Magnetic Stripe to Smart Card Conversion Growing

According to IMS Research in its November 2009 report entitled, "The World Market for Electronic Physical Access Control Equipment," multi-technology readers are forecast to ramp up as organizations attempt to future proof themselves, and this market, worldwide, is forecast to be the fastest growing reader market with a CAGR of 14.2 percent. 

Earlier, in July 2008, IMS had reported that 13.56 MHz smart cards and magnetic stripe readers were growing at compounded annual growth rates (CAGRs) of 23.6 percent and -1.2 percent to market shares of 38.6 percent and 4.0 percent by 2012, respectively.  In IMS' most recent report, the firm said it expects contactless smart card shipments to break the one billion barrier in 2014.  The report's analyst, Don Tait, said, "The market for contactless is set to nearly double between 2008 and 2014 as the three largest end-user sectors, government and healthcare ID, transportation and payment and banking cards, all see contactless gain more traction."

Access control installations in locations with multiple buildings, diverse user populations, and disparate systems for identity-based applications such as college campuses, airports and hospitals realize significant benefits from multi-technology migration solutions.