Market Overview:
The global smart payment cards market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for contactless smart payment cards and the rising adoption of digital payments. Based on type, the global smart payment cards market is segmented into contact-based smart payment cards and contactless smart payment cards. The contact-based Smart Payment Cards segment is expected to account for a larger share of the global market in 2018. However, the Contactless Smart Payment Cards segment is projected to grow at a higher CAGR during the forecast period owing to its growing popularity among consumers due to its convenience and security features. Based on application, banking, financial services, and insurance; government and healthcare; transportation; retail; and others are segments of the global Smart Payment Cards Market . Among these segments, banking sector accounted for majority share in 2017 owing increased use of plastic money by consumers as well as merchants across different geographies worldwide coupled with rising trend of cashless transactions.
Product Definition:
A smart payment card is a plastic card that contains an embedded microchip and antenna, which allows the card to communicate with a payment terminal. The chip stores account information, which can be used to make purchases or withdraw cash. Smart payment cards are also known as EMV cards, after the global standard for smart payments (EMV).
The use of smart payment cards has exploded in recent years, as they offer enhanced security and convenience over traditional magnetic stripe cards. In addition to being accepted at more merchants around the world, EMV cards can also be used for contactless payments (i.e., payments made without physically touching the card to the terminal). This is because EMV chips support near-field communication (NFC) technology, which enables devices such as smartphones and tablets to wirelessly transmit data.
Contact-based Smart Payment Cards:
The global contact-based smart payment cards market size was valued at USD 2.6 billion in 2015 and is expected to witness significant growth over the forecast period. The major factor that propels the growth of this industry includes increasing demand for contactless payments across various end-use industries such as retail, hospitality, transportation & logistics, healthcare & life sciences, and others.
Contactless Smart Payment Cards:
The contactless smart payment cards are the electronic devices, which can be used for making secure purchases without any physical contact. These cards have a embedded microchip that allows buyers to make secure payments by tapping the card against an NFC-enabled device or entering a PIN code on the device. The major benefit of these payment cards is that there is no need to touch it during transaction process, thereby eliminating frauds and other security issues associated with traditional plastic money/checkout lanes.
Application Insights:
The banking application segment led the global smart payment cards market in 2017. The segment is projected to expand further at a steady CAGR over the forecast period owing to various advantages offered by these cards, such as fast and secure transactions. Contactless payment technology allows customers to pay without entering data or swiping their cards. This reduces transaction time as well as efforts required for authentication procedures, resulting in increased acceptance of this technology by retailers and restaurants across the globe.
The transportation application segment is expected to witness significant growth over the forecast period owing to increasing adoption of contactless payment technologies for purchasing railway tickets and obtaining access on board trains, buses, metros etc., Increasing use of mobile payments has resulted in reduced paper-based ticketing documents which are subsequently saved both time and resources consumed during processing & printing of same.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing smartphone penetration, rising adoption of mobile payments, and favorable government initiatives. For instance, China has been implementing various government policies for promoting digital payment systems in order to improve its economy. In addition, Japan has launched a new initiative named as “Cashless Society†which aims at reducing dependency on cash transactions by 2030. Such initiatives are expected to boost the regional market growth over the forecast period.
North America is anticipated to witness significant growth during the forecast years owing to growing popularity of contactless smart payment cards across several countries such as U.S., Canada, and Mexico among others; whereas demand for traditional magnetic-stripe based credit/debit cards remains high in this region despite declining usage rates since 2010s (Magnetic Stripe Initiative).
Growth Factors:
- Increasing demand for contactless payments: The global market for contactless payments is expected to grow at a CAGR of more than 31% during the forecast period. This is mainly due to the increasing demand for convenience and security in payment transactions. Smart payment cards offer both these features, which is why they are becoming increasingly popular among consumers.
- Proliferation of mobile wallets: Smartphones are becoming an integral part of our lives and this is reflected in the way we pay for things as well. Mobile wallets are gaining popularity because they make it easy to pay for goods and services with just a few taps on your phone screen. This helps reduce the time taken for transactions and also eliminates the need to carry cash or cards around with you all the time.
- Rising adoption of digital currencies: Bitcoin and other digital currencies are slowly but surely gaining acceptance among consumers worldwide. This can be attributed to their ease of use as well as their security features compared to traditional forms of currency such as cash or cheques . As more people start using digital currencies, there will be an increased demand for smart payment cards that support these modes of payment too .
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Payment Cards Market Research Report
By Type
Contact-based Smart Payment Cards, Contactless Smart Payment Cards
By Application
Banking, Financial Services, and Insurance, Government and Healthcare, Transportation, Retail, Others
By Companies
ABnote, CPI Card, Gemalto, Giesecke & Devrient, IDEMIA, Perfect Plastic Printing, Tianyu, Goldpac, Hengbao, Watchdata Technologies, Valid, Kona I, Wuhan Tianyu, Eastcompeace
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
209
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Smart Payment Cards Market Report Segments:
The global Smart Payment Cards market is segmented on the basis of:
Types
Contact-based Smart Payment Cards, Contactless Smart Payment Cards
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Banking, Financial Services, and Insurance, Government and Healthcare, Transportation, Retail, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABnote
- CPI Card
- Gemalto
- Giesecke & Devrient
- IDEMIA
- Perfect Plastic Printing
- Tianyu
- Goldpac
- Hengbao
- Watchdata Technologies
- Valid
- Kona I
- Wuhan Tianyu
- Eastcompeace
Highlights of The Smart Payment Cards Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Contact-based Smart Payment Cards
- Contactless Smart Payment Cards
- By Application:
- Banking, Financial Services, and Insurance
- Government and Healthcare
- Transportation
- Retail
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Payment Cards Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Payment Cards are a type of prepaid card that allow consumers to make purchases using their mobile devices. The cards typically have a magnetic strip and an embedded chip, which allows them to be used in place of traditional payment methods such as cash or debit cards. They can also be used for online transactions and at participating merchants.
Some of the key players operating in the smart payment cards market are ABnote, CPI Card, Gemalto, Giesecke & Devrient, IDEMIA, Perfect Plastic Printing, Tianyu, Goldpac, Hengbao, Watchdata Technologies, Valid, Kona I, Wuhan Tianyu, Eastcompeace.
The smart payment cards market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Payment Cards Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Smart Payment Cards Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Smart Payment Cards Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Smart Payment Cards Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Smart Payment Cards Market Size & Forecast, 2020-2028 4.5.1 Smart Payment Cards Market Size and Y-o-Y Growth 4.5.2 Smart Payment Cards Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Contact-based Smart Payment Cards
5.2.2 Contactless Smart Payment Cards
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Banking
6.2.2 Financial Services
6.2.3 and Insurance
6.2.4 Government and Healthcare
6.2.5 Transportation
6.2.6 Retail
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Payment Cards Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Payment Cards Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Contact-based Smart Payment Cards
9.6.2 Contactless Smart Payment Cards
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Banking
9.10.2 Financial Services
9.10.3 and Insurance
9.10.4 Government and Healthcare
9.10.5 Transportation
9.10.6 Retail
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Contact-based Smart Payment Cards
10.6.2 Contactless Smart Payment Cards
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Banking
10.10.2 Financial Services
10.10.3 and Insurance
10.10.4 Government and Healthcare
10.10.5 Transportation
10.10.6 Retail
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Contact-based Smart Payment Cards
11.6.2 Contactless Smart Payment Cards
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Banking
11.10.2 Financial Services
11.10.3 and Insurance
11.10.4 Government and Healthcare
11.10.5 Transportation
11.10.6 Retail
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Contact-based Smart Payment Cards
12.6.2 Contactless Smart Payment Cards
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Banking
12.10.2 Financial Services
12.10.3 and Insurance
12.10.4 Government and Healthcare
12.10.5 Transportation
12.10.6 Retail
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Contact-based Smart Payment Cards
13.6.2 Contactless Smart Payment Cards
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Banking
13.10.2 Financial Services
13.10.3 and Insurance
13.10.4 Government and Healthcare
13.10.5 Transportation
13.10.6 Retail
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Payment Cards Market: Competitive Dashboard
14.2 Global Smart Payment Cards Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABnote
14.3.2 CPI Card
14.3.3 Gemalto
14.3.4 Giesecke & Devrient
14.3.5 IDEMIA
14.3.6 Perfect Plastic Printing
14.3.7 Tianyu
14.3.8 Goldpac
14.3.9 Hengbao
14.3.10 Watchdata Technologies
14.3.11 Valid
14.3.12 Kona I
14.3.13 Wuhan Tianyu
14.3.14 Eastcompeace