Press Release

Global Metal Cards Market to Accelerate at a CAGR of Around 16% During 2024-30

The Global Metal Cards Market is anticipated to grow at a CAGR of about 16% during the forecast period of 2024–30, cites MarkNtel Advisors in the recent research report. During the historical period, countries like India, Mexico, etc., witnessed a proliferation of internet connectivity and smartphone usage. This widespread internet access across these nations has reshaped the Banking, Financial Services and Insurance (BFSI) sector globally since individuals are now seeking alternative digital transaction technologies. Therefore, financial institutions have started promoting the adoption of metal cards to facilitate digital transactions over cash payments. Hence, the Global Metal Cards Market has witnessed growth in the past few years.

In recent years, governments have also launched digitalization initiatives to encourage the adoption of digital solutions in several industry verticals to streamline administrative processes. This shift towards digitalization has spurred the adoption of contactless payment solutions, including digital credit and debit cards, over traditional cash-based transactions. Consequently, banks are increasingly issuing metal payment cards, thereby propelling the growth of the Global Metal Cards Market.

Moreover, consumer preferences have evolved in recent years since individuals now prioritize flexibility and convenience in their payment methods. As a result, there is a growing preference for contactless payment solutions over customary payment methods. Therefore, banks have begun offering contactless payment metal cards to cater to this shifting consumer landscape. Subsequently, this is augmenting the growth & expansion of the market, further states the research report, “Global Metal Cards Market Analysis, 2024.”

Segmentation Analysis

Stainless Steel Holds a Substantial Share of the Market

Based on the material, the market is further bifurcated into Stainless Steel, Titanium, Brass, Copper, Gold, Silver, and Others (Aluminum, Titanium, etc.). Stainless steel emerged as one of the most preferable materials since metal cards crafted from stainless steel are highly durable. The high durability & strength offered by the stainless steel material reduce the risk of damage & deformation to the metal cards. Moreover, stainless steel makes the metal cards highly resistant to corrosion & rust and offers superior structural integrity, which makes the metal cards more durable.

In addition, stainless steel is readily available and is low-cost compared to other materials like gold & silver. Therefore, the manufacturers opt for stainless steel as a primary raw material to bolster profitability, augmenting their presence in the Global Metal Cards Market.

North America Leads the Global Metal Cards Market

Several financial institutions in North America are progressively embracing cutting-edge payment technologies and adopting novel payment methods, including metal cards equipped with smart chip technology, to align with the digitalization plans & programs launched by governments. In addition, the banks in the North American region are offering premium banking products like metal cards to set themselves apart in the market, accentuating market growth & expansion.

Additionally, there has been a heightened awareness of environmental sustainability and the adverse impact of plastic waste. Therefore, environmentally conscious consumers in North America are seeking eco-friendly alternatives for their financial transactions, enhancing the demand for eco-friendly metal cards in the region.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including 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.) are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the regions?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?