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[English Market Research Report] Smart Card Market

[English Market Research Report] Smart Card Market

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According to the latest report by Grand View Research, Inc., the global market size for smart cards is expected to reach 21.73 billion U.S. dollars by 2030. The market is projected to grow at a CAGR of 5.7% from 2023 to 2030. Smart payment cards play a crucial role in various areas, including credit cards and various payment cards. They are particularly adopted in situations where secure and fast transactions are required, as well as the protection of personal data. This includes credit cards, various types of payment cards, government identification cards, corporate identification cards, and transportation fare payment cards. Furthermore, these cards also serve as legal documents, such as e-passports and visas. Several key factors significantly influence the growth of the market.

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【English Market Research Report】Global Market for EMV Smart Cards

【English Market Research Report】Global Market for EMV Smart Cards

Global EMV Smart Cards Market

The global market for EMV smart cards was valued at approximately 5.8 billion USD in 2021 and is expected to grow at a healthy growth rate of over 9.7% during the forecast period from 2022 to 2029. EMV smart cards refer to payment cards (debit and credit cards) equipped with smart chips. EMV stands for Europay, MasterCard, and Visa, and it is a security technology used globally for all transactions conducted with EMV smart cards, including credit cards, debit cards, and prepaid cards. These cards store data on integrated circuits and magnetic stripes. Smart cards can be either cards that are physically inserted into a reader or contactless cards that can be used from a short distance using radio frequency identification (RFID) technology. The advancement of cashless transactions worldwide, the increasing elderly population, and the strategic efforts of major companies are key factors accelerating market growth.

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