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EMV Smart Cards Market Size, Share | Forecast, 2031

The global emv smart cards market was valued at $5.8 billion in 2021, and is projected to reach $14 billion by 2031, growing at a CAGR of 9.7% from 2022 to 2031.

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EMV Smart Cards Market Size, Share | Forecast, 2031

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  1. EMV Smart Cards Market to Reach $14 Billion by 203 | CAGR 9.7%

  2. EMV Smart Cards Market Overview The emv smart cards market was valued at $5.8 billion in 2021, and is estimated to reach $14 billion by 2031, growing at a CAGR of 9.7% from 2022 to 2031. Download Sample Report: Smart EMV chip card technology can store a bulk amount of data as compared to magnetic stripe credit cards. These credit cards can contain encrypted data owing to technology, which helps prevent in-store payment fraud. In addition, the information included in this encrypted data is dynamic, which means it can alter over time. Furthermore, compared to older card technology, EMV smart chip technology is intrinsically more secure. X2 smartcard must be dipped into or waved over a specialized chip reader at the point of sale in place of swiping a magnetic stripe that can be copied.

  3. COVID-19 Impact To promote social distancing and prevent the spread of the pandemic, the usage of EMV smart cards increased to reduce physical contact between people, merchants, and health authorities during the pandemic. Furthermore, the adoption of contactless-capable point-of-sale devices boosted the growth of the EMV smart cards industry. In addition, financial institutions shifted from magnetic stripe card technology to microprocessor or memory chip card technology as a result of consumers' preferences. This eventually fueled the EMV smart cards market growth during the pandemic.

  4. KEY Players American Express CardLogix Corporation CPI Card Group Inc. Equinox Payments Giesecke + Devrient GmbH HID Global Corporation, IDEMIA Infineon Technologies AG JPMorgan Chase & Co. NCR Corporation Perfect Plastic Printing Samsung Thales VeriFone \Versatile Card Technology Pvt. Ltd. Mastercard Visa Inc.

  5. KEY FINDINGS OF THE STUDY On the basis of application, the food & groceries segment accounted for the highest EMV smart cards market share in terms of revenue in 2021. According to type, the credit card segment is expected to exhibit the fastest growth rate in the EMV smart cards market trends. On the basis of region, Asia-Pacific generated the highest revenue in EMV smart cards market in 2021.

  6. EMV Smart Cards Market Report Highlights By Type By Brand By Application

  7. By Region

  8. Contact Us

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