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Smart Card – China Moves Smartly

Jun 27,2019 | Electronics

A smart card is an integrated circuit that works as a secure microcontroller with internal memory. Smart cards have the distinctive ability to store large amounts of data, perform encryption and shared authentication, and relate with a smart card reader. The technology is available in a variety of forms, such as plastic cards, watches, GSM mobile phones and USB-based tokens.

With the development of the technology industry, China's demand for Smart Card has grown at a fast pace in the past decade. In 1993, China launched the smart-card industry with the Golden Card Project with a nationwide electronic-currency scheme that established 12 provincial and municipal exchange centers. Till date about 20 Chinese banks have issued 110 million credit cards, out of which 3 million are Intelligent Cards or Smart Cards. Smart cards are known to be as one of the most secure and reliable forms of an electronic identification. According to a report by Eurosmart, the smartcard market will cross over 10 billion units in 2019. Apart from sim cards, payment and banking cards, a variety of other smart cards are making their way in the market , such as Government (eIDs and e-passports) and healthcare cards, multiple application and utility cards used for parking and toll collection, access control etc. The demand for high-capacity cards is expected to rise in the coming years and this trend is likely to be the strongest in Asia-Pacific markets.Our latest market research report on Smart Card Markets in China provides hard-to-find market data and analyses. Today, China has the largest market in the world. Tremendous fast-growing markets for imports and business opportunities for companies around the world. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption and capital investment. In the two past decades, the industry has been growing at a fast pace. The dramatic expansions of the manufacturing capabilities and rising consumer consumptions in China have transformed China’s society and economy. If you want to expand your business or sell your products in China, our research reports provide the insights and projections into Chinese markets necessary for you to do so. For more information, please visit – Market Reports on China.