EMV Cards Market Size to Grow by $ 978.55 mn through 2021-2025  

Technavio research projects the EMV cards market to grow by $ 978.55 mn, accelerating at a CAGR of almost 7% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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EMV Cards Market: Key Market Driver

One of the primary factors that will trigger the growth of the EMV cards market size is Need to comply with regulations related to EMV . This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

EMV Cards Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABCorp., CPI Card Group Inc., Fiserv Inc., Giesecke + Devrient GmbH, Goldpac Group Ltd., IDEMIA France SAS, IdentiSys Inc., Perfect Plastic Printing, Thales Group, and Valid SA are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

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Technavio has been monitoring the Global EMV cards market and it is expected to grow by $ 978.55 million, progressing at a CAGR of 7% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report

APAC to lead market growth during the forecast period

• 57% of the market growth will originate from APAC during the forecast period. China and India are the key markets for EMV cards in APAC. Market growth in APAC will be faster than the growth of the market in other regions. Factors such as financial inclusion of unbanked people, government initiatives for cashless payments, development of the payment infrastructure, and the booming e-commerce sector will facilitate the EMV cards market growth in APAC over the forecast period.  

• Governments of many countries across the world are transitioning from a cash-based economy to a cashless one. Cashless payments, supported by digitization, have increased the use of EMV cards. These cards are gaining popularity because of their better transaction security. Moreover, these cards support different types of payment transactions including contact, contactless, mobile, and offline transactions. 
• The advent of biometric EMV cards is one of the significant EMV cards market trends. Mastercard has already unveiled its next-generation biometric card which requires the user’s fingerprint to authenticate the identity.

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EMV Cards Market: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive EMV Cards Market growth during the next five years
• Precise estimation of the EMV cards market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of EMV cards market vendors