Ryan Haryawanto

PT. Cipta Srigati Lestari

The global smart card market has witnessed the sustainable growth during the past few years, in-line with the increasing applications of smart cards in different industrial sectors and rising awareness about its benefits. The highest number of smart cards is used in the telecommunication sector in the form of SIM cards as the global penetration of mobile phones increasingly felt by people in the world. Applications of smart cards in the transportation, the public sector and financial services are also surging on the back of technical benefits, such as a high storage capacity, a faster processing speed and increasing security concerns. Global shipments of smart cards are estimated to grow sustainably and significantly. Smart card projects have seen a remarkable increase at a rapid pace worldwide, signifying the flexibility and the robustness of the technology. Furthermore, the strong demand for digital security is driving the demand for smart cards. It is projected that the global smart card market will post double digit growth (CAGR around 12%) during 2011-2013. In addition, liability associated with EMV (Europay, Master Card & VISA) standard is driving many banks to issue smart cards. CIPTA is very favorably positioned to capture significant portions of this market growth.