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Smart Card Management Systems
Frost & Sullivan, Oct 2009, Pages: 26
This Frost & Sullivan research service titled Smart Card Management Systems provides an in-depth analysis of market drivers and restraints, industry structure, and competitive environment besides dealing with the challenges and issues faced by market participants.
Market Overview
Optimized Performance Capabilities of Solutions Fuel Growth in the Smart Card Management Systems Market
Alongside rapid development in the card technologies market, the smart card management systems (SCMS) market has witnessed growing demand. These systems bridge the divide between hardware and application, providing a higher level of integration for card management. Large-scale, high-end government and public projects, which require high levels of security, are spearheading growth in the SCMS market. Such projects typically exceed 500,000 cards and thus, gain the most value from more visibility and control. As the number of cards increases, the need for a streamlined management solution does too, warranting a more advanced software solution to be implemented. 'The value of these advanced solutions is directly correlated to the size of the card solution and the data that needs to be protected – with the more sensitive information benefiting more from an SCMS system,' notes the analyst of this research service. 'The growing capabilities and performance enhancements in modern smart cards is largely driving the success of SCMS, vastly expanding the capabilities of the entire card system.'
Although prospects for the market look upbeat, there are some challenges affecting the landscape. Existing card management systems are currently in place for many organizations, creating stiff opposition for smart card-specific management systems. These systems generally lack much of the functionality of a smart card management system, but provide the more basic features. Thus, these solutions are most common in smaller solutions or systems which have been in use for an extended period of time and have not been upgraded to an SCMS. 'SCMS technologies will also continue to have to compete with a variety of similar software solutions that exhibit at least partial SCMS functionality,' says the analyst. 'This may give the illusion of overlap or redundancy in software, making clients less likely to invest in a full featured smart card management system.' SCMS vendors will need to successfully portray an added value over existing solutions to become viable, particularly in the current adverse economic conditions and tight IT budgets.
The high initial cost of SCMS is another dampener. The high price of a smart card solution will need to be justifiable in order for adoption to continue on an upward trajectory. It is vital to ramp up customer awareness levels while focusing on additional value-added features and multi-application support. Smart card vendors, distributors, and industry organizations (such as the smart card alliance), must continue with their efforts to help differentiate smart card management systems from less capable competition. Adhering to the latest government and corporate standards and regulations will be crucial for further market penetration. Trends indicate that the industry is shifting toward more simple, compatible, and streamlined systems and it will be unlikely that limited solutions that offer only partial functionality will remain viable propositions.
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