Report: South Korea's smart card shipments to increase 6.2%

SecureIDNews Report: South Korea's smart card shipments to increase 6.2%
Frost & Sullivan has released a new report predicting a 6.2% jump in South Korea’s shipment of smart cards in 2010, rebounding from last year’s slump in demand. By the close of 2010, an estimated 49.6 million units are expected to be shipped, up from 46.7 million in 2009.

Frost & Sullivan industry analyst Navin Rajendra expects shipment growth rates to continue rising till 2015 given the nation’s appetite for newer and better technology.

The report, titled “South Korea Smart Cards Market,” forecasts the market to grow at a CAGR (compound annual growth rate) of 5.6% (2009-2015), capping the year 2015 at 7.1% year-on-year growth and total smart card shipments of 68.7 million units.