The smart cards market will likely grow at a compound annual growth rate (CAGR) of 9.0% until 2020 says forecaster RAM Research. The Asia Pacific smart cards market is estimated to grow at a CAGR of 10.1% from 2014 to 2020.
Asia Pacific was the largest revenue contributor in the global smart card market of 2013, accounting for nearly a 50% share of global revenue. China, India, South Korea, and Japan are expected to be the major contributors to the market in the near term.
The smart cards market is now valued at USD 8.2 billion and is expected to reach USD 11.9 billion by 2020, growing at a CAGR of 9.0% from 2014 to 2020. The Asia Pacific smart cards market is estimated to grow at a CAGR of 10.1% from 2014 to 2020.