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Untapped Retail and Banking Sectors Offer Immense Potential for Smart Cards in India Finds IMARC Group - The penetration of smart cards in the Indian banking and retail industries are currently very low but offer immense opportunities for future growth - IMARCgroup.com
Untapped Retail and Banking Sectors Offer Immense Potential for Smart Cards in India Finds IMARC Group

 

NewswireToday - /newswire/ - Delhi, Uttar Pradesh, India, 2012/01/23 - The penetration of smart cards in the Indian banking and retail industries are currently very low but offer immense opportunities for future growth - IMARCgroup.com.

   
 
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According to a new report from IMARC Group, the penetration of smart cards in the Indian banking and retail industries are currently very low but offer immense opportunities for future growth. Findings from the report suggests that the Indian retail industry has transactions worth hundreds of billions of dollars a year with around one third of these transactions done through electronic means. Although around 58% of these transactions are currently done using credit and debit cards, the current usage of smart card technology remains very low in this sector. This trend can be attributed to the fact that only a fraction of credit and debit cards in India are currently based on smart cards. Most banks in India, however, are shifting from magnetic stripe cards to chip based cards. This is expected to create a huge opportunity of smart cards in this segment. Apart from bank cards, findings from the report suggested that the Indian retail sector also provides huge opportunities in a number of other segments where smart cards currently have a negligible presence such as E-Purse, loyalty cards, frequent shopper, frequent flyer, food courts, gaming zones, etc.

IMARC’s new report entitled “Indian Smart Cards Industry Market Report & Forecast 2011-2016” gives a deep insight into the Indian smart cards market. The research study serves as an analytical as well as a statistical tool to understand the market trends, structure, drivers, restraints and the outlook of the market till 2016. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and all those who are planning to foray into Indian smart cards market in some form or the other.

What We Have Achieved in this Report
• Comprehensive situation analysis of the Indian smart cards market and its dynamics.
• Identified all application segments/sub-segments and quantified their current and future market potential.
• Provided a robust long range value and volume forecast for all segments and sub-segments.
• Provided an understanding of key drivers and restraints and their impact on current and future market performance.

Smart Card Application Segments and Sub-segments Covered in this Report
• Telecommunication
• National Population Registry Project
• Financial Services
• Credit & Debit Cards
• Financial Inclusion
• PAN Cards
• Travel Identity
• Driving License
• Registration certificates
• Passports
• Automatic Fare Collection
• Metro Rail Projects
• Bus projects
• Indian Railways
• Healthcare
• Rashtriya Swasthya Bima Yojna
• Ex-servicemen Contributory Health Scheme
• Public Distribution System

Focus of the Analysis for Each Segment & Sub-segment
• Segment/Sub-segment Overview
• Smart Card Implementation Scenario
• Historical and Future Smart Card Volume Demand
• Historical and Future Smart Card Value Demand

Focus of the Analysis for Each Segment & Sub-segment
• Segment/Sub-segment Overview
• Smart Card Implementation Scenario
• Historical and Future Smart Card Volume Demand
• Historical and Future Smart Card Value Demand

Methodology
Initial Exploration of the Indian Smart Cards Market: Conducted secondary and primary market research to complement/enhance our current knowledge and define key market segments and sub-segments.
Qualitative Market Research: Interviewed various industry stakeholders to gain a comprehensive insight on all major segments and sub segments. This included understanding key metrics and events such as smart card requirements, current and future demand, implementation timelines, success and risk factors, costs, etc.
Quantifying the Current &Future Market Potential: Consolidated our results to quantify the value and volume potential of smart cards in each segment and sub-segment.
Validating Our Results: Collaborated with industry stakeholders to validate our results and findings.

Information Sources
Information has been sourced from both primary and secondary sources:
• Primary sources include industry surveys and face to face/telephone interviews with industry experts.
• Secondary sources include proprietary databases and search engines. These sources include company websites and reports, books, trade journals, magazines, white papers, industry portals, government sources and access to more than 4000 paid databases.

To buy the complete report or to get a free sample, please contact:
IMARC Group Asia
E: apac[.]imarcgroup.com / P: +91-120-425-6531

IMARC Group North America
E: america[.]imarcgroup.com / P: +1-631-791-1145

To know more please visit: imarcgroup.com/.

 
 
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Written by / Agency / Source: IMARC Group

 
 

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Untapped Retail and Banking Sectors Offer Immense Potential for Smart Cards in India Finds IMARC Group

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Publisher Contact: Krishna Sharma - IMARCgroup.com 
+91 12 04155099 press[.]imarcgroup.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any IMARC Group securities in any jurisdiction including any other companies listed or named in this release.

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