chip card reader market

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chip card reader market Forecast To 2024
Global chip card reader market Segmented on the basis of
The chip card reader market has been segmented by type, application, and technology.
By type, the market has been segmented into contactless-based, interface based, and contact-based. The
contact-based segment of the market is expected expand at a CAGR of 40.6% during the assessment
period and surpass a valuation of USD 2,290.03 million by 2024. The expansion of the segment can be
attributed to the large-scale application of contact-based smart card readers in credit card and debit card
transaction system. The contactless-based segment to exceed a valuation of USD 1,673.96 Mn.
By technology, the market has been segmented into Europay MasterCard Visa (EMV) Chip, Near Field
Communication (NFC), and other. The Europay Mastercard Visa (EMV) chip segment accounted for 53.1%
of the global market share. The near field communication (NFC) is likely to value at USD 24,100 Mn by
2024.
By application, the market has been segmented into identity management, ticketing, security & access
management, payments, and others. The payment segment, due to the increase in the application of
smart card readers in payment systems is expected to direct the growth of the market in the coming years.
The identity management segment is anticipated to follow the lead.