It is now billion dollar revenue industry
GN Bureau | September 24, 2015
India's market for smart cards is in the range of $1 billion in revenues, a rise of 42 percent from 2011. This is one good reason to look at the products being displayed at ssmartcards Expo in New Delhi.
SmartCards Expo 2015, the 17th edition is being organized along with e-Security Expo 2015, RFidIndia Expo 2015, BiometricsIndia Expo 2015, e-PaymentsIndia Expo 2015 and India Mobile Forum 2015 at Hall-12-A, Pragati Maidan, New Delhi, on September 22, 23, 24.
About 125 companies from 25 countries are participating in SmartCards Expo 2015 and its co-located events. As in the past, this year also Business France India, Consulate General of France in Mumbai, is organising a French pavillion. The smart card exhibition is topmost in Asia and no. 2 in the world.
India has seen a promising growth in all these technologies applications during the past few years. Smart card applications, in conjunction with mobile communications, biometrics, RFID and Payments technologies, are being implemented by the central and state governments for several socio-economic projects worth trillion of rupees, for diversified socio-economic segments.
According to Research and Markets, RFID market in India will grow at the CAGR of around 25% during 2013-2018. In its report, "India RFID Market Forecast & Opportunities, 2018" it says, in India, the usage of RFID technology is increasing prominently across various industries such as retail, healthcare, automotive, supply chain and public Transit which is opening up opportunities for the industry players.
Mahindra and Mahindra is one of the first few companies to implement the usage of RFID in India. They are using RFID for warehousing, vendor tracking, and vehicle tracking. RFID technology has also forayed in the India dairy sector. Chitale, one of the prominent dairy producers in Pune has deployed the RFID chips in cattle management for the collection of feeding data, breeding data and also to keep a record of the animals.
Union home ministry has decided to use RFID technology for recruiting thousands of men and women in the ranks of constables, sub-inspectors and inspectors in the five large central armed police forces - CRPF, BSF, CISF, ITBP and SSB in the coming years. The ministry of transport and highways is already using RFID technology for tolling and ticketing.