1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
Smart Card Market - Growth, Trends, Forecasts (2020 - 2025)

Smart Card Market - Growth, Trends, Forecasts (2020 - 2025)

  • December 2020
  • 133 pages
  • ID: 5891614
  • Format: PDF
  • Mordor Intelligence LLP


Table of Contents

Search Inside

The global smart card market (henceforth, referred to as the market studied) was valued at USD 8.14 billion in 2019, and it is expected to reach USD 11.50 billion by 2025, registering a CAGR of 6.19%, during the period of 2020-2025. The need for security of applications that employ critical information, documents, and credential is leading to an increasing adoption of smart contact-less card technology, as they enhance security through encryption and communication between the smart card device and the card reader. ?

- Apart from this, smart cards are increasingly getting deployed as a tool of stored value, particularly in loyalty programs across various sectors, like transportation, parking, and retail that track data and offer incentives to retain their customer bases.?
- The advent of multifunction cards has made it convenient to manage the network system access and store valuable and other data. In addition, smart cards help in safeguarding the private information of individuals and keeping their informational details safe from hacking and other unwanted intrusions.?
- Smart cards hold tremendous promises in the advanced authentication applications, as smart card coupled with PIN provides two-factor authentication in a much more secure means of authenticating users. ?Technological advancements in the market has witnessed the advent of cards that allow authentication to provide unified access and advanced authentication for physical access to the buildings and computer systems.?
- In September 2019, Standard Chartered Bank launched “DigiSmart” credit card that focusses on the convenience needs of the millennials segment. This credit card has been designed to offer instant benefits across key e-commerce categories of travel, entertainment, fashion, groceries and food delivery throughout the year.?
- Amid the rapidly shifting landscape in the wake of the COVID-19 pandemic, the smart cards are finding increasing deployment in various end-user industries, barring a few, owing to the benefits rendered.?
- With an increasing priority for the healthcare sector as a whole, amid the pandemic, smart cards are assisting the healthcare providers with maintaining the efficiency of patient care and privacy safeguards. These cards allow the safe storage of information pertaining to a patient’s medical history and instantly access the information while also facilitating the provision to update if needed. This will ensure the reduction of health care fraud.

Key Market Trends
Contactless Smart Card is Expected to Drive the Market

- Contactless smart cards differ from contact-based smart cards because the chip is not visible on the card. Instead, the chip and its antenna are embedded within the card’s body. The card is waved over an RFID reader instead of inserted like a contact card. When the contactless card passes through the specifically tuned RFID field, the antenna powers up the chip and relays its information to the application.
- Furthermore, account information is transmitted wirelessly over radio frequency (RF). The consumer’s contactless payment device can assume a variety of form factors, including cards, near field communication (NFC)-enabled smartphones, and wearables. Contactless transactions are cryptographically secure and generate a unique code for each transaction.
- Moreover, contactless is finding its place globally, particularly in transit. For instance, the Metropolitan Transportation Authority (MTA) reported that the OMNY system surpassed 5 million total taps in January, since the start of the pilot. Though transit is a major driver of the technology, acceptance is still not uniform in other retail outlets.
- Additionally, in the beginning of 2020, Helsinki Regional Transport signed a deal with LittlePay to introduce contactless smart payments across all modes of transport in Finland’s capital, as part of a three-year deal. Work has already started on the roll-out across Helsinki’s ferry, rail, and bus systems. Furthermore, the introduction of contactless payments is seen as a vital way in boosting the use of public transport.

Asia-Pacific to Witness Highest Growth

- Emerging economies across Asia-Pacific are set to offer potential opportunities for the growth of the smart card market, owing to the growth of a robust financial system that is getting increasingly digitized and push by the government agencies to incorporate smart chip-based systems for better monitoring of processes.
- China has been one of the pioneers in phasing out checks and introducing contactless payments, leading to the introduction of digital cards. In November 2019, Alipay, China’s leading payment platform, was serving more than 1.2 billion customers. China’s ID cards feature an embedded chip and digital encryption. The card contains personal information, including the individual’s full name in the Chinese characters, gender, ethnicity, date of birth, domicile, identification number, and a color photo.
- Enterprises across the region are also involved in partnerships to expand their services to China. For instance, IDEX Biometrics and Goldpac partnered to introduce dual-interface biometric smart cards to the customers in China and beyond. In addition, the company also teamed up with Excelsecu, a Shenzhen-based security solutions provider specializing in security solutions, including FIDO-based security keys, one-time password systems, and smart cards.?
- The developing regions, including India, are likely to propel the demand. The Delhi government allowed the Delhi Metro smart cards to pay for bus rides in Delhi. Furthermore, the Delhi Metro Rail Corporation (DMRC), in October 2019, announced its plans to make the transition toward the biometric transit cards in the process, making it the first transit provider in India to do so.??

Competitive Landscape
The smart card market is fragmented. Some of the major players are using tactics such as partnerships, new product launches, agreements, expansions, innovations, joint ventures acquisitions, and other strategies to increase their footprints in this market. Besides, many other players are looking to expand their production capacity, especially in Asia-Pacific, which is the fastest growing smart card market. In the emerging economies, companies are focussing on launching new smart card products for government and transportation applications. Some of the recent developments are as follow:-

- February 2020 - Bundesdruckerei GmbH collaborated with Gematik GmbH to set up and operate the key generation service 2 (SGD2) for the ePA as a service of the telematics infrastructure (TI) for the electronic health card.
- October 2019 - CardLogix has started looking for clients owing to the official release of NXP’s latest generation Java Card OS, JCOP 4 technology backed smart cards with custom applet development and existing applet support. JCOP 4 smart cards deliver benchmark transaction performance for EMV payments and other high-speed applications.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers


Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on