In their report entitled “Global Card Market Statistics,” the International Card Manufacturers Association (ICMA) found that the global card market touched $17 billion in 2011− a 14% jump from 2010.
The report notes a significant spike in chip-based cards used in mobile phones and electronic transactions. The report also revealed that more than 30 billion magnetic stripe and chip cards manufactured worldwide in 2011 with the Asia-Pacific region leading the way producing 10 billion units.
Following the Asia Pacific region was North America with 8.6 billion units manufactured, with Europe producing 5 billion units, the Middle East/Africa region 4.2 billion, and Latin America 1.9 billion units.
ICMA’s report goes on to explain that market growth through 2015 will taper out as the adoption of smartphone apps and NFC technology will likely affect growth beyond 2015.
Other important highlights of the report include:
Mobile phone cards comprised 15.2% of the global market with 4,639,000,000 units manufactured in 2011
Financial transaction cards also comprised roughly 15.2% of the market with 4,628,000,000 units manufactured in 2011
Volume differences in traditional and chip-based cards was smallest in the Asia-Pacific region at 51.7% and 48.3% respectively, and Europe at 54.2% and 45.8% respectively
ICMA’s Global Market Statistics Report is an annual publication, providing its readers with crucial industry data by examining 15 market segments − ranging from telephone scratch off to access control− as well as card production in each global region.