The scope of our recent study on the “Smart Card Material Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Material [Polyvinyl Chloride (PVC), Polycarbonate (PC), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate-Glycol (PETG), and Others]; Type (Contact Cards, Contactless Cards, and Multi-Component Cards); and Application (BFSI, Government, Telecommunication, Retail, Healthcare, Hospitality, and Others)” includes factors governing the market growth, revenue estimation and forecast, and market share analysis. It also includes the determination of significant market players and their key developments.

A smart card, a type of chip card, is a plastic card that contains an embedded computer chip–either a memory or microprocessor type–that stores and transacts data. This data is usually associated with either value, information, or both and is stored and processed within the card's chip. The card data is transacted via a reader that is part of a computing system. Systems that are enhanced with smart cards are in use today throughout several key applications, including telecommunication, healthcare, banking, entertainment, and transportation. Further, smart card materials refer to chemical materials that are utilized in the manufacturing of smart cards. These chemicals enable the producers to embed and print information over it. These chemicals enable the manufacturers to play with the strong quality of the card as well.

 

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The smart card material market is projected to reach US$ 1,837.78 million by 2028 from US$ 1324.57 million in 2021; it is expected to grow at a CAGR of 4.8% from 2021 to 2028. The advantages of a smart card such as secured and faster exchange of information, easy interface for transactions, protection of personal information of users are propelling the growth of the smart card material market.

 

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.

 

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