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Contactless smart card market set to grow
24 Aug 2010

The contactless smart card industry is expected to grow rapidly over the next six years, according to new research.

Frost & Sullivan has revealed that contactless cards are expected to account for 50 per cent of the market in 2016, compared to last year's figure of 23 per cent.

Overall, the global smart card sector, including both contact and contactless cards, was worth $1.9 billion (£1.2 billion) in 2009.

Reuben Fong, research director at Frost & Sullivan, claimed the growing popularity of near-field communication (NFC) technology has boosted the industry.

He said: "The world is already prepared to roll out NFC commercial projects with a small number of commercial projects having already begun and more than 200 pilot projects already completed across the globe.

"In Asia-Pacific, we can expect large-scale mobile NFC deployments in the next one to two years."

The Asian contactless smart card market is expected to be boosted by the completion of government initiatives such as e-passports and transit cards.