Smart Card Materials Market is Projected To Grow Moderately at 3.7% CAGR through 2025
Increasing demand for secure and reliable payment transactions is one of the primary growth stimulants for the market.
(firmenpresse) - The global smart card materials market size is expected to reach USD 1.29 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 3.7% during the forecast period. Increasing demand for secure and reliable payment transactions is one of the primary growth stimulants for the market. In addition, cost saving schemes for merchants of payment brands and growing inclinations towards cashless payments are further stimulating the growth of the market.
Several materials, such as polyvinyl chloride (PVC), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate glycol (PETG), paper, PVC & ABS blends, holographic foil, teslin, and biopolymers such as polylactic acid (PLA), are used for manufacture of card body. In early days, the smart card industry used paper as one of the preferred materials for production. However, in the past few years, plastic materials have almost made paper materials obsolete.
Significant technological advancements, IT revolution, e-governance, and digitization happening across the world are leading to an increase in adoption of smart cards in various end-use sectors. These sectors include banking, financial services and insurance (BFSI), healthcare, government, retail, telecommunication, and hospitality. A broad range of smart cards, including membership cards, government ID cards, gift cards, loyalty cards, access cards, and debit/credit cards, is used in the aforementioned sectors.
Several factors such as personalization, selection of material, operational accuracy, data integrity, easy implementation, and top-level security are taken into consideration while manufacturing smart cards in order to fulfill requirements of end users. Manufacturing of smart cards can be distinguished based on application and technical/physical properties required.
To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-card-materials-market
Further key findings from the report suggest:
Polycarbonate is projected to emerge as the fastest growing material segment and is expected to register a CAGR of 4.4% between 2018 and 2025
The polyvinyl carbonate (PVC) segment will continue to be the largest material segment over the forecast period
The Asia Pacific market is projected to experience the fastest growth over the same period owing to rising demand from various application sectors, especially from telecommunication and BFSI.
Key players include SK Chemicals, KEM One, SABIC Innovative Plastics, 3A Composites GmbH, LG Chemicals, and Formosa Plastics Group.
Grand View Research has segmented the global smart card materials market on the basis of material, type, application, and region:
Smart Card Material Outlook (Revenue, USD Million; 2014 - 2025)
Polyvinyl Chloride (PVC)
Polycarbonate (PC)
Acrylonitrile Butadiene Styrene (ABS)
Polyethylene Terephthalate-Glycol (PETG)
Others
Smart Card Materials Type Outlook (Revenue, USD Million, 2014 - 2025)
Contact Cards
Contactless Cards
Multi-Component Cards
Smart Card Materials Application Outlook (Revenue, USD Million, 2014 - 2025)
BFSI
Government
Telecommunication
Retail
Healthcare
Hospitality
Others
Smart Card Materials Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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Datum: 20.09.2019 - 11:34 Uhr
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News-ID 599232
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