[October 29, 2014]

TechNavio Publishes New Research on the Global Smart Card Market

TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Global Smart Card Market 2014-2018.

Smart cards are portable and cost effective IC cards used for storing, managing and maintaining accounts or data for end-users. The Global Smart Card Market is expected to witness steady growth and post a CAGR of 6.62 percent during the forecast period.

About the Report

The security and technology used in smart cards has evolved over the years to incorporate increased functionalities and storage capacity. This has resulted in increased interest from financial institutions and corporate entities to deploy smart cards, thus leading to the market growth.

The report also highlights the growing popularity of contactless ID cards that are more user-friendly than contact-based cards. Many countries have started deploying contactless e-ID cards in order to strengthen security in their respective regions.

"Countries like France, Russia, Brazil, Indonesia, Poland and Malaysia are expected to experience high adoption of contactless smart cards in the coming years. Likewise, South Africa and Canada are also expected to experience an extensive adoption of smart ID cards," says Faisal Ghaus, Vice President of TechNavio.

Key Information Covered in the Report: