A smart market

09 March 2010

The smart card market is predicted to grow over the next four years
The smart card market is predicted to grow over the next four years

The smart card market is predicted to grow over the next four years.

In Europe, the security credential convergence market is driven by the use of smart cards for both physical and logical access, video content analysis for the automation of emergency procedures, and by the integration of building management systems with security systems.

New analysis from Frost & Sullivan, European Security Convergence Market, finds that the market earned revenues of €700.5 million in 2008 and estimates this to reach €2,400.2 million in 2014.

“Efficient allocation of security resources requires a risk-based approach and greater transparency related to security strategy,” notes Frost & Sullivan Industry Analyst Matia Grossi. “On the one hand, the economic recession is accelerating the process for increased efficiency, on the other, commercial and government sectors alike are slowing down reorganisations or technology migrations, which are likely to involve large capital expenditure (CAPEX).”

There are many benefits that the convergence of physical and logical security brings to an organisation, starting with enhanced security for different types of assets (both intellectual and physical) to greater efficiency and operation savings brought about by single-point provisioning of multiple systems/applications and also immediate savings due to shared infrastructure like cabling.

“A fully integrated/converged system requires direct access to all the security systems, information sources and databases; direct access to all the applications,” remarks Grossi. “In order to have full functional integration of different physical and logical security systems, databases and technologies involved, there needs to be adherence to specific regulations, standards and protocols.”

Ensuring all this is a costly exercise, and as the benefits are still uncertain (in terms of return on investments), companies are putting a halt on them until the economy has recovered. The first security or IT company, or set of companies to develop a fully functional converged platform will enjoy a strong competitive edge in the market.

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