Share: ResearchAndMarkets.com's offering. The global smart card market is expected to grow at a compound annual growth rate of 6.82% over the forecast period to reach a market size of US$14.114 billion in 2026 from US$8.894 billion in 2019. The market is expected to surge in the coming years, because of the rise in the need for security applications and services, that employs critical and imperative information and data, documents, and several other credentials. The adoption of contactless smart card technology is also expected to be a major factor in overall market growth. The market is also expected to surge because of the rise and advancement in the financial and banking sector, worldwide. According to the world bank, a robust banking structure, and system, efficiently flow and send funds towards their productive tasks and uses, maintain financial safety nets, help governments raise investment capital, and speed payments, globally.