2016 Asia-Pacific contactless smart card market reached 190 million

Contactless smart cards, users have been attracted by their freedom and convenience, we expect that in the next two years, there will be more projects using contactless smart cards in the Asia-Pacific region.

Reuben Foong, a research analyst at the foreign investigation agency Frost & Sullivan, predicts that from 2012 to 2016, the growth rate of contactless smart cards will be 20% to 25% per year, while the growth rate will reach 16.4% during the period 2009-2016. . By the end of 2016, contactless smart cards in the Asia Pacific region will have a market share of 190 million yuan.

In addition, Frost & Sullivan published an investigation report entitled “Different Components of Smart Card ICs in Asia Pacific”, which predicts that the contactless smart card industry in the region will reach a value of 200 million U.S. dollars in 2016, with compound growth. The rate reached 13%. The contactless smart card had a market value of 7.75 million U.S. dollars in 2009, while the total market value of smart cards reached 194 million U.S. dollars. In 2009, the proportion of non-contact smart cards in smart cards reached 23%. Foong predicts that this proportion will reach 50% in 2016.

According to Foong's prediction, the growth in the demand for contactless smart cards has come mainly from the implementation of NFC chips, e-passports and public transport projects around the world.

“The NFC commercial project has been implemented globally along with other small-scale commercial projects, and there are more than 200 pilots worldwide to complete this project,” he said. “In the Asia-Pacific region, we can expect that there will be large-scale mobile in the next 1-2 years. The NFC project was launched.” He added that NFC mobile devices will also be updated to contactless bank credit and debit cards in a timely manner, and security issues have been properly resolved.

Electronic passports using non-contact interfaces have long been recognized by the International Civil Aviation Organization, the United States and the European Union, and more than 80 countries have adopted the standard. Foong expects that the demand for contactless smart cards in electronic passports and similar government ID identity applications will continue in Asia. “The government ID identity project is by far the largest user project. Over the next five years, more and more countries will use non-contact interfaces and continue to do so,” he said. “Keeping in mind that e-passports also need to be updated. In general, the interval is between 5-10 years.” In the next five years, electronic passports will be used in India, China, the Philippines, Indonesia, and Vietnam.