The global smart card market is growing at an astonishing rate, with smart cards now becoming one of the most sophisticated and advanced pieces of technology used worldwide, primarily for payment and authentication purposes, according to Smart Card Market Report. 6.2 billion smart cards were shipped. It is estimated that smart card shipments are forecast to reach 6.8 billion in 2012 and 11.1 billion by 2017, increasing at a compound annual growth rate (CAGR) of 10.3% from 2012 to 2017.
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