Global EMV Card Market 2025–2034

Reports Description

EMV Card Market The EMV Card Market size was valued at USD 26.67 Billion in 2025 and is expected to reach USD 60.11 Billion by 2034, at a CAGR of 9.48% during the forecast period 2025 – 2034.

An EMV card is a payment card with an embedded microchip created according to specifications defined by various regulatory authorities. EMV cards are more secure, as the microchip creates a unique transaction identification number with each payment, which makes card details harder to replicate.

EMV cards are used worldwide for both offline and online payments. The magnetic stripe card is anticipated to be phased out because of increased security. The global EMV card market is driven by growing payment fraud and increased use of digital payments.

Also, emerging markets and regulators are putting more pressure on fuel supply. Issuers and payment service providers profit from the transition to EMV technology.

Source: World Bank

EMV Card Market: Growth Factor

Rising Adoption of Contactless Payments

The rise of contactless payments is one of the most impressive shifts occurring in the EMV card market today. There is a growing desire among consumers for new payment methods that are quick, easy, and secure.

Tapping their card or EMV mobile devices at enabled points of sale (POS) using NFC technology has made contactless payments the preferred method of transacting in many industries. In a high-speed environment, EMV cards with NFC capabilities must be perfectly positioned to meet this growing demand.

The ease and speed of using contactless payments not only improve the consumer experience but also make business operations more efficient. In addition, the concept of health consciousness has accelerated due to the COVID-19 pandemic.

It has accelerated the adoption of contactless payments. This is because it reduces physical contact with the payment terminal. It is a hygienic alternative to swiping or inserting a traditional card. As contactless payments increasingly penetrate everyday life, many issuers and financial institutions are integrating NFC technology into their EMV cards to boost access and drive usage.

This is one of the most significant drivers for upgrading the overall EMV card market to the most recent security systems. Consumer and business interests are driven by seamless payment systems.

Increasing Cybersecurity Threats

The rapidly expanding digital payments landscape boosting the urgency to address increasing cybersecurity threats as more and more people rely on online shopping, mobile payment, and digital wallets, the risk of fraud, data breaches, and cyberattacks has become a major concern for consumers and businesses.

The use of EMV cards developed with embedded chip technology began to stem the growth of skimming, hence driving the growth of the EMV card market. While magnetic stripe cards are easy to clone since they only contain static information, EMV cards generate dynamic encryption for each transaction.

Such technology renders data copying or falsifying virtually impossible for criminals. This feature prevents high levels of fraud that consumers and financial institutions would have suffered without it. Beyond mitigating card-based fraud, EMV cards further enhance the security for remote and online transactions with the aid of EMV-3D security, which offers an additional layer of authentication for even safer transactions.

The improvement of EMV technology has appealed to EMV-seeking consumers for added security and banks looking to mitigate payment fraud risk, which is why the security features are indeed of interest. This change towards cybersecurity is moving the world to embrace EMV, which is a positive step towards a credible and secure payment ecosystem.

EMV Card Market: Restraint

High Implementation Costs

An apparent challenge to the adoption of EMV cards globally is the significant operational costs associated with changing from magnetic stripe card systems to EMV card systems, and this pattern restrains the EMV card market growth. EMV devices necessitate considerable financial investment in infrastructure by financial institutions, merchants, and manufacturers of the cards themselves that comply with the EMV regulations.

Payable investment includes changing non-compliant point-of-sale (POS) systems. EMV can be expensive for businesses, especially for small and medium-sized enterprises (SMEs), in addition to software updates. Employee training and the new EMV card must also be added to the financial burden.

For small businesses, these costs can be a real deterrent. This has resulted in slower adoption rates in some regions and industries. While large companies and financial institutions can absorb these costs, SMEs have difficulty justifying their initial investment. This is especially true in developing markets where margins are tighter.

EMV Card Market: Opportunity

Biometric and Multi-Factor Authentication

Integrating biometric multi-factor authentication (MFA) with EMV cards is an interesting opportunity in the evolving payment landscape. Thus, this is expected to drive the growth of the EMV card market. This is because security is a primary concern in digital and physical transactions.

Therefore, biometric authentication methods such as fingerprint scanning, face recognition, and voice recognition are more reliable, convenient, and secure for user authentication. By incorporating these specific characteristics, the device allows card issuers to effectively tackle the issue of fraud and unauthorized use of EMV cards.

Users will take advantage of quick and hassle-free payments. Therefore, biometric identification improves the transaction process as people do not have to memorize a PIN or sign any documents. This configuration offers both enhanced security and instils greater assurance amongst users with regard to the safety of their sensitive data.

The emerging necessity for efficient payment systems is a business opportunity for many technology development companies specialising in biometrics. Introducing these technologies into the environment of EMV cards will capture this ever-growing market segment.

Furthermore, combining biometric authentication and EMV standards will open avenues for revenue, partnership, and innovation. This applies to business consumers and end users when shifting to modern security. Innovations in EMV cards have the greatest chances of success, as far as these technologies go, because they can better resist tampering.

EMV Card Market: Segmentation Analysis

Based on Application, the retail segment held the highest market share in 2024 and is expected to keep its dominance during the forecast period owing to the growing adoption of EMV cards for securing the process. Making payments helps merchants reduce fraud risk and make transactions smooth.

The BFSI sector is expected to grow ata  significant growth rate during the forecast period because banks and financial institutions adopt EMV cards to increase security, follow the rules and meet the growing demand for chip-based debit and credit cards, driving the overall EMV card market growth.

EMV cards in the hospitality industry are revolutionizing the guest experience by facilitating fast and secure check-in, check-out, and in-room payments. For billing purposes, EMV cards are also prevalent in healthcare. This is very useful as private information about the patient is never compromised during billing.

Another important application is in transportation. EMV technology allows an automated ticketing and fare collection system to work efficiently. In certain fields like education and public services, EMV Card serves as an advantage when it comes to identifying verification and limiting access as they are not easy to forge. The increasing adoption of EMV technology in these fields demonstrates the great potential of EMV technology in fulfilling the increasing requirements of various sectors for security and convenience.

Report Scope

EMV Card Market: Regional Analysis

By Region, the Asia Pacific region dominated the market in 2024 and is expected to keep its dominance during the forecast period, propelled by the rise in the adoption of secure payment solutions across the region. Bearing in mind that the economy is becoming digital at an accelerating pace and that concerns about payment fraud persist, EMV cards have become the de facto standard for making payments for financial institutions and consumers alike.

With the government’s modernization initiative, expanding e-commerce and increasing market penetration of contactless payment technology, countries such as China, India and Japan are leading the way in leveraging advanced chip technology to increase transaction security and user convenience. In addition, the shift towards a cashless economy and the increasing popularity of wearable mobile payment integration are driving demand for EMV cards in Asia Pacific.

The European market for EMV cards is growing fast due to a strong regulatory framework and general acceptance by consumers of safe payment solutions. This region is minimizing card fraud and gaining payment security with a high adoption level of EMV-compliant cards and terminals. Saha, already among the leaders in the United Kingdom, Germany and France, has made great strides in the enablement of contactless payments.

The increasing use of digital wallets and mobile payment applications has brought the use of EMV technology into everyday payments. Also, Europe’s considerable Internet commerce base is increasing the need for these methods of secure payment authentication.

Greater efforts for standardization of payment methods within the EU and other initiatives like PSD2 are changing the mode of payment technology they used to have in Europe. Advanced features of EMV payment systems are automatically accepted in the EU due to these changes, strengthening Europe’s position as a leader of secure payment technology.

North America region is expected to hold a significant market share in the global market due to the growing adoption of the contactless payments in the U.S., Canada and Mexico. Various factors, such as growing stringent regulations pertaining to digital payments, supportive government policies, the presence of well-developed economies and growing investment in technological innovations, are mainly driving the market growth of this region.

EMV Card Market: Competitive Landscape

In the EMV Card market, competition is fierce, with leading companies such as Gemalto (Thales Group), IDEMIA, Infineon Technologies, Giesecke+Devrient and NXP Semiconductors leading the market.

These corporations control the market by their chip and product innovations, security improvements, and expanding their product portfolios. Tensions are heightened with increased growth in demand for contactless payment systems and the rush for digitalization worldwide as a force.

Emerging regional markets, especially in Asia-Pacific and Europe, are experiencing rapid growth due to strict regulations and enhanced payment security knowledge. Newer markets are attractive to competition because of the formation of new entry maneuvers with banks.

Technological developments such as Biometric based authentication and dual-interface cards are significantly influencing the forces within the industry, pushing participants to allocate for development expenditure. The competitive forces within the EMV card market under price competition, changing norms, and collaboration—or lack thereof—further define the market competition dynamics.

• dz Card (International) Ltd
• Giesecke+Devrient
• ID Tech Solutions
• InSolutionsGlobal
• IDEMIA
• Infineon Technologies
• Masria Digital Payments
• MCT Cards & Tech.
• M-Tech Innovations
• NXP Semiconductors
• PCPL
• Seshaasai Business Forms (P) Ltd
• Siepmann’s Card System
• SMART CARD IT SOLUTIONS LIMITED
• Thales
• Toppan Gravity
• Versatile Card Technology
• Others

The EMV Card Market is segmented as follows:

By Card Type

• Credit Cards
• Debit Cards

By Application

• Retail
• Banking, Financial Services, and Insurance (BFSI)
• Hospitality
• Healthcare
• Transportation
• Others (e.g., government, education)

By End-User

• Consumers
• Merchants

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America