ContactlessNews | Report: Rapid growth expected for MENA smart card market

Thursday, December 23, 2010

Frost & Sullivan has released a new report predicting substantial growth for the Middle East North Africa (MENA) region’s smart card market over the three years, according to squidcard.com.

Frost & Sullivan says MENA’s smart card revenue will reach $328.5 million in 2014, up from $229.3 million in 2009. This constitutes a compound annual growth rate of 10.8%.

F&S also says that MENA’s smart card suppliers are looking at providing products for both the public and private sector, such as in driver’s licenses and mobile phones.

“The market is likely to get an additional boost from the usage of smart payment in both metros and road transportation,” says Bharath K, Frost & Sullivan senior research analyst.

Read more here.

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