Smart Card Market Size to reach $19.87 Bn by 2028: COVID Impact, Opportunities, Trends and Forecast

Release Month: April 2021

Evolve Business Intelligence, today has published a new market research report on “The global Smart Card market was estimated to be $13.30 billion in 2020 and is anticipated to grow at a CAGR of 4.86% from 2021 to 2028”

For more information on the report: https://evolvebi.com/product/smart-card-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Smart Card market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the Smart Card market report also includes the following data points:

  • COVID19 Impact on Smart Card market size
  • End-User/Industry/Application Trend, and Preferences
  • Government Policies/Regulatory Framework
  • Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
  • Opportunity in Smart Card market

Analyst View
According to Parimal, Principal Analyst, Evolve Business Intelligence, “the awareness about the benefit of tap and pay had increased in the pandemic. The usage of contactless payment had increased in COVID to reduce the spread of virus. Peoples are focusing more on using contactless delivery and payment to reduce the chance of getting infected and in turn impacting the smart card market positively.”

Competitive Scenario
Some of the major Smart Card players holding high market share include Thales, Idemia, Giesecke, and CPI card group. These players use collaboration and expansion as a key strategy to gain significant market share to compete with market leaders.

Segmental Analysis
Smart Card market is analyzed across the below-mentioned segments:

  • Offering
    • Smart Card
    • Smart Card Readers
  • Vertical
    • BFSI
    • Telecommunications
    • Education
    • Retail
  • Type
    • Memory
    • MPU Microprocessor

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the Smart Card market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:

  • Thales Group
  • IDEMIA
  • Giesecke + Devrient GmBH
  • CPI Card Group
  • HID Global Corporation
  • Watchdata
  • Eastcompeace
  • Inteligensa
  • ABCorp
  • CardLogix

To request a free sample report, click on the “Request Sample PDF” button on https://evolvebi.com/product/smart-card-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trademap, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants’ financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives

  • To define, describe, and forecast the Smart Card market, in terms of value, segmented on the basis of indication, type, technology, and geography
  • To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
  • To provide detailed information regarding drivers, restraints, and opportunities, in the Smart Card market
  • To provide an overview of the value chain analysis pertaining to the Smart Card industry
  • To strategically analyze each segment and subsegment with respect to individual overall growth trends and their contribution to the overall Smart Card market
  • To analyze opportunities in the market by identifying high-growth segments of the Smart Card market
  • To profile key players in the Smart Card market and comprehensively analyze their core competencies
  • To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global Smart Card market

 

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