Noida, India (PressExposure) October 13, 2009 -- The global smart card industry has been continuously expanding, with companies across the world identifying its true potential. The growing security needs, possible multiple usage and greater storage capability are driving growth in the smart card market worldwide and will continue to do so in future also. Given these benefits and ongoing uptrend, the global smart card industry shipment is anticipated to surge at a CAGR of more than 10% during 2009-2012, says our new research report, âSmart Card Market Forecast to 2012â.
We have done an extensive research and analysis of the global smart card industry to identify the current market trends and future growth prospects that enable clients to comprehend dynamics of the industry. We have given reliable statistics and unbiased analysis of segments where the smart card technology is making strong headways.
The report studies the global smart card industry by segmenting it into the Americas, Europe Middle East and Africa (EMEA) and Asia Pacific. It helps in analyzing current performance and future outlook of the smart card industry at regional level.
The report finds that the Asia-Pacific region will emerge as the fastest growing market for smart card shipment over the forecast period. Various factors that clearly indicate huge growth potential in the Asia-Pacific region have been comprehensively covered in our report. Rapidly growing bankcard penetration and mobile subscriber base in countries like India and China will raise sales of smart cards in Asia Pacific over the forecast period.
Besides this, âSmart Card Market Forecast to 2012â gives thorough analysis of various other applications along with their respective market share and future growth potential. Our research anticipates that the transport sector will experience the highest growth in usage of smart cards worldwide at a projected CAGR of nearly 26% over the forecast period. The banking sector represents an area of tremendous opportunities for the smart card industry because its functionalities, such as value-added services and enhanced consumer benefits, have made smart card viable and the safest option for end users. Thus, the demand for smart cards is expected to grow at an unprecedented rate in coming years.
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