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Contactless smart card revenue 'to exceed £1.4bn by 2015'
3 Jul 2009

The contactless smart cards market will cross the $2.35 billion (£1.4 billion) revenue marker within six years, according to industry analysts.

Researchers from Global Industry Analysts predict that contactless smart cards will increasingly be adopted beyond transit systems where they are already widely used.

The largest end-use segment in terms of revenue was identified as the government ID market, where there exists a need for contactless smart cards in programmes such as identification cards and electronic passports.

Global Industry Analysts said: "The spill-over effect of various government programmes proved to be the major driving factor for the growth in overall contactless smart cards market."

According to the Smart Card Alliance, governments typically use this technology to enable secure access to buildings, facilities, networks and computers for authorised staff.

It notes that organisations using smart cards for employee identification systems benefit from lower management and administration costs as well as increased security and user convenience.