Asia Pacific Smart Cards Market Outlook 2010

Published: 7 Jun 2010

By Reuben Foong, Research Analyst, Asia Pacific Smart Cards Practice, Frost & Sullivan

The late-2008 global recession caused a stir across all markets and dictated a recalculation on previous forecasts for the smart cards market.

Holding up the market in 2009, and spilling over to 2010, was government spending for national-type documents such as e-Passports and National Identification Card projects that were carried out without delay. Certain project rollouts such as NFC pilots and mobile handsets have been notably delayed well into 2010, perhaps even into 2011 or 2012.

Regardless of the economy in general, the smart cards market is predicted to steadily grow throughout recessions as it typically has. This is largely due to the increased security risks that typically emerge during hard times, in which smart cards play a key role in reducing risk in areas such as physical security, banking fraud, identity theft and so forth.

Emerging Applications

NFC – A Reservoir of Potential

Near Field Communication (NFC) is a hotbed of invention, investment and potential.

There is no longer a lack of key participants in the NFC value chain; all we wait for is the launching of more products and services. What we can look forward to from this point is a relatively slow introduction of NFC products and services before we move into the growth stage, where we can expect to see an exponential increase of products, services and organizations in the NFC space.

In the next three to five years, we see that a concern regarding a monopoly on NFC users could be an issue. Much like Mobile Number Portability (MNP), governments and market participants will have to iron out the details, allowing hassle-free management and migration of services and applications on an NFC handset from one provider to another.

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