TBYH is pleased to announce that the merger with Card Tech International has reached the final stages.
Card Tech International is a leading developer of Smart Card technology.
Market research points to the SmartCard Market being worth almost $8b USD by 2018, here is part of that research from Transparency Market Research (TMR).
A smart card is usually a plastic card which contains a memory or microprocessor chip embedded in it, which is capable of storing and transmitting data.
Smart cards market can be classified based on the basis of the interface into contact smart cards, contactless smart cards, and hybrid smart cards. Based on its components, there are two types - memory smart cards and microprocessors. Smart cards have a wide area of application such as in transportation, telecommunication, for making government IDs, in the financial sector and in paid TV services. In addition to these, geographically the market is divided into North America, EMEA, Asia-Pacific, and Rest of the world.
The global smart card market was valued at USD 4.5 billion in 2011 and is expected to grow at a CAGR of 7.7%. The market is expected to reach USD 7.9 billion by 2018. The telecommunication sector is the largest revenue generator for the smart card market, contributing about 50% of the revenue. Geographically, EMEA is the largest revenue generator for the smart cards market on account of technology competence and demand for secured transactions.
Card Tech International is a company engaged in innovative mobile handheld devices and aims to revolutionize the markets of identification, security and monetics using biometric identification technologies.