Pune 20 April 2023: The report expects the EVM Card Market to grow from USD 13.9 Bn in 2021 to USD 19.31 Bn by 2029 at a CAGR of 4.2 percent over the forecast period. The report is a mixture of primary data and secondary data and domain expert has analyzed the EVM Card Market from a local, global and regional point of view.
EVM Card Market Report Scope and Research Methodology
The EVM Card Market report provides a thorough analysis of segments and sub-segments in local, global and regional markets. The report focuses on how drivers, restraints, and macro variables affect local, global and regional Systems of EVM Card Market. The report contains a comprehensive analysis of the global EVM Card Market trends, forecasts, and monetary values. The report includes primary and secondary collection techniques with qualitative and quantitative approaches for the analysis of the EVM Card Market. The segment-wise analysis of the EVM Card Market is divided into Type, Brand, Interface, Functionality and Application. The EVM Card Market report includes aspects of the industry with key players such as market leaders, market followers and new entrants. The bottom-up approach was used in the report for EVM Card Market estimation.
The report covers the factors that are driving and restricting the EVM Card Market growth. The report uses analytical methodologies such as Porter’s five forces analysis and PESTLE of the EVM Card Market to provide market insights. The report involves an analysis of current EVM Card Market trends over the forecast period.
EVM Card Market Dynamics
The government promotes ICT to use cashless transactions. The cashless economy is an economy in which there is no cash movement within an economy and the transactions are conducted through electronic media channels. The cashless transaction helps to increase the economy and thus government makes initiatives for the great promotion of the economy. As a result, increasing government initiatives drive the growth of the market.
The EVM Card market growth is driven by increasing demand for cashless transactions increasing need for security during the transaction and rapid digitalization. The growing adoption of the EMV card in the financial and the banking sector and the Better security and authenticity provided by the EVM card, are also expected growth factors for the EVM Card Market. The EVM Card market growth is expected to be hampered by security concerns and high infrastructures costs with data theft.
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EVM Card Market Regional Insights
In 2021, North America held the EVM Card Market with the largest share in terms of volume and value and is expected to grow at a 4.5 percent CAGR over the forecast period. The regional market growth is driven by government initiatives, essential incremental spending and increasing demand for contactless cards.
During the forecast period, the Asia Pacific is expected to grow at a significant growth rate for the EVM card market. The increasing digitalization in the banking sector, the implementation of government agencies for smart chip-based systems and the growing adoption of the EVM card from several sectors such as BFSI, IT & Telecommunication, Food & Groceries and Health & Pharmacy.
EVM Card Market Segmentation
By Type
By Brand
By Interface
By Functionality
By Application
EVM Card Market Key Players include:
Table of for Global EVM Card Market:
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Key questions answered in the EVM Card Market are:
Key Offerings:
Maximize Market Research Information Technology & Telecommunication research firm, has also published the following reports:
Digital Payment Market: The market size is expected to reach USD 285.38 Bn by 2029 at a CAGR of 19.3 percent during the forecast period. The market is driven by the initiatives for the promotion of digital payments and the rapid decline in the Unbanked Population.
Smart Card Market: The market size is expected to reach USD 18.88 Bn by 2029 at a CAGR of 3.9 percent during the forecast period. The market is driven by increasing digitalization, a rise in contactless transactions and increasing demand from the healthcare sector.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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