North America Smart Card Market (2021-2027) | Trends, Share, COVID-19 IMPACT, Outlook, Companies, Growth, Forecast, Industry, Revenue, Size, Value & Analysis

North America Smart Card Market has significant growth due to the increasing adoption of digital payment options. Smart cards are pocket-sized cards embedded with integrated circuit chips and majorly used for authentication, application processing, personal identification, and data storage. Additionally, these cards are pin-protected and difficult to decode, hence can be used for payments. Further, factors such as rapid digitalization, the surge in cashless transactions, and rise in demand from the healthcare sector, increasing incidence of forgery and duplication of identity owing to technological advancements, growing demand for biometric systems in passport verification, rising demand for advanced verification process propelled by rising safety & security concerns drive the growth of the Smart Card market. However, High Initial Investment is one of the key factors that restrain the growth of the smart card market. The cost increases with the chips. The outbreak of the Covid-19 has acted as a massive restraint on the smart card market however it has affects lesser to the telecommunications and healthcare verticals. The surge of health care data brings up challenges in providing efficient patient care and privacy. Smart cards solve both challenges by providing secure and easy distribution of data. Further, it is expected that there will be an increasing focus on hygiene and sanitation due to the rise in people’s concern for a better and safer lifestyle. However, World Health Organization and government administrations are advising citizens to obey the social distancing norms to contain the spread of the virus. There is a rise in demand for contactless payments.

According to 6Wresearch, the North America Smart Card Market size is anticipated to register growth during 2021-27. The USA smart card market has more demand in the North American region and then followed by Canada. The growth of the smart card market is by the emergence of technologies like blockchain, IoT, and biometric. The companies operating in the BFSI industry are using blockchain technology for offering an advanced security solution in the digital payment process. Additionally, Government organizations are implementing these technologies to avoid tax fraud and allow more clearance between government and citizens. Further, the market for the smart card has witnessed a surge due to the developing medical industry. Additionally, in June 2020 CPI Card Group teamed up with Visa, an American multinational financial services corporation. However, in October 2019 American Banknote Corporation introduced its battery-free dynamic security code payment card. This card uses Ellipse Verification Code technology and it is very efficient at minimizing transaction fraud.

Some of the key players in the region are Thales Group S.A. CPI Card Group, Assa Abloy AB, Giesecke & Devrient GmbH, IDEMIA SAS, Inteligensa, CardLogix Corporation, Watchdata Co. Ltd., Eastcompeace Technology Co., Ltd, ABCorp, etc. 

However, the MPU microprocessor market has more demand. By Interface, the market is categorized into Contactless, Contact, and Dual Interface, in which Contactless card has demand in the market. Further, based on Functionality, the market is segmented into Communication, Transaction, and Security. Whereas on the basis of Vertical, the market is segmented into Telecommunications, BFSI, Government & Healthcare, Transportation, Retail, Education, and Others. The telecommunication sector has more demand due to the demand for smartphones. Additionally, based on countries, the market is divided into the U.S., Canada, and the Rest of North America.

The North America Smart Card market report thoroughly covers the market by product type, interface, functionality, vertical, and countries including the U.S., Canada, and the Rest of North America. The North America Smart Card market outlook report provides an unbiased and detailed analysis of the ongoing North America Smart Card market trends, opportunity/high growth areas, and the market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Key Highlights of the Report:

• North America Smart Card Market Outlook
• Market Size of North America Smart Card Market, 2020
• Forecast of North America Smart Card Market, 2027
• Historical Data and Forecast of North America Smart Card Revenues & Volume for the Period 2017 - 2027
• North America Smart Card Market Trend Evolution
• North America Smart Card Market Drivers and Challenges
• North America Smart Card Price Trends
• North America Smart Card Porter's Five Forces
• North America Smart Card Industry Life Cycle
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Types for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Contact Cards for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Contactless cards for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Multi-component cards for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Types for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Contact Cards for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Contactless cards for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Multi-component cards for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Types for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Contact Cards for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Contactless cards for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Multi-component cards for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Component for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Memory-based for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Microcontroller-based for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Component for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Memory-based for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Microcontroller-based for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Component for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Memory-based for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Microcontroller-based for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Application for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By BFSI for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Government for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Telecommunication for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Retail for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Healthcare for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Hospitality for the Period 2017 - 2027
• Historical Data and Forecast of North America Smart Card Market Revenues & Volume By Others for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Application for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By BFSI for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Government for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Telecommunication for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Retail for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Healthcare for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Hospitality for the Period 2017 - 2027
• Historical Data and Forecast of United States Smart Card Market Revenues & Volume By Others for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Application for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By BFSI for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Government for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Telecommunication for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Retail for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Healthcare for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Hospitality for the Period 2017 - 2027
• Historical Data and Forecast of Canada Smart Card Market Revenues & Volume By Others for the Period 2017 - 2027
• North America Smart Card Market - Key Performance Indicators
• North America Smart Card Market - Import Export Trade Statistics
• North America Smart Card Market - Opportunity Assessment By Countries
• North America Smart Card Market - Opportunity Assessment By Types
• North America Smart Card Market - Opportunity Assessment By Component
• North America Smart Card Market - Opportunity Assessment By Application
• North America Smart Card Market - Top Companies Market Share
• North America Smart Card Market - Top Companies Profiles
• North America Smart Card Market - Comparison of Players in Technical and Operating Parameters
• North America Smart Card Market - Strategic Recommendations

 Markets Covered

The market report covers the following market segments:

• By Type
  • Contact Cards
  • Contactless Cards
  • Multi-components Cards
• By Component
  • Memory-based
  • Microcontroller-based
• By Application
  • BFSI
  • Government
  • Retail
  • Telecommunication
  • Healthcare
  • Hospitality
  • Others
• By Countries
  • United States
  • Canada

Frequently Asked Questions About the Market Study (FAQs):