Research and Markets Forecasts 8.8 Billion Smart Card Shipments by 2014

Research and Markets has announced the addition of the “World Smart Card - Advanced Technologies, Application and Global Forecast” report to its offering.

According to the report, Smart Card Market 2008-2015, the global shipments of smart cards are expected to reach about 8.8 billion units by 2015 from 5.2 billion units in 2009, growing at a CAGR of 9.6 percent during 2010-2015. Rising awareness about the benefits of the smart cards in access and identity security and growing adoption in sectors such as telecommunications, health care, and banking have been responsible for the continuous growth of the smart card market. The growing penetration of mobile phones has made telecommunications sector the largest consumer of smart cards globally in the form of SIM (subscriber identification module).

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 percent 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.
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