Market Research Report
EMV Cards Market by Technology and Geography - Forecast and Analysis 2020-2024
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||367508|
|Published||Content info||144 Pages
Delivery time: 1-2 business days
|EMV Cards Market by Technology and Geography - Forecast and Analysis 2020-2024|
|Published: October 29, 2019||Content info: 144 Pages||
Technavio's EMV cards market analysis considers sales from both contactless and contact EMV cards. Our report also provides a detailed analysis of the market in APAC, Europe, MEA, North America, and South America. In 2019, the contactless technology segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as convenience and limited time required for transactions will play a significant role in the contactless technology segment to maintain its market position. Also, our global EMV cards market report looks at factors such as the need to comply with regulations related to EMV, benefits of EMV cards, and the increasing number of cashless transactions. However, popularity of mobile payments, high costs of transitioning from existing card infrastructure, and vulnerabilities associated with EMV cards may hamper the growth of the EMV cards industry over the forecast period.
EMV cards are gaining popularity because of their better transaction security, which is attributed to the use of embedded microprocessor smart chips. These cards support different types of payment transactions such as contact, contactless, and mobile. They also support offline transactions. Reduced terminal payment frauds and speedy transaction process have encouraged many merchants to opt for EMV payment terminals. This has resulted in the expansion of the global EMV cards market at a CAGR of over 6% during the forecast period.
The advent of biometric EMV cards is one of the significant EMV cards market trends. This development is expected to have a positive impact on the overall market growth as manufacturers, card issuers, and payment network providers are continuously focusing on making transactions secure, fast, and reliable.
For the detailed list of factors that will drive the global EMV cards market during the forecast period 2020-2024, view our report.
With the presence of several major players, the global EMV cards market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading EMV cards manufacturers, that include American Banknote Corp., CPI Card Group Inc., Fiserv Inc., Giesecke+Devrient GmbH, Goldpac Group Ltd., IDEMIA, IdentiSys Inc., Perfect Plastic Printing Corp., Thales Group, and Valid Solucoes SA.
Also, the EMV cards market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.