Contactless Cards Market Poised for Healthy Growth

Rapid uptake of Near Field Communication and widespread adoption of contactless transportation and payment systems will fuel the market, says RNCOS.

NOIDA, India (prHWY.com) May 20, 2011 - Contactless smart card technology is a proven smart card technology that has been witnessing a high usage in various business applications. Contactless smart cards are the result of a series of technological developments in the smart card industry during the recent past. These smart cards have the ability to manage, store, protect, and provide access to secure data. Moreover, this technology delivers durability, reliability, and convenience required for fast transactions in demanding environments.

According to our research report "Smart Card Market Forecast to 2012", the volume of shipment of contactless smart card is anticipated to surge at a CAGR of around 24% during 2011-2013. The key factor, which may contribute to the future growth of the contactless smart card market, will be the rollout of NFC, which will be supported by the widespread adoption of contactless transportation and payment systems. Recent years have witnessed contactless transportation making greater inroads into public transport systems around the world, with some notable switches to contactless single use ticketing as well.

According to our study, the rapid uptake of contactless payments from mobile phones and cards will raise the shipments of contactless smart cards during the next few years. Besides, the governments across the globe are playing an important role in facilitating the electronic payment mechanism. At the application front, banking and retail accounted for the maximum usage of contactless smart card followed by government ID-healthcare and transportation. Telecom sector has yet to implement contactless smart secure devices.

"Smart Card Market Forecast to 2012" studies the global smart card market by technology and by applications. The report analyzes leading countries including the US, Canada, India, China, South Korea, Malaysia, Australia, the UK, Germany, Spain, the UAE, Qatar, Oman, Bahrain, and South Africa. Our study provides recent industry trends with analysis of industry constraints and key players. A comprehensive view of smart card market across the world and latest developments have also been presented to help clients make decisive investment decisions.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM007.htm

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About RNCOS:

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.

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Tag Words: smart card market

Categories: Finance

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