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Report: Security driving smart card industry

Monday, August 2, 2010

A new report from ABI Research reveals that the security sector is driving growth in the smart card industry, according to esecurityplanet.com.

“New revenues are coming from contactless/dual-interface cards and more applications require the greater security offered by smart cards. There remains a small, but solid, memory-based market, but higher-end secure microcontroller ICs and embedded solutions are driving the new growth. As a result of this and re-stocking inventory, we forecast that IC revenues will grow nearly 14% in 2010,” said ABI Research analyst John Devlin.

ABI found that Gemalto is the top smart card manufacturer with 33.8% of the market share, while Infineon, with a 26.3% share, pulls in the most revenue among the integrated circuit card (ICC) providers.

ABI also reported that 5.2 billion smart cards were shipped in 2009, and given the upward trend of customer demand and fast-paced technological developments, the firm expects that number to increase substantially in the future.

India is emerging as one of the world’s fastest growing smart card markets, according to a new research report by RNCOS. With more than one billion in population and increasing modern application areas, India is anticipated to grow at a compound annual growth rate of approximately 15% during 2011-2014.

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