Smart Card Market

The market for Biosensor’s FPS is not only related to the market for smart cards, but is heavily influenced by the current security climate. As such, the potential markets are worldwide security and authentication. These markets includes federally mandated biometric e-passports for visa waiver countries, national ID cards, facility access cards, and secure commerce debit and credit cards. Obviously this market is enormous, and even with many competitors, a small initial market share will represent millions of cards and sensors. As our system is the only system with on card fingerprint matching and authentication with privacy. protection, we believe that it is the only biometric system the consumer will accept.

According to the Smart Card Alliance (SCA), the smart card market was 3.4 billion units in 2001 and is growing at a rate in excess of 30% each year (SCA, 2001). Sales of smart cards in Europe accounted for 90% of worldwide smart card shipments in 1995, while the Americas accounted for only 2%. Demand in the US was expected to be 28 million smart cards in the year 2000 with a growth rate of 60%. By the year 2002, the ratios are expected to change to 40%, 25% and 20% for Europe, Asia and the Americas, respectively. Asia, Latin America, and North America are areas generally believed to be of greatest potential for smart card growth in the next three years.