World Smart Card Market Worth US$6.6 Billion By 2015

According to a new market research report, ‘World Smart Card- Advanced Technologies, Application and Global Forecast (2008 – 2015)’, published by MarketsandMarkets, 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.
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.