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Secure Transactions News

World smart card market to be worth US$ 6.6 billion by 2015

Thursday 18 November 2010

According to this report, smart card shipments reached 5.2 billion units in 2009. 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 analyst firm anticipates that smart card market revenue will grow from US$ 4,498.9 million (EUR 3,314 million) in 2009 to US$ 6,600 million (EUR 4,860 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.

Microprocessor based smart cards are expected to 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. Headquartered in Dallas, Texas, US, markets and Markets has its Intelligence Center in Pune, India.