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Asia Pacific Smart Cards Market - Integrated Circuit on Different Form Factors
Frost & Sullivan, Aug 2010, Pages: 98
This study takes an in depth look at the smart cards market in Asia Pacific with regards to the different forms that have been and will potentially be deployed. Common form factors such as the standard plastic card and SIM cards have been widely accepted. Other form factors such as booklets, typically used in e-Passports (passport booklets with Smart Card integrated circuits embedded within) as well as coin-like tokens have been well received in their respective niche markets. This study also highlights several common trends as well as strategic recommendations for up and coming form factors that carry smart card technology.
Research Overview
This Frost & Sullivan research service titled Asia Pacific Smart Cards Market - Integrated Circuit on Different Form Factors provides an overview of the market as well as the factors that are aiding and deterring its growth. In this research, Frost & Sullivan's expert analysts thoroughly examine the following: Europay, MasterCard and VISA (EMV), loyalty cards, and contactless projects.
Market Overview
Gap between Smart Cards in Mobile Phones, USB Devices, Booklets, and Other Forms Narrows Steadily in the Asia Pacific Smart Cards Market
At present, smart card integrated circuits are available in various forms besides the standard plastic cards. The USB smart card and the mobile near field communication (NFC), in particular, offer enormous potential. In South Korea and Japan, NFC mobile handsets have made rapid strides, while smart card manufacturing giants are poised to unleash smart card USB devices. Other forms are gradually picking up steam and may become prevalent in the near future, while some form factors have emerged as ideal solutions in certain niche markets. Currently, government ID projects are by far the largest users of contactless cards and will remain so for the next five years as more nations migrate to the contactless interface. As e-Passports have to be renewed, typically, every five to ten years, the market is expected to continue its upward growth trajectory. 'The world is already prepared to roll out NFC commercial projects with a small number of commercial projects having already begun and more than 200 pilot projects already completed across the globe,' notes the analyst of this research service. 'In the Asia-Pacific, large-scale mobile NFC deployments are expected within the next one to two years.' NFC on mobile devices will also prompt renewed interest in contactless bank credit and debit cards, with security issues having been ironed out. Smart cards within booklets, such as e-Passports, have been well accepted worldwide and endorsed by the International Civil Aviation Organization (ICAO) under the United Nations (UN) as well as the United States and European Union. Other upcoming form factors with multiple implementations already in place are the smart card token typically used in mass transit ticketing as well as the smart card USB memory device.
Although the prospects for the smart cards market look upbeat, there are some challenges stalling its momentum. Market penetration for new form factors will not be easily achieved, as they have to deal with several challenges surrounding cost, culture, and infrastructure. While some countries are prepared to address these issues and initiate implementations, some others may take a lot longer, especially since new technology typically takes time to gain traction. Despite the fact that smart card technology embedded tokens, USB devices as well as watches and wristbands have been around for some time, they are yet to experience significant sales spikes. It will take time to find a proper niche, and concerted efforts on the part of stakeholders will be required to pull through in order to bring about a competitive value proposition to end users.
In such a scenario, market pioneers will gain the most with their first-mover advantage. Companies should recognize and accept the need to create strategic alliances and partnerships to enable easier entry to the market, cater to underserved markets, and ensure optimal penetration in current ones. The ever present need for integration of the different uses of smart cards coupled with the potential that smart cards hold is creating a need to leverage this technology. By deploying existing technology to tap into the security, capacity, and versatility of smart cards, certain form factors may well help utilize dormant features in the standard plastic card.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Europay, MasterCard and VISA (EMV)
- Loyalty cards
- Contactless projects
By End Use Application:
- Mass transit ticketing
- Near field communication
- Banking and loyalty
- Transportation
- Micro payments
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