Smart Card market projected to reach 11200 Million USD by 2025

The Smart Card market was valued at 7550 Million USD in 2018 and is projected to reach 11200 Million USD by 2025, at a CAGR of 5.0% during the forecast period.

In a new study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Smart Card.

The Global Smart Card market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

China’s Smart Card industry is still in the development stage. China is a large population country, there are only few manufacturers which can produce the Smart Card product. Most of Smart Card products are still relying on import. With the People’s Bank of China (PBOC) have announced all banking cards in China would migrate to smart cards,the demand for smart card have a rapid development in recent two years. At present, there is still a wide gap in the market size, the capital , marketing, product development or technical studies between China domestic enterprises and foreign enterprises , especially in some high-end technology field.

In the coming years, Smart Card market is expected to witness the highest growth rate in the Asia-Pacific region. Although Smart Card brings a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.