Due to significant technical developments in the telecommunications and semiconductor industries, it is anticipated that the worldwide dual interface smart card market would see rapid expansion. Numerous businesses, including telephony, BFSI, retail marketing, and others use dual interface smart cards.
The already rising popularity of dual interface smart cards has been boosted by the advancements in the semiconductor industry and the focus on innovation. Among the finest instances of these cards’ innovation are contactless smart cards with Wi-Fi module transactions enabled. Additionally, recent years have seen a significant increase in the number of growth opportunities for the dual interface smart card market due to the growing emphasis on digital transactions, which is supported by numerous incentives and offers.
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Dual Interface Smart Card Market: Segmentation
Fact.MR has studied the dual interface smart card market with detailed segmentation on the basis of substrate, embedded chip, operating system, application, and region.
- PC Paper
- Teslin/ Synthetic Paper
- I2C Straight Memory Cards
- Stored Value Memory Cards
- Protected Segment Memory Cards
- Serial Data Flash
- Fixed File Structure
- Dynamic Application System
- SIM Cards and Telecommunications
- Loyalty and Stored Value
- Securing Digital Content and Physical Assets
- Bank Issued Smart Cards
- Healthcare Informatics
- Embedded Medical Device Control
- Enterprise and Network Security
- North America
- Latin America
- East Asia
- South Asia & Oceania
Key Takeaways from Dual Interface Smart Card Market Study
- The global dual interface smart card market is expected to create a value opportunity of around US$ 8 Bn during the forecast period, adding 1.8X more value in 2030 as compared to 2020.
- The dynamic application-based operating system smart cards segment will continue to dominate demand, accounting for more than two-third global market share.
- The telecommunications industry, respect to dual interface smart cards, is set to grow at a high rate, facilitated by surging demand for smartphones and advancements in backbone infrastructure to provide network stability.
- The global dual interface smart card market is expected to witness a rise in emerging countries such as India, China, and Brazil, owing to increasing disposable income and mounting demand for automotive products.
- Asia Pacific (APAC) is estimated to be the most lucrative market in terms of revenue generation, currently valued at US$ 3.9 Bn, and is expected to show prolific expansion over the forecast period.
- The North America dual interface smart card market is poised to expand at a CAGR of 6.5%, creating a value opportunity of US$ 1.7 Bn by 2030.
- The COVID-19 pandemic has led to manufacturing and supply chain issues, besides reduced demand for consumer electronic products, thereby restraining the market from reaching its full potential.