Smart Card Material Market to Hit USD 1,837.78 Mn by 2028

 

Significant Growth in Telecommunications and Healthcare Sectors will help to escalate Smart Card Material Market Growth, according to new research.

Smart cards are extensively used in the telecommunication industry. The majorly used smart card in telecommunication industry is subscriber identity module (SIM) or universal integrated circuit card (UICC).

These smart cards are manufactured mostly from polyvinyl chloride (PVC) and acrylonitrile butadiene styrene (ABS) materials. The Universal Integrated Circuit Card (UICC) is a new generation of SIM technology used for new wireless network standards.

The advancement in the smart card technology for usage in telecommunication has surged form past few years which has resulted in consumption of smart cards in telecommunication industry. As per the information provided by ‘Secure Technology Alliance’- association of digital security industry, the SIM and UICC cards are mostly consumed smart cards products both in terms of volume and value. Thus, the material required to develop these smart cards are also having robust demand and is driving the smart card materials market.

The growing demand of health care industry is also the major factor in boosting the smart card materials market. Healthcare organizations across the globe are implementing smart heath cards consisting wide variety of features and applications. The acceptance of smart card technology in healthcare industry for data security, protecting the patient’s personal health information so that only authorized person such as doctors and other medical staff can access it are the key factors for increasing demand of smart cards in healthcare industry.