Banking Smart Card Market By Type ( Contact, Contactless ), By Application ( EMV, Non-EMV ), Estimation & Forecast, 2017 - 2022

January 2018

 Pages: 175

 ERC 7162


Banking Smart Card Market was valued at $3.94 billion in 2016 and is expected to grow with a CAGR of 12.6% during the forecast period of 2017 to 2022. The EMV segment garnered the highest revenue share in the global banking smart card market.

A smart card is any pocket-sized card that has embedded integrated circuits. Smart card- enabled applications are becoming more prevalent in various sectors. The banking and financial sector requires a highly secure authentication and verification technology that is least affected by security threats and bank forgery, as it deals with critical data and information. As per the data reported by International Card Manufacturing Association, in 2012, the credit and debit card fraud resulted in losses of $11.27 billion. Retailers and financial institutions incurred a loss of approximately $580.5 million and $955 million respectively. This propelled the drift of financial payments industry towards smart cards. The rising need for a high level of data and identity security in the banking and financial industry aids in the growth of baking smart cards market. Globally, major chunks of regional financial organizations have mandated that financial credit and debit cards must be smart card-enabled. Moreover, the rising trend for fast, convenient and secure credit & debit payment has accelerated the acceptance of contactless smart card technology.

Market Determinants

The global banking smart card market has witnessed notable growth in the recent years. The increasing trend of cashless transactions is the key market determinant fueling the growth of global banking smart card market. Moreover, the need for secure authentication and verification technology to overcome the security threats in the financial and banking sector is also a prime determinant driving the market growth. In addition, majority of regional financial organizations have mandated that financial credit and debit cards must be smart card-enabled.


Banking Smart Card Market

Segment Analysis

The global banking smart card market is segmented on the basis of type, application, and geography. By type, the market is segmented into contact cards, contactless cards, and both. On the basis of application, the market is segmented into EMV and Non- EMV. Geography wise, the market is segmented into United States, China, Europe, Japan, South Korea, and Taiwan. United States was the largest revenue generator in the banking smart cards market, in 2016, by holding nearly 30% of the global market share. However, China is anticipated to lead the market during the forecast period and grow with the highest CAGR of 15.1%. Moreover, the developing economies like South Korea and Taiwan are also growing with impressive growth rates during the forecast period 2017-2022.


Banking Smart Card Market

Some prominent market players are Gemalto, Giesecke & Devrient, Morpho, American Express, ARM, Bell ID, CardLogix, DataCard, HID Global, Infineon Technologies, MasterCard, Smart Card IT Solutions, and Visa. In order to gain a competitive edge over their peers in the market and expand the business, the market giants are focusing on mergers & acquisitions, joint ventures, and partnerships as their main growth strategies. In order to accelerate access to complementary businesses, new geographies and adjacent markets, the market leaders are investing in acquisitions and mergers. In such a competitive market environment, it would be impossible to build all the capabilities as markets and technologies change too quickly. As gaps or opportunities emerge, mergers and acquisitions play a vital part in the rapid-response strategy required to build the necessary capability or capacity.

Banking Smart Card Market Segmentation

By Type
   • Contact
   • Contactless
   • Both

By Application
   • EMV
   • Non-EMV

By Geography
   • United States
   • China
   • Europe
   • Japan
   • South Korea
   • Taiwan

Banking Smart Card Market Key Players

   • Gemalto
   • Giesecke & Devrient
   • Morpho
   • American Express
   • ARM
   • Bell ID
   • CardLogix
   • DataCard
   • HID Global
   • Infineon Technologies
   • MasterCard
   • Smart Card IT Solutions
   • Visa

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    • What was the market size of the banking smart card market in 2012 and the expected market size by 2022, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
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