According to a new market research report, ‘World smart card- advanced technologies, application and global forecast (2008 – 2015)’, published by MarketsandMarkets (www.marketsandmarkets.com), the total global smart card market is expected to be worth US$6.6 billion by 2015, out of which the Telecommunication sector will account for nearly 53.8% of the total revenues. The global market is expected to record a CAGR of 7.3% from 2009 to 2014.
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Growing mobile penetration, surge in acceptance from various governments and increased security and reliability has spurred the growth of smart card shipments, which reached 5.2 billion in 2009. Advent of new form factors such as Near Field Communications (NFC) and Machine-to-Machine (M2M) communication, growing government ID projects across the globe and EMV compliance will support the growth of smart cards for next five years, resulting into 8.8 billion smart cards shipment by the end of 2015.
The smart card market revenue is expected to grow from $4,498.9 million in 2009 to reach $6,600 million in 2015 with a CAGR of 7.3% from 2010 to 2015. EMEA region holds the maximum share of revenue in consumer electronics market on account of technological competence, high adoption of high end smart cards and growing need of secure transaction and identity and access control. The Asian region, especially, India and China have emerged as smart card hotspots with continuous development of the cellular markets and the increasing 3G penetration and increased governmental interest across the region.
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% 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..
Scope of the report
This research report categorizes the global smart cards market for forecasting the revenues and analyzing trends in each of the following submarkets:
On the basis of smart card interface:
With shipments of microprocessor and memory-based smart cards market reaching to 5.2 billion in 2009, smart cards are now further embedded within everyday life for most consumers. Smart cards are being used in various sectors including financial services, retail, and loyalty, telecommunications, government ID, and transportation sectors. The telecommunication sector is the biggest application market for smart cards, accounting for more than 68% of the global smart card shipments in 2009. Growing number of mobile phone subscribers has been the largest contributor, driving sales of SIM cards globally. Use of smart cards in financial services sector has also been rising, supported by increasing migration of magnetic cards to EuroPay, MasterCard and Visa standard (EMV) standard (chip and PIN) cards. The EMV standard mandates the use of smart cards in financial services such as credit/debit/ATM and prepaid cards.
We expect that the global mobile applications market will be worth $6.6 billion by the end of 2015, with a CAGR of 7.3% from 2010 to 2015. Globally, the major driving factors of the smart card market include increasing applications such as machine-to-machine communication, growing security and control needs, multiple uses and interoperability, increasing storage and processing capabilities and reducing cost of the card. Growing use of online payment transactions is also supporting the market growth as smart cards enable consumers to make secure and reliable payments. Use of contactless smart cards in this regard has gained remarkable consideration (with an average year-over-year growth rate of 35% over last five years) and is forecasted to grow at CAGR of 30% during 2010 – 2015.
The growth of allied devices (netbook PCs and GPS) and the emergence of Near Field Communication (NFC) will continue to fuel the growth of the smart card market in both volumes and value. The migration to 3G for key markets such as China and India will bring large volume support for the future smart card industry. The new form factors such as NFC and Machine-to-Machine (M2M) communications markets is expected to experience its early growth in 2010 in areas like micropayments and automotive diagnostics respectively.
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About us
MarketsandMarkets (M&M) is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services.
M&M covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. To know more about us and our reports, please visit our website www.marketsandmarkets.com
Contact:
Ms. Sunita
108, West 13th Street,
Wilmington
DE, 19801
County of New Castle
Tel: +1-888-989-8004
Email: sales@marketsandmarkets.com
Browse 35 market data tables and in-depth TOC on Mobile applications Market.
Early buyers will receive 10% customization of reports
http://www.marketsandmarkets.com/Market-Reports/smart-card-285.html
Growing mobile penetration, surge in acceptance from various governments and increased security and reliability has spurred the growth of smart card shipments, which reached 5.2 billion in 2009. Advent of new form factors such as Near Field Communications (NFC) and Machine-to-Machine (M2M) communication, growing government ID projects across the globe and EMV compliance will support the growth of smart cards for next five years, resulting into 8.8 billion smart cards shipment by the end of 2015.
The smart card market revenue is expected to grow from $4,498.9 million in 2009 to reach $6,600 million in 2015 with a CAGR of 7.3% from 2010 to 2015. EMEA region holds the maximum share of revenue in consumer electronics market on account of technological competence, high adoption of high end smart cards and growing need of secure transaction and identity and access control. The Asian region, especially, India and China have emerged as smart card hotspots with continuous development of the cellular markets and the increasing 3G penetration and increased governmental interest across the region.
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% 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..
Scope of the report
This research report categorizes the global smart cards market for forecasting the revenues and analyzing trends in each of the following submarkets:
On the basis of smart card interface:
-
- Contact smart card
- Contactless smart card
- Hybrid and Dual interface smart card
-
- Microprocessor
- Memory smart cards
-
- Telecommunications sector
- Government IDs and healthcare sector
- Financial services, retail and loyalty sector
- Pay TV sector
- Transportation sector
- Others
With shipments of microprocessor and memory-based smart cards market reaching to 5.2 billion in 2009, smart cards are now further embedded within everyday life for most consumers. Smart cards are being used in various sectors including financial services, retail, and loyalty, telecommunications, government ID, and transportation sectors. The telecommunication sector is the biggest application market for smart cards, accounting for more than 68% of the global smart card shipments in 2009. Growing number of mobile phone subscribers has been the largest contributor, driving sales of SIM cards globally. Use of smart cards in financial services sector has also been rising, supported by increasing migration of magnetic cards to EuroPay, MasterCard and Visa standard (EMV) standard (chip and PIN) cards. The EMV standard mandates the use of smart cards in financial services such as credit/debit/ATM and prepaid cards.
We expect that the global mobile applications market will be worth $6.6 billion by the end of 2015, with a CAGR of 7.3% from 2010 to 2015. Globally, the major driving factors of the smart card market include increasing applications such as machine-to-machine communication, growing security and control needs, multiple uses and interoperability, increasing storage and processing capabilities and reducing cost of the card. Growing use of online payment transactions is also supporting the market growth as smart cards enable consumers to make secure and reliable payments. Use of contactless smart cards in this regard has gained remarkable consideration (with an average year-over-year growth rate of 35% over last five years) and is forecasted to grow at CAGR of 30% during 2010 – 2015.
The growth of allied devices (netbook PCs and GPS) and the emergence of Near Field Communication (NFC) will continue to fuel the growth of the smart card market in both volumes and value. The migration to 3G for key markets such as China and India will bring large volume support for the future smart card industry. The new form factors such as NFC and Machine-to-Machine (M2M) communications markets is expected to experience its early growth in 2010 in areas like micropayments and automotive diagnostics respectively.
Contact our representative to sponsor this report
About us
MarketsandMarkets (M&M) is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services.
M&M covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. To know more about us and our reports, please visit our website www.marketsandmarkets.com
Contact:
Ms. Sunita
108, West 13th Street,
Wilmington
DE, 19801
County of New Castle
Tel: +1-888-989-8004
Email: sales@marketsandmarkets.com
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