EMV Card Market - Overview

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. EMV cards has a computed microchip that generates one time unique authentication code for each and every transaction for better security of the card users. There are several types of EMV chips cards available in the market namely dual interface, contactless, and standard. Each transactions by EMV cards often referred to as “Chip and PIN” because PIN entry is needed to verify the genuine cardholder. Through superior algorithms and complicated processing methods EMV cards is providing more security to the card users.

EMV Card Market - Drivers and Restraints

Across the globe, EMV card technology is transforming the way for consumers to shop online and offline. Rising trend towards digital financial economy, increasing need of securing the card authentication systems are projected to drive the EMV card market around the globe. EMV standard is basically designed to guard personal information with superior technology to elude theft and hacking. The top three benefits of EMV includes safer transactions both online and in person, a more through authentication process and reducing identity theft risk. Other benefit related with an EMV card chip is the superior capacity to hold and write information compared to the magnetic stripe. The main advantage associated with the EMV standard is to reduce and simplify the data flow between the card processor and terminal gateway with the help of complex EMV authorization requirements. In EMV technology maintains, manages and enhance the specification to ensure globally interoperability of chip card acceptance devices such as ATMs and sale terminals.

Some of the restraining factors for the EMV card market are magnetic stripes present in the EMV card that contains static information can be easily duplicated by fraudsters. Furthermore,  other limitations of EMV is fraudulent use of stolen and lost cards, that creates  delays and confusion for merchants and consumers due to long transaction times compared to swipe cards and enter PIN instead of a signature. However, rapidly increasing technological innovation pertaining to the EMV card is expected to overcome these restraints in near future.

EMV Card Market - Segmentation

The global EMV card market can be segmented on the basis of components, type of cards, and regions. And others. On the basis of components, EMV card is segmented into four primary components i.e. acquiring banks, card brands, issuing banks, and credit card processors. EMV card is divided into two main type’s credit and debit cards. Geographically the EMV card market continues to provide growth opportunities segmented into North America, Europe, Asia Pacific, Middle East & Africa and South America. North America and Europe are expected to have a vertical growth in terms of financial due to the presence of well-established players and higher technological innovations across the region.

EMV Card Market - Key Players

Some of the Major key players of EMV card market in its growth stage are ABnote, CPI Card Group, Gem alto, Giesecke & Devrient , Morpho (Safran) , Oberthur Technologies ,Versatile Card Technology Ingenico ,PAX Technology, SZZT Technology, VeriFone , ATOS World line, Cyber Net, Equinox, Keycorp, NCR, Spire Payments, Hengbao, Watch data systems Co. Ltd, Gold Pac and so on.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Emv Card Market

Pre Book