New research shows just over 2.1 billion EMV cards were issued worldwide in 2014, up 27.5% from 2014. The exponential year-on-year (YOY) growth rate was driven by significant EMV issuance into the United States and China.
EMV card issuance in the USA in 2014 was up 187 million units when compared to 2013 and China continued its steep EMV issuance path deploying approximately 685 million cards in the same year. If China and the United States were excluded from the forecast analysis, 2014 global YOY shipment growth would have totaled a mere 6.6%, highlighting the important impact these two nations are having on the global scene.
Despite the positive global outlook because of China and the United States, double-digit YoY shipment growth in excess of 20% will prove a short-term phenomenon. As the United States and China reach their respective saturation points, localized growth within each country will slow, with annual shipments forecast to settle in the 500 million and 700 million range, respectively. With a limited number of countries still to commit to EMV migration, vendor focus is turning to what limited opportunity remains.
This Payment and Banking Card Technologies market data is comprised of data points across all major regions and 30 individual countries with smart / EMV and mag-stripe data splits across ATM only, credit, debit and open loop pre-paid cards
For data, background and forecasts on EMV: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).