Delhi, India (PressExposure) April 07, 2009 -- The global smart card industry continue to grow at double digit growth rate in the backdrop of growing security needs, possible multiple usage and increasing usage of EMV standard. Volume shipments of smart cards surpassed 5 Billion units in 2008. This figure is projected to rise at a CAGR of nearly 11% by 2012, with Asia Pacific to experience the fastest growth rate in near term, says our new research report, âSmart Card Market Forecast to 2012â.
Large consumer base, growing industrial sectors and a dire need for security are the major factors contributing to the strong demand for smart cards in the Asia Pacific region. For instance, China alone is estimated to have sold more than one billion smart cards in 2008 while Japan sold around 200 Million units.
From application perspective, telecom sector is the dominant sector embracing the use of smart cards in the region largely due to the rampant SIM card sales amidst rapidly expanding mobile subscriber base. Commercial roll-out of 3G services in countries like India and China in 2009 will also raise sales of smart cards in the Asia Pacific telecom sector. Besides, the increasing usage of EMV standard across financial sector is anticipated to prop up smart card sales over the forecasted period.
âSmart Card Market Forecast to 2012â provides exhaustive information along with rationale analysis on the smart card industry worldwide. It evaluates the current industry performance and its future prospects while highlighting the key trends in the industry. It facilitates clients to analyze and identify the future growth potential of smart cards in various applications including telecom, transport, financial and public sector.
This report also provides insight into the country level initiatives in various applications that are driving smart card sales in a particular country. The countries covered in the report are decided on the basis of existing opportunities that could create demand for smart cards.
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