Global Smart Cards Market Strategy Report 2023: Market to Reach $20.7 Billion by 2030 - Smart City Investments Drives Global Demand

DUBLIN, Aug. 1, 2023 /PRNewswire/ -- The "Smart Cards: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Smart Cards Market to Reach $20.7 Billion by 2030

The global market for Smart Cards estimated at US$13.8 Billion in the year 2022, is projected to reach a revised size of US$20.7 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2022-2030.

Telecommunication, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$10.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the BFSI segment is readjusted to a revised 4.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.9 Billion, While China is Forecast to Grow at 6.1% CAGR

The Smart Cards market in the U.S. is estimated at US$1.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$5.6 Billion by the year 2030 trailing a CAGR of 6.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 4.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.7 Billion by the year 2030.

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What's New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Smart Cards - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Impact of Covid-19 and a Looming Global Recession
• COVID-19 Pandemic Spurs Use of Contactless Payment Options
• Global Smart Card Shipments Breakdown by Type: 2018 and 2021
• Smart card: Introduction and Overview
• Benefits
• Smart Cards Vs Magnetic Stripe Cards
• Development of Smart Card
• Smart Cards Categorization Based on Mechanism
• Based on Configuration
• Applications and Usage of Smart Cards
• Market Outlook

MARKET TRENDS & DRIVERS

• COVID-19 Pandemic Drives Demand for Smart Cards for Public Transportation
• Chip Shortage Hits Payment Card Manufactures
• Smart Cards Gain Use for Cryptocurrency Management
• Rise in Adoption of Multiple Application Cards
• Smart Card Technology in Network Security
• Smart Cards Outshine Traditional Legacy & Proximity Cards
• Global Card-Based Access Control Systems by Segment (In %)
• Advancements in Smart Card Readers Drive Adoption
• Smart Card EACS Witness Increasing Application as Attendance Management Tool
• Biometric Smart Cards in Spotlight
• Smart Cards in Healthcare Market
• Need to Restrict Unauthorized Access to Sensitive Areas Drive Demand in Healthcare Establishments
• Growing Need for Interoperability of Smart Cards
• Smart Technology for COVID-19 Vaccination Status in the US
• Contactless Payments in Financial Services Sector Offers Strong Growth Opportunities
• Mobile POS Push Demand for Contactless Cards amid Pandemic
• EMV Compliance Boosts Financial Sector
• Rising Contactless Share in Government Sector
• Telecom: Solid Gains for e-SIMs
• Persistent Demand for Dual and Hybrid Cards
• Potential Growth of Microprocessors Market
• Optimal Usage of Smart Cards in Telecommunication Sector
• Spurt in Online Transactions and Opportunities Ahead
• Smart City Investments Drive Global Demand for Smart Cards
• Global Smart Cities Market in US$ Billion: 2018-2026
• Future of Secure Smart Cards
• Innovation in Payment Cards
• Higher Education Sector: A Key Contributor to Growth

FOCUS ON SELECT PLAYERS (Total 121 Featured)

• Alioth limited
• Bundesdruckerei GmbH
• CardLogix Corporation
• CPI Card Group Inc.
• Fingerprint Cards AB
• Giesecke+Devrient GmbH
• HID Global Corporation
• IDEMIA France SAS
• Identiv, Inc.
• Infineon Technologies AG
• IntelCav Technology and Cards
• KONA I Co. Ltd
• NXP Semiconductors N.V.
• Samsung Electronics Co. Ltd.
• Secura Key
• Thales Group
• Watchdata Technologies Pte. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/2s1fz8

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