Useful links:
Transit News | Transit Press Releases | sQuid schemes - Transit

eMoney News

Global smart card market to grow
11 Aug 2010

The global market for smart cards is expected to grow significantly over the next several years, with annual shipments rising from 5.5 billion in 2009 to 8.5 billion by 2013.

That is according to research by RNCOS, which found that the rising popularity of electronic commerce and increasing security concerns will be some of the factors driving demand for both conventional and contactless smart cards.

The industry research company's Smart Card Market Forecast to 2013 showed that the Asia-Pacific region will account for the largest slice of the market by the end of the period, followed by Europe and the Americas.

Shipments of microprocessor contactless smart cards are expected to grow at a compound annual growth rate (CAGR) of 24 per cent during the forecast period.

Within the Asia-Pacific region, it found that countries like India and Japan will grow at a CAGR of approximately 16 per cent and 26 per cent respectively.

The transport sector is expected to remain one of the biggest smart card users, along with telecoms, finance and public sectors.