Australia Smart Card Market Report and Forecast 2024-2032

Australia Smart Card Market Outlook 

The Australia smart card market size reached USD 450.80 million in 2023. The market is expected to grow at a CAGR of 3.4% between 2024 and 2032, reaching USD 613.21 million by 2032.  

Key Takeaways:

• According to the Australian Bureau of Statistics, health service utilisation in 2022-23 were similar to that of 2021-22, with similar percentages seeking medical specialists (37.9% vs. 38.9%) and hospital emergency department visits (15.2% vs. 14.8%), boosting smart card usage.

• According to the Australian Banking Association, Australia is home to 95 banks employing 185,778 staff members, catering to 22.9 million customers, thereby contributing to the Australia smart card market growth.

• In 2021, the domestic market recorded 1,049,831 fresh vehicle transactions, as reported by the International Trade Administration, driving the demand for driving license cards.

Hybrid smart cards are instrumental in driving the Australia smart card market, as they amalgamate advantages from both contact and contactless technologies, providing dual-tiered security for data storage and transactions

Hybrid smart cards provide heightened security with dual layers of contact and contactless technologies, versatility in applications, seamless interoperability, reduced physical wear, user convenience, dual data storage functionality, and easy integration into existing systems. 

Contactless smart cards offer swift transactions, convenience, encryption-based security, hygiene advantages, durability, mobile device integration, scalability, and user-friendly tap-and-go functionality across various sectors. 

NAB's groundbreaking virtual corporate credit card revolutionized Australian banking, providing an eco-friendly solution for streamlining business expenses. The NAB Virtual Corporate Card enabled organizations to instantly generate virtual cards for employees and contractors, usable across apps, online platforms, and in-store purchases, seamlessly integrating with digital wallets like Apple Pay or Google Pay.

Market Segmentation

Australia Smart Card Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Communication

• Contactless Smart Cards

• Contact-Based Smart Cards 

Market Breakup by Component 

• Memory Based 

• Magnetic Stripes

• Microcontroller Based

Market Breakup by Application 

• ID Verification

• National Security

• Social Card  

• Transportation  

• Others

Market Breakup by End Use 

• BFSI

• Telecommunication

• Healthcare

• Government

• Transportation

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia smart card market key players are AriadCard Pty Ltd, CardServ, Placard Pty Ltd, Unicard Systems Pty Ltd and Custom Plastic Cards among others.

Key Highlights of the Report