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World smart card market worth $6.6B by 2015

Posted: 11 Nov 2010 ?? ?Print Version ?Bookmark and Share

Keywords:smart card market? Near Field Communications? Machine-to-Machine communication?

Research firm MarketsandMarkets predicts that the total global smart card market will be worth $6.6 billion by 2015, with the telecommunication sector accounting for for almost 53.8 percent of revenues.

MarketsandMarkets says smart cards will hit a CAGR of 7.3 percent from 2009 to 2014.

Smart card shipments reached 5.2 billion in 2009, with growth driven by mobile penetration, acceptance by various governments and increased security and reliability. has effected the growth of smart card shipments, reaching 5.2 billion in 2009. Growth in the coming years will be supported largely by near-field communication (NFC) and machine-to-machine (M2M) communication, growing government ID projects across the globe and EMV compliance. Projected smart card shipment volume by end 2015 is 8.8 billion units.

Asia, especially, India and China have emerged as smart card hotspots with sustained development of the cellular markets and the increasing 3G penetration as well as heightened governmental interest across the region. In EMEA, the consumer electronics market contributes to the lucrative industry, with high adoption of high end smart cards and increasing need for secure transaction and identity and access control.

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