Smart Card Material Market Worth US$ 1,837.78Mn, Globally, by 2028

In 2020, Asia Pacific held the largest share of the global smart card material market. The governments of various Asia Pacific countries are focusing on installing smart card systems in public transportation.

Smart cards are highly used in the retail sector. Moreover, the growing use of smart cards in various applications, such as government and education sectors, is fueling the market growth in the region. Furthermore, the smart card material market players from the region invest heavily in R&D activities to introduce innovative products.

Materials such as PETG, ABS, PVC, PC, and PET are used for the manufacturing of smart card bodies, and they provide the required thickness and durability to smart cards. These materials are widely employed to build smart cards used in sectors such as BFSI, government, hospitality, and retail.

The increasing digitalization in the banking and financial services industry to make banking operations more convenient with efficient data management is propelling the demand for smart cards. In addition, growing digitalization in the retail industry for strengthening the payment infrastructure is augmenting the consumption of smart cards, furthe