Smart payment, banking cards shipments to rise to 3.5 billion by 2017

Annual volumes of smart payment and banking cards shipped are forecast to increase from 1.1 billion in 2011 to 3.5 billion in 2017.

07/09/2012


Annual volumes of smart payment and banking cards shipped are forecast to increase from 1.1 billion in 2011 to 3.5 billion in 2017. This is one of the leading conclusions from IMS Research’s (recently acquired by IHS Inc.) just-published report The World Market for Payment and Banking Cards – 2012 Edition.

“In terms of volumes, the payment and banking card market is the second-largest smart card market and this is forecast to continue to be the case over the next five years,” stated Don Tait, senior analyst at IMS Research’s Financial and ID Technology Group and the report’s author. “That being said, the proportional importance of specific geographical markets is forecast to change during this time.

“The proportional importance of China for smart payment and banking cards is projected to increase significantly over the next five years,” Tait continued. “The People’s Bank of China announcement in March 2011 to convert China’s debit and credit payment cards to smart cards is projected to significantly influence market development. All financial institutions in China must be ready to issue financial smart cards by January 1, 2013. By 2015, all new cards in issuance will be smart-card based. This will have a significant impact on the number of smart payment and banking cards shipped in China from 2013 to 2016. In 2016, the number of smart payment and banking cards shipped in China is projected to increase to 1.3 billion (or two-fifths of total world shipments).”

Tait added: “The U.S. market for smart payment and banking cards is projected to show good growth during the next five years. The U.S. is the world’s second-largest market for payment and banking cards (magnetic stripe as well as smart cards) by volume. It is also the world’s largest market in terms of card expenditure. Until recently, the U.S. was the only mature country to have not committed to EMV migration. However, the announcements by Visa Inc., in August 2011 and MasterCard in January 2012 will help to kick start EMV migration in the U.S. Furthermore, at the end of last month, American Express also announced its network roadmap to advance EMV chip-based contact, contactless and mobile payments for all merchants, processors and issuers of American Express-branded cards in the U.S. The installed base of smart payment and banking cards in the U.S. is projected to increase to 935 million by the end of 2017.”



Top Plant
The Top Plant program honors outstanding manufacturing facilities in North America.
Product of the Year
The Product of the Year program recognizes products newly released in the manufacturing industries.
System Integrator of the Year
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
October 2018
Tools vs. sensors, functional safety, compressor rental, an operational network of maintenance and safety
September 2018
2018 Engineering Leaders under 40, Women in Engineering, Six ways to reduce waste in manufacturing, and Four robot implementation challenges.
July/Aug
GAMS preview, 2018 Mid-Year Report, EAM and Safety
October 2018
2018 Product of the Year; Subsurface data methodologies; Digital twins; Well lifecycle data
August 2018
SCADA standardization, capital expenditures, data-driven drilling and execution
June 2018
Machine learning, produced water benefits, programming cavity pumps
Spring 2018
Burners for heat-treating furnaces, CHP, dryers, gas humidification, and more
October 2018
Complex upgrades for system integrators; Process control safety and compliance
September 2018
Effective process analytics; Four reasons why LTE networks are not IIoT ready

Annual Salary Survey

After two years of economic concerns, manufacturing leaders once again have homed in on the single biggest issue facing their operations:

It's the workers—or more specifically, the lack of workers.

The 2017 Plant Engineering Salary Survey looks at not just what plant managers make, but what they think. As they look across their plants today, plant managers say they don’t have the operational depth to take on the new technologies and new challenges of global manufacturing.

Read more: 2017 Salary Survey

The Maintenance and Reliability Coach's blog
Maintenance and reliability tips and best practices from the maintenance and reliability coaches at Allied Reliability Group.
One Voice for Manufacturing
The One Voice for Manufacturing blog reports on federal public policy issues impacting the manufacturing sector. One Voice is a joint effort by the National Tooling and Machining...
The Maintenance and Reliability Professionals Blog
The Society for Maintenance and Reliability Professionals an organization devoted...
Machine Safety
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
Research Analyst Blog
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
Marshall on Maintenance
Maintenance is not optional in manufacturing. It’s a profit center, driving productivity and uptime while reducing overall repair costs.
Lachance on CMMS
The Lachance on CMMS blog is about current maintenance topics. Blogger Paul Lachance is president and chief technology officer for Smartware Group.
Material Handling
This digital report explains how everything from conveyors and robots to automatic picking systems and digital orders have evolved to keep pace with the speed of change in the supply chain.
Electrical Safety Update
This digital report explains how plant engineers need to take greater care when it comes to electrical safety incidents on the plant floor.
IIoT: Machines, Equipment, & Asset Management
Articles in this digital report highlight technologies that enable Industrial Internet of Things, IIoT-related products and strategies.
Randy Steele
Maintenance Manager; California Oils Corp.
Matthew J. Woo, PE, RCDD, LEED AP BD+C
Associate, Electrical Engineering; Wood Harbinger
Randy Oliver
Control Systems Engineer; Robert Bosch Corp.
Data Centers: Impacts of Climate and Cooling Technology
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
Safety First: Arc Flash 101
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
Critical Power: Hospital Electrical Systems
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
Design of Safe and Reliable Hydraulic Systems for Subsea Applications
This eGuide explains how the operation of hydraulic systems for subsea applications requires the user to consider additional aspects because of the unique conditions that apply to the setting
click me