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Plastic Cards Market Report
Global Plastic Cards Market, Trends and Market Analysis
The Global Plastic Cards Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of 7.5% during the forecast period.
Figure: Global Plastic Cards Market Size, 2020-2026 (USD Million)
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Plastic cards are a personalized mode of payment that enables to use of the card for non-cash payment of goods & services, as well as helps to withdraw cash at ATMs and bank branches. These cards find widespread applications in various industries such as government, banking, healthcare, financial services, transportation, and insurance (BFSI), for identification and authentication. Plastic cards help to offer individuals with authorized access to secured premises of an organization to secure data security and confidentiality.
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Asia Pacific is a key driver of the plastic cards market growth.
The chip-enabled cards witnessed a substantial market share and are likely to reach over USD 32 billion, with a healthy CAGR of 7.8% during the review period.
A chip-enabled plastic card is a standard-size plastic-based credit or debit card which is embedded with a microchip as well as a traditional magnetic stripe. Moreover, the segment holds around 80% of the overall plastic cards market by technology.
The Asia Pacific market held the largest market share in 2020, due to an upsurge in the number of financial institutions in the region.
The growing use of financials cards has further driven the demand for plastic cards in countries like China, India, and Japan. Product manufacturers are focusing on catering customer demands for plastic card in the region by collaborating with banks and government organizations.
COVID-19 Impact on Global Plastic Cards Market
The outbreak of COVID-19 has adversely affected the plastic card industry worldwide. The number of cards manufactured across the globe declined from 19.7 from 37 billion cards in 2019 to around 30 billion cards in 2020. Most regional markets and vertical markets have witnessed considerable declines in revenue.
Critical Questions Answered in the Report
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The following is a list of the customers that the Plastic cards market aims to convert the most:
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The plastic cards market is expected to grow at a CAGR of 7.5% in the foreseeable future.
Gemalto N.V. (Netherlands), CPI Card Group Inc. (The U.S.), Giesecke & Devrient GmbH (Germany), American Banknote Corporation (The U.S.), IDEMIA France SAS (France), Perfect Plastic Printing Corporation (The U.S.), Goldpac Group Limited (Hong Kong), Inteligensa Group (Venezuela), Marketing Card Technology, LLC (The U.S.), TAG Systems SA (Andorra), QARTIS S.A. (Poland), and Teraco, Inc. (South Africa) are among the key players in the plastic cards market.
Asia Pacific held the largest share of plastic cards market in 2020, due to an upsurge in the number of financial institutions in the region.
Plastic Cards vendors, Payment companies, Banks, Gift card companies, Healthcare companies, Transportation companies, Government organizations are among the key players in the plastic cards market.
Increasing demand for reliable & secure payment transactions across different sectors, favourable governmental policies towards digitalization coupled with increasing e-payment facilities are the factors driving the plastic cards market.
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