The latest report by MarkNtel Advisors, titled “Metal Cards Market Report By Type (Banking Cards, [Credit, Debit], Health Insurance Cards, Travel Cards, Loyalty & Rewards Cards), By Material (Stainless Steel, Titanium, Brass,Copper, Gold, Silver, Others (Aluminum, Platinum, etc.)), By Technology (EMV Chip, Near Field Communication (NFC), Magnetic Stripe, Others (Biometric Authentication, RFID)), By End User, (Banking, Financial Services and Insurance (BFSI), Retail & E-Commerce, Travel and Hospitality Companies), Others, and Region 2024-2030”, offers a comprehensive analysis of the industry, which comprises insights on the Metal Cards Market research report.
What is the market outlook for Metal Cards?
The Metal Cards Market size is estimated to grow at a CAGR of around 16% during the forecast period 2024–30.
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Major Companies Operating in the Metal Cards Industry:
ICK International Inc., CompoSecure, L.L.C., Thales S.A., Idemia Group, CPI Card Group Inc., Goldpac Fintech, Biosmart, Giesecke+Devrient GmbH, Shanghai RSID Solutions Co. Ltd., Amatech Global, Carbon Coskins, Fiserv Inc., Switzer Mfg, Thames Technology (Paragon ID), Tag Systems UK Limited, and others (Federal Card Services LLC, Swipe Metal, etc.)
Metal Cards Market Report Segmentation:
By Type
-Banking Cards
–Credit
–Debit
-Health Insurance Cards
-Travel Cards
-Loyalty & Rewards Cards
By Material
-Stainless Steel
-Titanium
-Brass
-Copper
-Gold
-Silver
-Others (Aluminum, Platinum, etc.)
- Stainless steel holds a major share of the metal card industry.
By Technology
-EMV Chip
-Near Field Communication (NFC)
-Magnetic Stripe
-Others (Biometric Authentication, RFID)
By End User
-Banking, Financial Services and Insurance (BFSI)
-Retail & E-Commerce
-Travel and Hospitality Companies
Learn More About the Market Report – https://www.marknteladvisors.com/research-library/metal-cards-market.html
Regional Insights:
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Others
- Asia-Pacific: China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia-Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: GCC, South Africa, Egypt, Nigeria, Rest of MEA
Global Metal Cards Market Driver: Increasing Issuance of Metal Cards by Financial Institutions
Over the past few years, governments across the globe, particularly in countries like India, the UAE, etc., have taken initiatives for digitalization. As a result, several industry verticals, such as banks, insurance companies, etc., have adopted digital solutions to streamline the administrative process. This digitalization encourages the adoption of contactless payment solutions such as digital credit cards & debit cards rather than conventional payment solutions such as cash. As a result, banks are increasingly issuing metal payment cards, driving the growth & development of the Global Metal Cards Market.
In addition, in recent years, consumer preferences have also changed. Individuals nowadays prefer flexibility & convenience. As a result, they prefer contactless payment solutions compared to traditional payment methods. Therefore, to cater to the demand of the young generation & millennials, the banks have started offering contactless payment metal cards. For instance,
- In 2023, the Indian Bank partnered with One Card, a metal credit card manufacturing company, to introduce mobile-first, contactless, metal co-branded credit cards.
This increasing adoption of metal cards in the BFSI sector is offering an opportunity for metal card manufacturers like ICK International Inc., CompoSecure, L.L.C., etc. to deliver their unique range of metal cards to banks. Therefore, it is estimated that these factors will drive the growth of the Global Metal Cards Market in the forthcoming years.
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