The global dual interface smart card market is anticipated to grow at a CAGR of 6.2% during the forecast period (2022-2028). The major factor expected to drive the market growth owing to the high technological advancements in the fields of semiconductors and telecommunications. In addition, the increasing focus on digital transactions, backed by numerous offers and gift, and increasing automation in this industry, the launch of next generation networks (NGNs), and the implementation of the Internet of Things (IoT) are some factors that propel the growth of the global dual interface smart card market during the forecast period. Composite is significantly used as a substrate as it offers strong lamination over printed material, extremely durable and water-resistant, which makes it the best to use in toll booths and RFID tags in offices.
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Some major players in the market include Gemalto NV, IDEMIA, and Next Biometrics Group ASA, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in January 2021, IDEMIA agreed with Jyske Bank, the second-largest Danish-owned bank, to introduce the first recycled plastic payment card in Denmark. Further, in June 2020, The Macao government announced the issue of contactless prepaid payment cards produced by G+D Mobile Security which were pre-loaded with credit to mitigate the economy and provide financial support to citizens.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Gemalto NV, IDEMIA, and Next Biometrics Group ASA, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Dual Interface Smart Card Market Report by Segment
By Type
- Plastic
- Metal
By Application
- Finance
- Government and Public Utilities
- Transportation
- Others
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