SAN FRANCISCO, Jan. 21, 2020 /PRNewswire/ -- The global banking smart card market is expected to scale new heights in the years to come. This could be credited to the ever-increasing trend of cashless transactions. Besides, secure verification and authentication are the need of the hour. As such, loads of regional monetary organizations are mandating usage of smart card-enabled debit and credit cards.
A smart card comes across as a pocket-sized card embedded with integrated circuits. Banking sector asks for a highly secure verification technology and authentication that gets least affected by bank forgery and security threats. According to International Card Manufacturing Association, debit and credit card fraud incurred losses close to $11.27 billion as of 2012. Since then, financial payments industry has drifted toward smart cards.
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The banking smart card market is segmented on the basis of type, application, vertical, and geography. By type, the market spans contactless, contact, and combination of both. By application, it says financial transactions, communication, transportation, retail and loyalty, government programs, physical access control, information security and others. By vertical, the market comprises healthcare, banking, retail, and others.
By geography, the market of banking smart card constitutes the U.S., Europe, China, South Korea, Japan, and China. Out of them, the U.S. holds the largest market share; followed by China. Plus, emerging economies like Taiwan and South Korea are expected to be the torchbearers in the next 5-7 years. Asia Pacific is doing the rounds due to economic upswing witnessed by economies like China and India. The inordinate implementation of smart cards herein is one of the potential factors driving growth of banking smart card market. MEA is also expected to fall in place soon.
The players contributing to the market of banking smart card include CardLogix, DataCard, masterCard, Infineon Technologies, Giesecke & Devrient, Oberthur Technologies, Morpho, Gemalto, Atmel, American Express, Smart Card IT Solutions, and Bell ID
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- Geographically, global Banking Smart Card market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- On the basis of product, we research the production, revenue, price, market share and growth rate, primarily split into
- For the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Banking Smart Card for each application, including
- Production, consumption, revenue, market share and growth rate are the key targets for Banking Smart Card from 2013 to 2024 (forecast) in these regions
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