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Market Growth Projection: The Smart Card Market is expected to reach a substantial value of USD 29.6 billion by the year 2033, with a steady Compound Annual Growth Rate (CAGR) of 5.9% predicted during the forecast period from 2024 to 2033.
Do people still use smart cards?
Payment processing Payment processing is the most common use of smart cards. Most new credit and debit cards, business and personal alike are smart cards.
What is a drawback of a smart card?
High cost and weak compatibility: Most smart cards and card readers are relatively expensive. Moreover, theyre also incompatible with some smart chip card software.
What is the future of prepaid cards?
The global market for Prepaid Cards is estimated at US$2 Trillion in 2023 and is projected to reach US$4.1 Trillion by 2030, growing at a CAGR of 9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
What is the smart card market trend?
India Smart Card Market is surging, with a projected CAGR of 7.22% between 2024 and 2032 and is poised to reach a market size of US$ 166.16 billion by 2032 from US$ 90.16 billion in 2023. India smart card market is witnessing a strong government support. Security, as always, remains a central driver.
Roland Moreno (11 June 1945 29 April 2012) was a French inventor, engineer, humorist and author who was the inventor of the smart card. Morenos smart card, or la carte puce in French, was little known internationally. However, he became a national hero in France and was awarded the Lgion dHonneur in 2009.
What is the future of smart cards?
The rapid development of digital technologies is propelling the growth of the smart card market, which is estimated to reach USD 16.9 Billion by 2026. Because of higher demand from governments, financial institutions, and retailers, the industry demand for various kinds of smart cards is skyrocketing.
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