Smart Card Market Projected to Hit $158.5 Million by 2011

PALO ALTO, Calif.

Revenues in the global corporate security smart card market totaled $90.4 million in 2005 and can reach $158.5 million in 2011, according to a new analysis by Frost & Sullivan, a global growth consulting company.

Frost & Sullivan Senior Research Analyst Michelle Foong says high profile security breaches covered by the media and support from government initiatives in some North American regions contribute to the greater attention being paid to smart card access control products.

“The sharp increase in security threats confronting organizations today makes the case for smart card-based access control solutions more compelling than ever,” Foong says.

Smart card-based technologies, the analysis finds, are suitable for companies whose employees use wireless devices to access company networks, as this creates a need for more secure logical access control. Smart card solutions permit integration of biometrics, two-factor authentication and other more secure methods of identification.

Smart card solutions also enable educational institutions to control student entry and allow students to electronically pay for school items.

For more information, contact Frost & Sullivan’s Tori Foster at (210) 477-8448.

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