The report forecasts the global EMV cards market to grow at a CAGR of 16.9% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Adoption of electronic purses will be a key trend for market growth. An electronic purse is similar to an EMV card. It enables monetary transactions in a manner similar to a credit or debit card. These purses help in eliminating the need to carry cash and help consumers keep their money safe. Adoption of electronic purses is increasing significantly and is expected to support growth in the EMV cards market.
According to the report, one of the key drivers for market growth will be the need for tamper-resistant payment systems. Cards that use magnetic tapes to store users' details can easily be tampered with and the information stored on tapes can be retrieved or destroyed. If these cards are lost or stolen, there are high chances of monetary losses. In contrast, EMV cards are tamper-free as the information is stored on a chip, making it difficult to decode users' details. The customer data stored in these cards are thus more secure.Thus, banks are encouraged to issue EMV cards instead of traditional magnetic tape-based debit and credit cards. These banks are also implementing initiatives to promote the use of EMV cards, as it ensures secure transactions.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- CPI Card
- Giesecke & Devrient
- Oberthur Technologies
- Perfect Plastic Printing
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Impact of banking cards across regions
PART 06: Market landscape
PART 07: Market segmentation by technology
PART 08: Geographical segmentation
PART 09: Summary of key figures
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Buying behavior
PART 16: Vendor landscape
PART 17: Appendix
PART 18: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/mm58cb/global_emv_cards
Research and Markets
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SOURCE Research and Markets