In the recent decade, China's technological developments began edging up against the rest of the world. Hence, it does not come as a surprise when the country has been cited as the largest smart cards markets in terms of shipment units by 2015. That will mean an impressive 40% representation of the world's shipments in the following year!
Investors who are looking at entering the Chinese market can examine sectors presenting extensive opportunities in smart cards developments, such as the Chinese Government, Healthcare, and Citizen ID market. In a nutshell, the global smart cards market is undeniably promising, with a threefold increase in shipment units from now till 2017, where the industry will be valued at $7.3 billion by then.
If you are looking into entering the smart cards industry, you may want to find yourself an area to start with. The smart cards market consists of three categories, mainly, contact, contactless, and dual-interface. Reported by Electronics.ca Publications, world shipment units are set to grow as follows:
- Contact (majority of smart cards market, 4.5 billion to 6.6 billion from 2012 to 2017)
- Contactless (1.4 billion to 3.1 billion from 2012 to 2017)
- Dual-interface (922 million to 1.5 billion from 2012 to 2017)
With smart cards applications expanding by the day, its uses now encompass SIM cards and telecommunications, loyalty cards, digital security content, e-commerce, healthcare informatics, enterprise and network security, medical device control, and many more.
Besides China, Asia Pacific (APAC)'s overall demand for Smart Cards is moving northwards as well. For investors who are interested in the smart cards industry in APAC, including China, look out for Asia's leading cards and payments event!