The global smart card industry has been witnessing dynamic changes for the past few years, and these, in turn, have created significant opportunities for the market participants. New and attractive growth prospects are being witnessed due to EMV (Euro pay, MasterCard, & VISA) migration, Long Term Evolution (LTE) deployment across the globe, and government support. Moreover, the entry of innovative smart card devices in the market will further strengthen the overall industry in the long run.
According to our research report “Smart Card Market Forecast to 2014”, the global shipments of smart cards are estimated to reach around 6.1 Billion units in 2011, growing at the rate of around 11% over previous year. A major chunk of this market is captured by four companies, namely Gemalto, Giesecke & Devrient, Oberthur, and Morpho. Though telecom sector is still the major user of smart cards, other sectors, such as financial services and healthcare are also expected to augment the rate of usage.
Furthermore, the huge demand for smart cards will be seen in emerging markets as some of the key manufacturers in these regions are expanding their market reach. Increasing penetration of 3G, and renowned focus on payment transaction will give a further boost to the momentum. In addition, the liability associated with EMV standard is also driving many banks to issue smart cards. Backed by such positive factors, the global smart card shipments are expected to post a double digit growth (CAGR of around 12%) during 2011-2014.
Contactless technology is the buzzword in the global smart card industry. Increasing demand for contactless smart cards is mainly being fuelled by Near Field Communication (NFC), mass transit projects and e-passports. The volume of secure microprocessor contactless smart card shipment is likely to grow at a CAGR of around 22% during 2011-2014. At the applications front, financial services sector is the key user of contactless smart cards, and e-passports and other identification (ID) applications hold the prominent position in the government sector.
The report is an outcome of an extensive research and in-depth analysis of the global smart card market. It took into account almost all the key aspects of the market. The report is categorized on the basis of industry applications in sectors, like telecom, transport, public sector and financial services, and country wise developments in the smart card sector. The report also investigates the current market trends, and analyzes their impact on the future performance of the industry. Moreover, with a focus on the competitive environment, the report provides a comprehensive description of strengths and weeknesses of the market leaders. Overall, the report aims at providing clients with an optimum source of knowledge and statistics on the smart card industry.