     Multi-component cards

Smart Cards Component Outlook (Revenue, USD Million; 2014 – 2025)

     Memory-based
     Microcontroller-based

Smart Cards Application Outlook (Revenue, USD Million; 2014 – 2025)

     BFSI
     Government
     Telecommunications
     Retail
     Healthcare
     Hospitality
     Others

Smart Cards Regional Outlook (Revenue, USD Million; 2014 – 2025)

     North America
    • Europe
        • Russia
     Asia Pacific
    • Rest Of the World

List of Key Players of Smart Cards Market

    • American Express Company
    •
Atos SE
    •
CPI Card Group
    •
Gemalto N.V.
    •
Giesecke & Devrient (G&D) GmbH
    •
Infineon Technologies AG
    •
INSIDE Secure SA
    •
NXP Semiconductor Inc.
    •
Texas Instruments Inc.

Speak to Analyst @ https://www.grandviewresearch.com/inquiry/125/ibb

About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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