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Optimized Performance Capabilities Trigger Growth in the Smart Card Management Systems Market Finds Frost & Sullivan - Alongside rapid development in the card technologies market, the smart card management systems (SCMS) market has witnessed growing demand
Optimized Performance Capabilities Trigger Growth in the Smart Card Management Systems Market Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Mountain View, CA, United States, 2010/04/07 - Alongside rapid development in the card technologies market, the smart card management systems (SCMS) market has witnessed growing demand.

   
 
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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 the need for a more advanced software solution.

New analysis from Frost & Sullivan (smartcards.frost.com), Smart Card Management Systems, finds that the market earned revenues of over 105 million in 2009 and estimates this to reach $218.7 million by 2015.

If you are interested in more information on this study, please send an email to Sarah Saatzer, Corporate Communications, at Sarah.Saatzer[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

"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," says Frost & Sullivan Research Analyst Pete Finalle. "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."

lder installed card management systems are 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. 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 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 Finalle. "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 for an SCMS is also a concern for customers. It is vital for SCMS issuing organizations to ramp up customer awareness levels while emphasizing additional value-added features and multi-application support. Smart card vendors, distributors, and industry organizations (such as the smart card alliance), must step-up 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 as viable propositions.

Smart Card Management Systems is part of the Smart Card Growth Partnership Services program, which also includes research in the following markets: World Smart Card Government and ID markets, World Smart Card transportation markets, World SIM Smart Card Markets, and World Smart Card IC Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

Smart Card Management Systems / N681

 
 
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Optimized Performance Capabilities Trigger Growth in the Smart Card Management Systems Market Finds Frost & Sullivan

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Publisher Contact: Sarah Saatzer 
210.477.8427 sarah.saatzer[.]frost.com
 
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