According to IMS's forthcoming market research report - Global Payments and Banking Smart Card Market 2010, 2011, the number of smart card chips entering payment and banking applications is expected to exceed 1 billion, up 19% from the 2010 forecast.
“This is consistent with our prediction of the long-term growth trend of this market in the past 14 years,†said Alex Green, research director at IMS Research. “In the past decade, the compound growth rate of shipments has been around 20%. Even the economy is like a roller coaster. In the past two years, the market has maintained double-digit growth. It is expected that the 19% growth in 2011 will reach the level before the economic crisis."
Smart card shipments are dominated by credit and debit cards; shipments of prepaid cards and ATM-specific cards are relatively small. The growth of credit and debit cards has benefited to some extent from the growing number of bank users and the increasing proportion of smart cards in payments and bank cards. “At the end of 2009, in the circulation field, smart cards accounted for more than 1/4 of the payment and bank cards, and most of the remaining cards were magnetic stripe cards,†Green said. “It is expected that the proportion of smart cards will increase greatly in the next five years; this will drive the market continuously. Growing up." Even so, even at the end of 2015, the magnetic stripe card will still have a huge amount of possession.
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