A clear perception of the smart card market and its dynamics is imperative for participants to position themselves at an advantage in today’s competitive and constantly shifting market. It is also bound to give them the flexibility to adapt to market changes. Participants also need to be aware of customer requirements to provide better service. They need to rework old business strategies to suit changing business and market conditions, all the while, keeping an eye on the competition. In a situation where current suppliers or customers can be potential rivals, emphasis needs to be placed on monitoring the entire value chain, its dynamics, and the strategies adapted by participants in order to stay profitable.
