EMV Cards Market Global Share, Top Vendor and Industry Analysis 2024

Posted by Ritu on February 16th, 2021

EMV card technology stands for “Euro pay MasterCard and Visa”, which is initially generated by the three companies for the credit and debit card payments globally for the reduction of the costs of fraud and to protect consumers. EMV is a standard for smart payment cards to be used across various automated and terminal teller machineries that can accept them. EMV technology standard is currently managed by an association named as “EMVCo” that is jointly owned by American express, JCB, Master card, discover Visa, and union pay. An EMV card is an embedded microprocessor payment chip that stores and protect cardholder sensitive payment data on integrated circuits rather than magnetic stripes. 

During 2020-2024 emv cards market size will grow by $ 803.22 at a CAGR of almost 6%.

APAC will provide significant growth opportunities to vendors. During the forecast period the region will account for 77% of the market’s growth.

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Growth in the market will be driven by factors such as the the increasing number of cashless transaction. The the advent of biometric EMV cards will also have a significant influence on the growth of the emv cards market during the forecast period.

Though the market will offer several growth opportunities, factors such as the popularity of mobile payments will also challenge the growth of the market participants.

American Banknote Corp., CPI Card Group Inc., Fiserv Inc., and Giesecke+Devrient GmbH are some of the key emv cards market vendors. 

The report provides an analysis of the market’s competitive landscape, the strategies adopted by companies to increase their market share, and the key products or services they provide. The report also analyzes the market based on segmentations such as Technology (Contactless and Contact) and Geographic Landscape (APAC, Europe, MEA, North America, and South America). To improve their market positions, the vendors should focus more on the fast-growing segments.

View our report page for more insights on the emerging market trends that will influence the growth of the emv cards market.