Also, by 2013 RFID smartcard revenues are expected to grow by a compound annual growth rate (CAGR) of 26 percent. According to technology market research firm VDC Research Group, the ISO 14443 standard (defines a proximity card used for identification, and the transmission protocols for communicating with it) will continue to account for the vast majority of current and future global smartcard revenues and unit shipments due to the large number of applications it supports. The demand for RFID smartcards is expected to remain stable, while applications such as contactless payments and ticketing ticketing will reportedly drive product development due to their expanding functionality.
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