Smart Cards: A Global Outlook
San Jose, California (PRWEB) February 09, 2012
Follow us on LinkedIn – The global market for smart cards is currently traversing on a double-digit growth path driven largely by major initiatives in the financial, government and security sectors while the telecom sector continues to be the largest end-user with no nearest contender so far. With faster processing speeds and enhanced storage capacities, smart cards of late have also forayed into a number of newer applications even while the existing applications demonstrate immense potential for future growth. While rising security concerns lead the way for rapid proliferation of smart cards in security and identity markets, growth in the financial end-use sector is propelled by the EMV migration across the world. Improvements with regard to interoperability with existing systems could go a long way in encouraging implementation of projects in the future. Region wise, major growth is expected in the EMEA with usage portended to skyrocket in the transportation application end-use area particularly. In the Americas on the other hand, growth would be largely driven by governmental initiatives to introduce smart cards into several industry segments while Japan and South Korea offer immense potential for future growth in terms of technological improvements.
Mandatory migration to the EMV (EuroPay, MasterCard and Visa) standard brought forth opportunities for the smart cards industry, serving the banking-retail sector particularly. Nevertheless, despite the overall healthy outlook, the need for compatible standards continues to remain largely unmet with interoperability and migration costs of smart cards being some of the major concerns confronting manufacturers. Smooth integration of the smart card technology with the existing systems is still an expensive affair although certain improvements in this direction are being reported frequently. In addition, lack of smart card infrastructure is also hampering growth in some of the markets. Consumers are also wary about privacy and data security and all these issues are to be effectively sorted out by technology developers.
The global market for SIM cards witnessed robust growth, fuelled by the transformation of the market, with regard to network operators, technology vendors, handset manufacturers, service providers and applications. With the introduction of mobile-broadband services, sales of mobile devices based on latest technologies (such as smartphones) exceeded those of laptops. The advent of advanced services is contributing to the increased demand for SIM cards with integrated capabilities (services, applications and content), in line with the requirements of the wireless sector. Additionally, the continued adoption of 3G-services has enhanced the demand for 3G-enabled cards, which account for about 14.3% of overall SIM sales. Maximum growth is likely to stem from the emerging markets of India, Latin America, Middle-East & Africa, and Greater China.
The research report titled “Smart Cards: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report analyzes the demand scenario for smart cards in telecom, identification, financial/banking services, security, and mass transit sectors. The report offers a review of recent developments, mergers, acquisitions, and other strategic industry activities. Regional markets briefly abstracted and covered include US, Canada, France, Germany, China, India, Japan, South Korea, Vietnam, Philippines and Latin America. Market discussions in the report are punctuated with fact-rich market data tables. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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