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According to a new market research report, ‘World smart card- advanced technologies, application and global forecast (2008 – 2015)’, published by MarketsandMarkets (www.marketsandmarkets.com), the total world smart card market is expected to be worth US$6.6 billion by 2015, out of which the Telecommunication sector will account for nearly 53.8% of the total revenues. The global market is expected to record a CAGR of 7.3% from 2009 to 2014.
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Growing mobile penetration, surge in acceptance from various governments and increased security and reliability has spurred the growth of smart card shipments, which reached 5.2 billion in 2009. Advent of new form factors such as Near Field Communications (NFC) and Machine-to-Machine (M2M) communication, growing government ID projects across the globe and EMV compliance will support the growth of smart cards for next five years, resulting into 8.8 billion smart cards shipment by the end of 2015.
The smart card market revenue is expected to grow from $4,498.9 million in 2009 to reach $6,600 million in 2015 with a CAGR of 7.3% from 2010 to 2015. EMEA region holds the maximum share of revenue in consumer electronics market on account of technological competence, high adoption of high end smart cards and growing need of secure transaction and identity and access control. The Asian region, especially, India and China have emerged as smart card hotspots with continuous development of the cellular markets and the increasing 3G penetration and increased governmental interest across the region.
The smart card technology is a major driving force for the payment transaction market as it allows customers to make secure payments. Thus, it is expected that microprocessor based smart cards will continue to dominate the smart card shipments, as compared to the memory chip based smart cards. The microprocessor segment has accounted for shipments of 4.5 billion smart cards in 2009, which was 86.5% of the overall shipments (5.2 billion) of smart cards. The report provides extensive analysis of the smart card industry, current market trends, industry drivers and challenges for better understanding of the smart card market structure..
Scope of the report
This research report categorizes the global smart cards market for forecasting the revenues and analyzing trends in each of the following submarkets:
On the basis of smart card interface:
· o Contact smart card
o Contactless smart card
o Hybrid and Dual interface smart card
On the basis of components
· o Microprocessor
o Memory smart cards
On the basis of smart card application in various sectors:
· o Telecommunications sector
o Government IDs and healthcare sector
o Financial services, retail and loyalty sector
o Pay TV sector
o Transportation sector
In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the smart card market in the North America, EMEA, Asia-Pacific, and South America. The report draws the competitive landscape of the global smart card market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over the their competitors.