In 2011, 6.2 billion smart cards were shipped. It is estimated that smart card shipments are forecast to reach 6.8 billion in 2012 and 11.1 billion in 2017, increasing at a compound annual growth rate (CAGR) of 10.3% from 2012 to 2017.
In dollar figures, the smart card market was at $4.7 billion in 2011. It is expected to reach nearly $5.1 billion in 2012 and $7.3 billion in 2017, at a CAGR of 7.4%.
The telecommunications segment shipped 4.7 billion smart cards in 2011. This figure is estimated to reach 5.1 billion in 2012 and 8 billion units by 2017, at a five-year CAGR of 9.6%.
SUMMARY FIGURE A
GLOBAL SMART CARD SHIPMENTS AND VALUE, 2011-2017
Source: BCC Research
BCC's goal in conducting this study was to determine the current status of the global smart card industry and assess its growth potential in recent years (2011 and 2012) and make an educated forecast for the near future (2017). We were particularly interested in knowing what is happening in the smart card market and knowing how smart card projects are being implemented worldwide. In addition, we were interested in the market potential for emerging smart card technologies. The goal of the study also involves grasping basic smart card technologies that are available and in use. Our key objective was to present a comprehensive analysis of the current smart card market and its future direction.
The smart card is the most sophisticated and advanced technology used mainly for payment and authentication purposes. The smart card market is growing at an amazing pace, and we are interested in knowing the trends this market will follow. It will also be interesting to know how smart cards are being utilized for enhancing our daily lives and businesses and making them secure.
The scope of the study includes major smart card technologies, smart card types, platforms, its standards and various applications of the smart card. A major focus of the report is the market scenario of the smart card industry. This report discusses various smart card projects that are being implemented or that are planned around the world. The report is divided into easy-to-follow chapters such as an overview, applications, markets etc., while the markets are divided geographically and breakdowns are given by region, market segment and technology.
Amit Gud is a freelance writer and a published author working with various magazines and e-zines worldwide. His expertise includes technical writing covering smart cards, IT, technological trends along with lifestyle features and world affairs. His articles and features appear regularly in print as well as in online media. His works have been published in the Indian Express and the Mid-Day, two of India's top newspapers, in the Mini World and English Zone, Japanese lifestyle magazines, Publisher's Auxiliary, a community newspaper magazine, Vision Magazine and others.
Amit holds a Master of Science degree in Computer Science from Kansas State University and a Bachelor's degree from the University of Pune, India, with a specialization in operating systems and software storage technology. He has industry experience working with multiple Forbes 100 companies, including NetApp, VMware, Red Hat, Akamai and Symantec. He has published research papers in technical journals and conferences.
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