The integration of smart cards with biometrics will become a growing market, according to new analysis from Frost & Sullivan (www.smartcards.frost.com).
The report was cosponsored by APAC Integrated Smart Cards and Biometrics Markets. It found that the market for intgerated smart cards and biometric products earned $249.1 million in 2007 and is expected to reach $822.2 million by 2013. National ID projects are the most active revenue generators for the market, since all governments in the Asia Pacific are looking at implementing biometrics along with smart cards.
A few national ID projects such as those of India’s and Malaysia’s have already started using biometric verification, while Japan’s and China’s are still at the planning stages. With many more countries looking at implementing national ID projects, and biometrics being one of the prerequisites for these projects, the market has good reasons to feel optimistic.
The market growth rate in 2006 was 55.2 percent, despite many of the national ID projects not operating at full scale. Considering even corporate security, banking, and e-passport programs have not reached their full potential, the unit shipment growth is expected to rocket in spite of fluctuations in the growth rate.