Report: Compatible Standards Key for Smart Card Market
In a new analysis, research firm Frost & Sullivan says the pace of the adoption of contactless smart cards internationally may be hindered without compatible standards. According to Frost’s report “World Contactless Smart Cards Markets,” 121.7 million smart-card units were shipped in 2004 and the market is expected to reach 847.3 million by 2009.
The report says convenience and speed of transaction won’t be enough to spur the industry’s growth and is being held back by a profusion of standards. Frost says that even ISO 14443, the most prominent standard, has two different varieties.
The report and analysis was released on March 29.
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