Worldwide Business Security Concerns Brighten the Future of Smart Cards Markets1 November 2005
The availability of wireless local area network (WLAN) hotspots and WLAN enabled laptops and personal digital assistants are allowing people to continue working on the move. This increasing number of mobile users in corporate networks highlights the role of smart cards as a means of authentication and verification. New analysis from Frost & Sullivan (http://www.smartcards.frost.com ), World Corporate Security (Logical & Physical Access Control) Markets, reveals that the revenue in this market totaled $94.7 million in 2004 and projects to reach $149.9 million in 2010.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the World Corporate Security (Logical & Physical Access Control) Markets then send an e-mail to Tori Foster - Corporate Communications at tori.foster@frost.com with the following information: your full name, company name, title, telephone number, e-mail address, city, state and country. We will send you the information via email upon receipt of the above information. "Growing security needs of businesses across the world are expected to continue to push the adoption of smart card-based corporate ID system," explain Frost & Sullivan Senior Analysts Jafizwaty Ishahak, Karthik Nagarajan and Anoop Ubhey. "Smart cards have the ability to provide enhanced security through multiple factors of authentication and can perform cryptographic algorithms without exposing the entire personal information of an individual when it is presented." Smart cards also have greater data storage capabilities. Moreover, the WLAN consortium defines the specifications for worldwide access to wireless LAN networks with smart card security and related capabilities across market segments.
Recently, it released a complete set of specifications that allows telecom operators to easily extend subscriber identity module (SIM)-based authentication for use in hotspots. Despite such beneficial features, organizations shy away from intensive adoption of smart cards due to high investment costs. Smart card-based access control systems are more expensive compared to magnetic stripe, proximity cards and barcodes. "Unlike products that are purchased to fulfill a certain set of activities that would result in savings for the company, profits from smart cards, which prevent loss, are difficult to calculate resulting in North American manufacturers hesitancy about immediate adoption," says Karthik. The companies in the Latin American region are yet to realize the long- term advantages of migrating to smart cards technology. The high initial costs of smart cards are highlighted by the legacy systems they use, which gives them a false sense of security. "Initiatives taken to rectify this situation like the conferences and expositions planned by SCA will alleviate the situation," notes Anoop.
In Europe, Middle East, Africa and Asia Pacific, low-cost alternatives to smart cards have remained an obstacle toward adoption of smart cards. In non- critical usage scenarios, the initial cost of these alternatives makes smart card solutions expensive. However, the importance of smart cards to corporate systems is evident from its strong government backing. "The International Civil Aviation Organization (ICAO) combined contactless chips and face recognition biometrics technology to create biometric-enabled passports," says Jafizwaty. "Such smart card-based ID card projects by several governments around the world have created awareness and encouraged the acceptance of this technology."
With a revenue forecast compound annual growth rate of eight percent, the future of the smart cards market is secure due to the high level of privacy it assures, its multiapplication appeal, heightened need for security in businesses globally and increased number of mobile users in the corporate networks. World Corporate Security (Logical & Physical Access Control) Markets is part of the 9206 subscription and it evaluates the market drivers and restraints across all regions, provides industry challenges, along with the strategic recommendations for the corporate security market or offices/organizations using smart card-based access control system. This study also provides future market predictions.
Executive summaries and analyst interviews are available to the press. Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com . World Corporate Security (Logical & Physical Access Control) Markets F267-33 Contact: Tori Foster Corporate Communications - North America P: 210.477.8448 F: 210.348.1003 E: tori.foster@frost.com Magdalena Oberland Corporate Communications - Europe P: +44 (0) 20 7915 7876 F: +44 (0) 20 7730 3343 E: magdalena.oberland@frost.com Donna Jeremiah Corporate Communications - Asia Pacific P: +603 6304 5832 F: +603 6201 7402 E: djeremiah@frost.com http://www.frost.com Keywords in this release: smart cards, corporate security, logical access control, physical access control, wireless local area network, WLAN, SIM-based authentication, contactless chips, face recognition biometrics technology, International Civil Aviation Organization, ICAO, research, information, market, trends, technology, service, forecast, market share
Source: PR Newswire
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