EMV Card Market size was valued at US$ 13.9 Bn. in 2021 and the total EMV Card revenue is expected to grow at 4.2 % through 2022 to 2027, reaching nearly US$ 17.79 Bn.
EMV Card Market Overview:EMV (Euro pay Mastercard and Visa) cards are smart cards also known as chip cards, integrated circuit cards, or IC cards that store data on integrated circuit chips as well as magnetic stripes for backward compatibility. EMV is a payment technique that is based on the technical standard for smart payment cards and automated teller machines. There are three varieties of EMV chip cards on the market: contactless, dual interface, and standard. Cards need to manually inserted or "dipped" into a reader that may be read over a short distance using near-field communication technology. EMV smart cards are widely utilised in applications such as credit cards and other forms of payment cards, corporate and government identity cards, and transit fare payment cards that need quick, secure transactions while protecting personal information. EMV smart cards are used as documents on occasion, such as electronic passports and visas. As a result, the increased demand for EMV smart cards is likely to drive market expansion in the coming years. To know about the Research Methodology :- Request Free Sample Report In this report, the EMV Card market's growth reasons, as well as the market's many segments (Interface, Functionality, Vertical, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the EMV Card market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global EMV Card market situation.
EMV Card Market Dynamics:Reasons for driving the EMV card market The fundamental advantage of EMV card technology is that it considerably reduces the possibility of fraud that making both online and offline transactions much safer for users. While data from a traditional magstripe card may be easily copied just using a card reading device, the new EMV technology prevents this. A recent Card Hub article collected some surprising facts concerning credit and debit card fraud. EMV chip cards holds much more information than magnetic stripe cards. As a consequence, the cards become more representative of personality. There is a better way to identify that the proper individual is using the appropriate card with the relevant personal information recorded on the card. They could also function for longer periods of time. These factors fueling the growth of EMV card market during the forecast period. Restraint for the EMV market EMV card transactions are quick but sometimes they take a few seconds longer to complete the transaction. Customers may become irritated as a result of this. Furthermore, the presence of magnetic stripes in EMV cards that contain static information and can be simply duplicated by fraudsters is likely to restrict the growth of the Global EMV Card Market throughout the forecast period. However, fast technical improvement in the EMV card is expected to overcome these restraints in the future years.
EMV Card Market Segment Analysis:By Interface, the contactless segment is expected to account for the majority of the market during the forecast period. A contactless smart card consists of an integrated smart card secure microcontroller or equivalent intelligence, internal memory, and a micro antenna that connects with readers through a contactless radio frequency (RF) interface. Contactless smart card applications are generally served by radio-frequency identification (RFID) or near-field communication (NFC) communication technologies. COVID-19 is having a positive influence on the contactless smart card market since the Globe Health Organization (WHO) and governments across the world are promoting the usage of contactless smart cards for a variety of reasons in order to achieve social distancing and prevent the virus's spread. Contactless EMV cards provide ease, speed, and convenience to users. The contactless interface has become more important nowadays, particularly for payment applications owing to its safe and secure transactions without physical touch. By Functionality, the telecommunications segment is anticipated to have the greatest share of the smart card market during the forecast period. A subscriber identity module (SIM) card is a form of smart card with a microprocessor that is used in mobile phones and other devices. A SIM card identifies and verifies a wireless cell phone network subscriber. In 2020, the telecoms segment held the largest share of the smart card market, account for 46 % of the market share. The market is growing as the global mobile network increases and its infrastructure develops. Furthermore, COVID-19 raised the demand for connectivity. The current crisis has accelerated the trend of digitization of commercial and private communication through mobile communication as well as the increasing use of digital conferences. EMV cards makes retail transactions easier by allowing users to safely save relevant information about purchases. For example, the EMV smart card maintains personal account information such as credit balances, as well as user preferences and purchasing trends. EMV cards can be used for micropayments as well as expense management.
EMV Card Market Regional Insights:APAC region has the largest market for EMV cards and is expected to lead the market in near future. The robust financial system that is increasingly being digitized, as well as government agencies incorporating smart chip-based systems for better process monitoring are driving several APAC regions to adopt smart card solutions in response to rising demand, particularly in the transportation, BFSI, retail, government, and healthcare sectors. In some APAC regions, EMV cards are used to pay tickets for metros, buses, and ferries, among other modes of transportation. China is expected to have the biggest demand for EMV smart cards owing to its enormous customer base and the existence of a number of smart card manufacturers in this region. EMV cards correctly implemented in all sectors have shown to be extremely useful in preventing fraud and theft. Government projects such as India's Aadhar card has driven the demand for EMV cards in a variety of sectors. Furthermore, security concerns, particularly in the public domain are projected to boost the growth of the Asia Pacific EMV card market during the forecast period. The objective of the report is to present a comprehensive analysis of the EMV Card market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the EMV Card market dynamics, structure by analyzing the market segments and project the EMV Card market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the EMV Card market make the report investor’s guide.
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Global EMV Card Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2027 Historical Data: 2017 to 2021 Market Size in 2021: US $ 13.9 Bn. Forecast Period 2022 to 2027 CAGR: 4.2 % Market Size in 2027: US $ 17.79 Bn. Segments Covered: by Interface • Contact • Contactless • Dual by Functionality • Transaction • Communication • Security & Access Control by Vertical • BFSI • Telecommunications • Government and Healthcare • Education • Retail • Transportation • Others
EMV Card Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
EMV Card Market Key Players• ABCorp • CPI Card Group • Gem alto • Giesecke & Devrient • Morpho (Safran) • Oberthur Technologies • Versatile Card Technology Ingenico • PAX Technology • SZZT Technology • VeriFone • ATOS World line • Cyber Net • Equinox • Fiserv Inc. • Keycorp • NCR • Spire Payments • Hengbao • Watch data systems Co. Ltd • Gold Pac • Others FAQs: 1. Which is the potential market for the EMV Card in terms of the region? Ans. In APAC region, the robust financial system that is increasingly being digitized, as well as government agencies incorporating smart chip-based systems for better process monitoring are driving the EMV Card market in terms of the region. 2. What is expected to drive the growth of the EMV Card market in the forecast period? Ans. A major driver in the EMV Card market is the fundamental advantage of EMV card technology is that it considerably reduces the possibility of fraud that making both online and offline transactions much safer for users. 3. What is the projected market size & growth rate of the EMV Card Market? Ans. EMV Card Market size was valued at US$ 13.9 Bn. in 2021 and the total EMV Card revenue is expected to grow at 4.2 % through 2022 to 2027, reaching nearly US$ 17.79 Bn. 4. What segments are covered in the EMV Card Market report? Ans. The segments covered are Interface, Functionality, Vertical, and Region.
1. Global EMV Card Market: Research Methodology 2. Global EMV Card Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global EMV Card Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global EMV Card Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global EMV Card Market Segmentation 4.1 Global EMV Card Market, by Interface (2022-2027) • Contact • Contactless • Dual 4.2 Global EMV Card Market, by Functionality (2022-2027) • Transaction • Communication • Security & Access Control 4.3 Global EMV Card Market, by Vertical (2022-2027) • BFSI • Telecommunications • Government and Healthcare • Education • Retail • Transportation • Others 5. North America EMV Card Market (2022-2027) 5.1 North America EMV Card Market, by Interface (2022-2027) • Contact • Contactless • Dual 5.2 North America EMV Card Market, by Functionality (2022-2027) • Transaction • Communication • Security & Access Control 5.3 North America EMV Card Market, by Vertical (2022-2027) • BFSI • Telecommunications • Government and Healthcare • Education • Retail • Transportation • Others 5.4 North America EMV Card Market, by Country (2022-2027) • United States • Canada • Mexico 6. Europe EMV Card Market (2022-2027) 6.1. European EMV Card Market, by Interface (2022-2027) 6.2. European EMV Card Market, by Functionality (2022-2027) 6.3. European EMV Card Market, by Vertical (2022-2027) 6.4. European EMV Card Market, by Country (2022-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific EMV Card Market (2022-2027) 7.1. Asia Pacific EMV Card Market, by Interface (2022-2027) 7.2. Asia Pacific EMV Card Market, by Functionality (2022-2027) 7.3. Asia Pacific EMV Card Market, by Vertical (2022-2027) 7.4. Asia Pacific EMV Card Market, by Country (2022-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa EMV Card Market (2022-2027) 8.1 Middle East and Africa EMV Card Market, by Interface (2022-2027) 8.2. Middle East and Africa EMV Card Market, by Functionality (2022-2027) 8.3. Middle East and Africa EMV Card Market, by Vertical (2022-2027) 8.4. Middle East and Africa EMV Card Market, by Country (2022-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America EMV Card Market (2022-2027) 9.1. South America EMV Card Market, by Interface (2022-2027) 9.2. South America EMV Card Market, by Functionality (2022-2027) 9.3. South America EMV Card Market, by Vertical (2022-2027) 9.4 South America EMV Card Market, by Country (2022-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 ABCorp 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 CPI Card Group 10.3 Gem alto 10.4 Giesecke & Devrient 10.5 Morpho (Safran) 10.6 Oberthur Technologies 10.7 Versatile Card Technology Ingenico 10.8 PAX Technology 10.9 SZZT Technology 10.10 VeriFone 10.11 ATOS World line 10.12 Cyber Net 10.13 Equinox 10.14 Fiserv Inc. 10.15 Keycorp 10.16 NCR 10.17 Spire Payments 10.18 Hengbao 10.19 Watch data systems Co. Ltd 10.20 Gold Pac 10.21 Others