The global market for smart cards has been advancing at a rapid pace for the past few years, and the success of contactless cards in the US has been phenomenal. These cards have already become the most important market driver for the development of bank-issued contactless cards in the United States. According to a new research report by RNCOS, “Smart Card Market Forecast to 2014”, the volume of contactless payment cards in circulation in the US is expected to grow at a CAGR of around 26% during 2009-2012 to reach 140 Million Units, with the growing usage of such cards in the country.
Increasing level of awareness, growing security needs and other prominent factors have given a boost to the market in the recent years, with the total smart card shipments estimated to reach the mark of 6.1 Billion Units in 2011. The future landscape for the smart card market looks promising with the successful commercialization of the micro-payment system in regions, such as Asia, North America, and Europe.
The report covers almost all the key aspects of the global smart card market, and looks into the past and present trends, the potential growth areas and challenges to understand the market dynamics. The study, an outcome of a wide research and thorough analysis of the global smart card market, not only provides statistics on the smart card shipments in telecom, transport, financial services and public sectors, but also discusses the important activities of key companies in this segment.
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