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World Smart Card Readers & Terminals MarketsPublished by: Frost & Sullivan Published: Nov. 23, 2004 Table of Contents1. Executive Summary 1. Market Overview 1. Executive Summary 2. Total Smart Cards Readers Market 1. Total Market Analysis 1. Market Overview 2. Drivers a. Advent of Contactless PC/SC Reader Technology b. Introduction of the NETC@RDS Project in Europe c. Drive Towards Smart Card-enabled Passports Will Boost Growth d. Increasing Number of National ID Projects 3. Restraints a. Advent of USB Smart Cards b. Competition from Alternative Technologies c. Cost Concerns 4. Challenges a. Standardization of Technology for Government Projects b. Helping organizations understand returns on investment in access control systems 5. Global Market Analysis and Forecasts 2. Geographic Analysis 1. Overview 2. North America 3. Europe Middle East and Africa 4. Asia Pacific 5. Latin America 3. Frost & Sullivan Awards 1. Frost & Sullivan Market Leadership Award 2. Frost & Sullivan Competitive Strategy Leadership Award 3. Total Smart Cards Terminals Market 1. Total Market Analysis 1. Market Overview 2. Drivers a. Continuing EMV Migration b. Introduction of Smart Card and IP Technology into National Healthcare Systems c. Multiple Applications and Competitive Differentiation 3. Restraints a. Target Corporation Withdrawal of Smart Card Program -- A setback to the U.S. Smart Card Terminal Industry b. Saturating European Market c. Absence of EMV Mandate in Many Regions 4. Challenges a. Providing a Business Case for Chip Cards b. Increasing the Growth of Multi-application Projects c. Education on Migration Issues is Required to Highlight the Importance of Smart Card Terminals d. Challenges in adopting a Modular Approach to manufacturing 5. Global Market Analysis and Forecasts 2. Geographic Analysis 1. Overview 2. North America 3. Europe Middle East and Africa 4. Asia Pacific 5. Latin America 4. Total Smart Cards Readers and Terminals Market Share Analysis 1. Reader Market Share Analysis 1. Global Market 2. North America 3. Europe Middle East and Africa 4. Asia Pacific 5. Latin America 2. Terminal Market Share Analysis 1. Global Market 2. North America 3. Europe Middle East and Africa 4. Asia Pacific 5. Latin America AbstractCreating a Strong Business Case for Smart Card Payment Remains a Major ChallengeOne of the primary challenges facing the global smart cards market is the need to create a convincing business case for smart card payments. The impact of this challenge is particularly evident in North America, where the advantages of chip cards are not as keenly felt as they are in Europe and Asia due to the lower fraud rates and cheaper telecom rates. Therefore, card issuers are expected to identify an alternative and more compelling value proposition for the consumer. Although contactless payment has gained popularity in North America and manufacturers are increasingly launching readers with contactless functionality, it is yet to drive a large-scale migration of banking cards. This lack of a strong value proposition - at least in North America - is likely to restrain the migration towards chip-based terminals. This research evaluates the potential of the smart card readers and terminals market on a global level. The study provides in-depth regional analysis that helps to identify growth opportunities in the four major geographical markets - North America; Latin America; Europe, Middle East, and Africa (EMEA); and the Asia Pacific region. Key drivers and restraints affecting the market as well as an examination of the competitive landscape have also been provided. Smart Card Technology Gaining Importance in Physical Access Control Although contactless cards are not widely prevalent at present, their importance in access control is expected to increase rapidly - creating a strong opportunity for smart card readers. Additionally, the recent recommendations of the International Civil Aviation Organization (ICAO) to move towards smart-card enabled e-passports have played a critical role in driving this technology. "Following ICAO’s recommendation for e-passports, federal agencies in the United States are currently evaluating the different technologies available for such an implementation," notes the analyst of this research service. "When launched, this is likely to become the largest smart card project in the country, involving the embedding of contactless chips into passports that can be accessed by readers at the airports." Looming EMV Deadlines in Banking Sector Enhance Opportunities for Readers and Terminals "The smart cards market continues to benefit from the Europay, MasterCard, Visa (EMV) migrations in the banking sector across the world," says the analyst. EMV deadlines for liability shift in various regions - for instance, January 1, 2005 in Western Europe and 2006 for Central and Eastern Europe as well as for Africa - present substantial opportunities for the readers/terminal market. Latin America has also shown tremendous growth in terminal installations with Brazil and Mexico being well on course to accomplish the liability shift in the following year.
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