Smart cards are embedded with chips or circuits to secure data storage. The components, such as polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC), and polyester (PET/PETG), used to make these cards are called smart card materials. These materials exhibit flexibility, durability and ability to support complex electronic components. Further, additional layers, such as magnetic strips or holograms are also embedded in a smart card for enhanced functionality. These also ensure compatibility with electronic systems as well as resistance to breakage. Thus, these smart card materials are majorly used in telecommunication, identity verification and banking purposes.
There is an increase in demand for secure identification solutions owing to surge in concerns over data breaches and identity theft. This factor majorly drives the growth of smart card materials market in the government, healthcare and banking sectors. Further, there is a shift in preference for contactless and multi-application cards for national ID programs and e-passports. This shift makes way for the manufacturers to come up with innovative materials that meet functionality requirements along with maintaining data security. These factors, thus, drive the growth of the smart card materials market.
However, competition from alternative technologies such as blockchain-based solutions, mobile payment systems, and biometric authentication hinder the growth of the market. These alternative technologies offer convenience, efficiency and security, thus reducing reliance of smart cards. This, in turn, affects the demand for smart card materials, as these cards are being less preferred by the consumers. This hampers the growth of the smart card materials market.
Nevertheless, rise in demand for secure authentication solutions owing to surge in cyber threats and the need to protect sensitive data makes way for lucrative opportunities for the growth of the smart card materials market. Government, banking, telecom and healthcare industries are opting for smart card to secure data. These cards provide multi-factor authentication, reducing fraud risks. This is opportunistic for the growth of the smart card materials market.
By region, Asia-Pacific dominates the smart card materials market. This is attributed to rapid urbanization, increase in adoption of contactless payment solutions in BFSI, transportation, and healthcare sectors, and surge in penetration of digital payment ecosystem. The region is also experiencing expansion of the telecom industry. Furthermore, government initiatives promoting digital identification and financial inclusion also boost the demand for smart cards, in turn, fostering the demand for smart card materials in the market. In addition, availability of low-cost raw materials and advancements in polymer technologies boost the growth of the smart card materials market.
There is an increase in demand for secure identification solutions owing to surge in concerns over data breaches and identity theft. This factor majorly drives the growth of smart card materials market in the government, healthcare and banking sectors. Further, there is a shift in preference for contactless and multi-application cards for national ID programs and e-passports. This shift makes way for the manufacturers to come up with innovative materials that meet functionality requirements along with maintaining data security. These factors, thus, drive the growth of the smart card materials market.
However, competition from alternative technologies such as blockchain-based solutions, mobile payment systems, and biometric authentication hinder the growth of the market. These alternative technologies offer convenience, efficiency and security, thus reducing reliance of smart cards. This, in turn, affects the demand for smart card materials, as these cards are being less preferred by the consumers. This hampers the growth of the smart card materials market.
Nevertheless, rise in demand for secure authentication solutions owing to surge in cyber threats and the need to protect sensitive data makes way for lucrative opportunities for the growth of the smart card materials market. Government, banking, telecom and healthcare industries are opting for smart card to secure data. These cards provide multi-factor authentication, reducing fraud risks. This is opportunistic for the growth of the smart card materials market.
Segment Overview
The smart card materials market is segmented into material type, application, and region. On the basis of material type, the market is divided into polyvinyl chloride (PVC), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate-glycol (PETG), wood, and others. On the basis of application, the market is classified into telecommunications, retail, BFSI, healthcare, hospitality, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.By region, Asia-Pacific dominates the smart card materials market. This is attributed to rapid urbanization, increase in adoption of contactless payment solutions in BFSI, transportation, and healthcare sectors, and surge in penetration of digital payment ecosystem. The region is also experiencing expansion of the telecom industry. Furthermore, government initiatives promoting digital identification and financial inclusion also boost the demand for smart cards, in turn, fostering the demand for smart card materials in the market. In addition, availability of low-cost raw materials and advancements in polymer technologies boost the growth of the smart card materials market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the smart card materials market analysis from 2023 to 2033 to identify the prevailing smart card materials market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the smart card materials market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global smart card materials market trends, key players, market segments, application areas, and market growth strategies.
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- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Material Type
- Acrylonitrile Butadiene Styrene (ABS)
- Polyvinyl Chloride (PVC)
- Polycarbonate (PC)
- Polyethylene Terephthalate-Glycol (PETG)
- Wood
- Others
By Application
- Telecommunications
- Retail
- BFSI
- Healthcare
- Hospitality
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- IDEMIA
- Thales
- CPI Card Group Inc.
- LG Chem
- Akme Cards Private Limited
- KEM ONE
- Eastman Chemical Company
- Infineon Technologies AG
- HID Global Corporation
- CardLogix Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SMART CARD MATERIALS MARKET, BY MATERIAL TYPE
CHAPTER 5: SMART CARD MATERIALS MARKET, BY APPLICATION
CHAPTER 6: SMART CARD MATERIALS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- IDEMIA
- Thales
- CPI Card Group Inc.
- LG Chem
- Akme Cards Private Limited
- KEM ONE
- Eastman Chemical Company
- Infineon Technologies AG
- HID Global Corporation
- CardLogix Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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