PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226441
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1226441
Global Banking Smart Card Market is valued approximately at USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2029. A banking smart card is any pocket-sized card that has embedded with microprocessor chip or memory chip. This banking smart card is a novel technology which has been introduced to the banking industry in order to minimize fraudulent activity and thus, enhance safety when it comes to banking. This banking smart card is a medium via which clients would be capable to ensure the protection of their assets. The banking smart card technology aids in zero error functioning and is frequently more convenient for the consumer to use. The increasing number of frauds in banking & financial sector coupled with surging trend of cashless transactions are the major factors responsible for high CAGR of the market over the forecast period.
For instance, according to Statista - as of 2023, the transaction value in the global Digital Payments segment is estimated at USD 9.47 trillion, and the total transaction value is expected to show an annual growth rate of 11.79% between 2023 & 2027 resulting in a projected total amount of USD 14.79 trillion by 2027. Also, the growing requirement for secure authentication and verification technology to conquer security threats in the banking sector is a prime factor boosting the demand for smart cards around the world. In addition, constant developments in technology penetration along with growing digital channels such as online banking & mobile banking is another factor driving the demand for banking smart cards all over the world. However, lack of awareness of the smart card technology, the high cost to initially implement this technology and security concerns among users are few factors anticipated to limit the growth of global Banking Smart Card market during the forecast period.
The regional analysis of global Banking Smart Card market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region in terms of revenue and market share owing to rise in trend of cashless transactions among individuals living in this region. However, Asia-Pacific is expected to exhibit at high growth rate over the forecast period of 2022-2029 owing to rising number of fraudulent activities in banking sector across the countries of this region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable