On the back of rising awareness regarding the true potential of smartcards, the global smart card market has been witnessing continuous growth. The world is seeing an increase in the number of smart card projects across all geographical locations, signifying the flexibility and robustness of the technology. Moreover, various factors like multiple usage, increased storage capacity, faster processing speed and ever increasing security concerns has been driving and will continue to drive the smart card market. The global shipment of smart cards is expected to reach an estimated 5.4 Billion Units by 2009 end, and this figure is projected to surge at a CAGR of nearly 13% during 2010-2012, according to “Smart Card Market Forecast to 2012”, a recent market research report by RNCOS.
Our research report has broadly categorized the applications of smart cards in telecom sector, transport sector, public sector and financial sector, identifying the sectors which will drive the growth of the smart card market. Our research projects that much of this growth will be seen in telecom and financial/retail/loyalty applications, with their unit shipment surging at an anticipated CAGR of nearly 13% and 17% respectively during 2010-2012. The telecom sector will be the biggest application market for smart cards in future, occupying around 70% of the global smart card shipment by 2012 end.
As the smart card technology allows the customers to make reliable and secure transaction, there is tremendous growth potential in the online payment transaction market. Use of microprocessor contactless smart cards in this regard has gained remarkable consideration, and is expected to grow at CAGR of around 25% during the forecast period.
Our report studies the global smart card market by segmenting it into various geographical locations like the Americas, Europe Middle East and Africa (EMEA), and Asia. Our research also provides detailed country level analysis, which demonstrates the current market performance and future outlook of the smart card industry in the country. Besides this, our report provides analysis of the key smartcard players in the world including their strengths and weaknesses.
“Smart Card Market Forecast to 2012” provides extensive research and exhaustive analysis of the smart card industry worldwide. It gives an insight into the current market trends and growth prospects of the smart card industry while substantiating the data with unbiased and coherent research.
