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Smart Cards ICs to hit 580 crore units in 2010

Posted: 11 Aug 2010     Print Version  Bookmark and Share

Keywords:Smart Cards IC forecast  Smart Card IC market  SIM cards 

IMS Research forecasts that the smart cards IC market is forecast to reach 580 crore units in 2010.

Senior market analyst and report author Don Tait says, "2009 was particularly tough trading conditions for smart card IC suppliers with total revenues actually declining 9.2% to Rs.8,689.24 crore ($1.85 billion), despite their being growth in terms of units. The economic downturn, destocking by card manufacturers and price erosion all had a negative impact on revenues. This situation is projected to improve during 2010."

Tait continues, "The first half of 2010 has seen a marked improvement in the financial performance of the majority of IC suppliers. Moreover, smart card manufacturers have also seen an upturn in demand for their products. Confidence is returning to the sector and re-stocking by smart card manufacturers is gathering pace."

"Key end-user sectors such as SIM cards, payment & banking and health & government are projected to grow in shipment and revenue terms during 2010. The migration towards EMV in the payment & banking sector, an increase in the demand for contactless / dual interface cards and a much healthier mobile device market are all projected to help boost demand. This will help to grow the market for smart card ICs to this 580 crore unit level in 2010."

For more statistics and forecasts, click here.

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