Rapid and Increased Adoption of Card Transactions to Stimulate Market Growth

Published On : Dec 2021

Vision Research Report has added a new market intelligence study to its repository of extensive and wide variety of reports. The study bearing the title, “Global Contactless EMV Cards Market Insights, Forecast to 2025” has been to its extensive and varied repository. An all-inclusive analysis and an in-depth study of the world market for contactless EMV cards comprise the said market intelligence study. The market research study elaborates on the various facets of the said market so that investors canmake informed and well-thought about decisions about making an investment in the world market for contactless EMV cards. The report mentions and details on market figures and data, geographical analysis, and all of the factors that propel and restrain the growth of the market.In addition to that, the study also highlights the market classifications that are based on various market segmentations.

This market intelligence study on the international contactless EMV cards market makes an offering of a comprehensive analysis for the forecast time frame that extends up until the year 2025. Data for previous years have been taken into considerations as to asses future based on historical information. The report encompasses dynamics of the market that make an inclusion of market restraints, trends, drivers, and opportunities that are projected to exert influence on the world market for contactless EMV cards over the mentioned time frame. The study also covers the technologies that play a significant role in bolstering the world market for contactless EMV cards.

A few of the market elements that have been boosting the world market for contactless EMV cards are soaring number of transactions that are done through card and the same is forecasted to have a positive impact on the progress this market in the years to come. The ease of using debit and credit cards so as to make various payments has stimulated their adoption amongst the masses. This has, in turn, fuelled market vendors to take up the option of advanced payment mechanisms that involve cards. Furthermore, in the recent years there has been a rapid increase in the inclination towards the utilization of cards in the form of digital money and this is expected to inspire market vendors to augment their investments in the technology of EMV so as to give consumers and merchants a secured channel of payment whilst processing their payments via card transactions. 

Furthermore, the technology of NFC technology allows wireless communication between a POS terminal and an NFC-enabled chip card thereby facilitating contactless transactions. As such,these contactless transactions are way faster than the conventional method of paying cash. It also diminishes the time that is spent at POS terminals by around 70%. Consequently, the need for these systems will increase in manifolds in the years to come.Such increased demand for contactless payment is expected to boost the demand for the world market for contactless EMV cards.

The world market for contactless EMV cards has been segregated on the basis of end-use, type, and region.Taking geographical segmentations into consideration, the said market has been segmented into the geographies of North America,Latin America, Western Europe, Eastern Europe, Asia Pacific, and the Middle East and Africa.

Apart from that, the market research study also makes a mention of crucial developments that pertain to the world market for contactless EMV cards. The study also includes analysis of Porter’s Five Forces that points out emerging threats from substitutes and new entrants, suppliers’ and buyers’ capability to bargain, threats arising out of stiff competition in the said market. Value Chain analysis that gauges the main stakeholders of the market have also been included in the report.

A few of the prominent market players operating in the international contactless EMV cards market are CardLogix, Safran, Giesecke&Devrient, NXP Semiconductors,Gemalto N.V,  American Express, Beijing Watchdata Co. Ltd., berthur Technologies, ABCorp (American Banknote Corporation), and Infineon Technologies amongst many others that are operating in the said market.

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