News

Global value of smart cards to top $5B this year

July 19, 2012

Montreal-based Electronics.ca Publications, an electronics industry market research and knowledge network, has announced the availability of a new report, "Smart Card Technologies and Global Markets."

According to the report, the global market for smart cards was valued at $4.7 billion in 2011, and is projected to reach nearly $5.1 billion in 2012 and nearly $7.3 billion in 2017, a five-year compound annual growth rate (CAGR) of 7.4 percent.

The market for smart cards can be broken down into three categories by type: contact, contactless, and dual interface:

Contact cards are projected to account for 4.5 billion units in 2012 and nearly 6.6 billion units in 2017, a CAGR of 7.8 percent. Contact cards account for 67.9 percent of the smart cards market.

Contactless cards are estimated to account for nearly 1.4 billion units in 2012 and nearly 3.1 billion units in 2017, a CAGR of 17.4 percent. Contactless cards account for 18.7 percent of the smart cards market.

Dual-interface cards should account for 922 million units in 2012 and nearly 1.5 billion units in 2017, a CAGR of 10.1 percent. Dual interface cards account for the remaining 13.4 percent of the smart cards market.

Smart cards have become an integral part of the economy, serving various sectors and industries around the world, the study said. Among other factors, growing mobile demand, and an increased focus on (EMV) compliance are fueling the demand for smart cards worldwide.

Further information about the report is available at the Electronics.ca Publications website. 

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