Demand for smart cards to grow at CAGR 10 %

According to a research report called, ‘Smart Card Market Forecast for 2012’, the shipment of smart cards in the telecom sector is expected to grow at a CAGR of around 10 per cent during 2011-2013. The telecom sector is one of the important areas for smart cards throughout the world. The chief driver for the smart card industry is SIM card usage in mobile phones. From the global perspective, the mobile market is speedily maturing. Moreover, with the rising demand for interoperability, mobile SIM card manufacturers will require superior SIM cards with better memory and faster downloading abilities to support value added services (VAS), which will boost the demand for smart cards.