Smart card market sees growing interest
Market value to reach $328.5m by 2014, Gitex Dubai will see new smart card section
The value of the smart cards market in the Middle East and North Africa (MENA) region will hit $328.5m by 2014 and the telecommunication sector will account for 64.4% of all smart card sales, according to market research by Frost and Sullivan.
Strong demand for digital security is fuelling demand for smart cards, according to the research. The global smart card market is likely to post double digit growth during 2011-2013, with the region growing at an annual growth rate of 10.8%.
Smart card shipments for telecommunications applications globally will grow to 4.5 billion units in 2011, up from 4 billion in 2010, according to Eurosmart, the international not-for-profit association, based in Brussels.
The MENA region is also showing increasing interest in the smart card market. The UAE government recently implemented compulsory national identity cards for citizens, , and the expatriate community.
GITEX Technology Week will this year feature a section specifically dedicated to the smart card industry.
"Smart cards have become a part of our daily lives and the reliance on such technology is growing. As smart card technology continues to evolve and grow at such a rapid pace across the MENA region, exhibitors will appreciate the new platform that GITEX is providing the industry. Visitors to the new segment will be able to find advice and information about the range of card solutions available and the opportunities the Middle East market offers. Decision makers will appreciate the excellent networking opportunities this industry leading exhibition provides, and the prospect to generate and close significant sales deals," said Trixee Loh, SVP, World Trade Centre, organiser of the event.
One of the companies showcasing their expertise is Cardz Middle East Trading LLC, the company behind the Dubai E-Gate Project.
"The demand for smart card technology is varied and unique to the business dynamics of the region. Companies need a common platform to show the market what solutions the industry can offer. For regional companies like us, GITEX allows us to showcase our technology to a wider regional and global audience. As a company we have interesting projects that we can highlight to visitors and potential customers that will help us explore more revenue streams," said Nitin Shabbir, managing director, Cardz Middle East Trading LLC.