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Technavio’s market research analyst estimates the global banking and financial smart cards market to grow at a CAGR of almost 10% by 2020. The BFSI sector deals with critical data and information, therefore, it requires a highly secure authentication and verification technology that is least affected by security threats and bank forgery. The rising need for a high level of data and identity security in the banking and payment industry will aid in the growth of this market during the forecast period.
The strong need to reduce identity duplication will be the key driver for the growth of this market. Due to advances in technology, the number of fraudulent activities and forgeries are increasing. As a result, the cards and payments industry has undergone a digital transformation with the introduction of new payment methods such as EMV chips, personal identification number (PIN) cards, and mobile wallets. Since the data available in smart cards is difficult to decode, they will have a higher adoption rate in the BFSI sector.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Global banking and financial smart cards market
PART 07: Market segmentation by technology
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Five forces analysis
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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