Market players to witness increasing sales of SIM cards due to progressions in the telecommunications sector.
ROCKVILLE, MD / ACCCESSWIRE / September 21, 2020 / The global dual interface smart card market is projected to expand at a value CAGR of 6% through 2020-2030. The growth can be primarily attributed to high technological progressions in the area of telecommunications and semiconductors.
'Dynamic application system-based dual interface smart cards are projected to grow, due to their auto-upgrade attributes regarding telecom industry applications,' says the Fact.MR report.
Dual Interface Smart Card Market - Key Takeaways
- In terms of substrate, the PVC substrate smart cards will grow at a CAGR of 6% during 2020-2030.
- Based on the operating system, the dynamic application will be the most lucrative operating system.
- Based on application SIMs (Subscriber Identity Modules) will open up several growth prospects for the market.
- In terms of region, East Asia to tower over other regions due to high growth in the consumer electronics sector in addition to rising demand for loyalty cards.
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Dual Interface Smart Card Market - Drivers
- Growing focus on digital transactions, due to several gifts and offers ensued in generating several development prospects for the global market.
- Implementation of Internet of Thing (IoT) and launch of NGNs (Next Generation Networks) will assist market expansion, on account of the growing demand for several applications such as smart cities, assets biotechnology, smart grids, connected cars, and smart stadiums.
- Growing demand for smartphones will boost the dual interface smart card market size in the upcoming years.
Dual Interface Smart Card Market - Constraints
- Dual-interface cards are often an intermediary stage for migrating from a contact to a contactless card due to its complexity dual-interface card production remained exorbitant for the majority of the sector.
Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 pandemic has impacted the market expansion of dual interface smart cards, disrupting supply chains, and nationwide lockdowns. A notable slew in demand owing to prioritizing essential goods and services is further restricting the market to attain its full potential. The U.S. and China are adversely affected by the outbreak as they are the prominent consumers of dual interface smart cards, supported by the booming telecom sector and growing IoT applications demand.
Explore the global Dual Interface Smart Card market with 63 figures, 79 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4962/dual-interface-smart-card-market
Key players identified in the global dual interface smart card market are Bartronics India Limited, American Banknote Corporation, Cardcom Technology, CPI Card Group, CardLogix Corporation, Eastcompeace Technology Co., Ltd, GOLDPAC Group, Giesecke & Devrient (G&D) GmbH, Hengbao Co. Ltd., Ingenico Group, IDEMIA, Infineon Technologies AG, Inteligensa Group, NXP Semiconductors N.V., Kona I Co., Ltd., Perfect Plastic Printing Corporation, Square, Inc., Identiv, Inc., Thales Group, VeriFone Systems, Inc., VALID, Wuhan Tianyu Information Industry Co., Ltd. and Watchdata.
More on the Report
The FACT.MR's market research report provides in-depth insights into the dual interface smart card market. The market is scrutinized on the basis of substrate (Composite, PVC, Teslin/ Synthetic Paper, PC Paper and Others), embedded chip (Stored Value Memory Cards, I2C Straight Memory Cards, Microprocessors, Serial Data Flash and Protected Segment Memory Cards), operating system (dynamic application system and fixed file structure) and application (Loyalty and Stored Value, SIM Cards and Telecommunications, e-Commerce, Securing Digital Content and Physical Assets, Healthcare Informatics, Bank Issued Smart Cards, Enterprise and Network Security and Embedded Medical Device Control) across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
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