Eurosmart forecasts secure element shipments to pass 10 billion in 2018

November 30, 2017 - 

The secure element market will grow by 3.3 percent in 2017, and surpass 10 billion shipments in 2018, Eurosmart announced this week in its annual market forecast.

Evolving technology is resulting in new form factors, markets, and use cases for secure elements, according to the announcement, and Eurosmart certifications also evolve to maintain convenience and security for organizations and individuals.

“Apple created momentum making biometrics just ‘cool,’” said Mouille. “Users favour biometrics over PIN and password for commercial applications since it provides a seamless and secure experience. Eurosmart members have been leading this biometrics wave for the last 20 years in a wide range of applications such as payment and banking, identification, travel documents and border management or access management. Currently, we are at the forefront providing both biometric technologies and solutions designed to protect and ensure privacy of biometric data. Eurosmart has drawn on this expertise creating the Biometrics committee.”

The Eurosmart Biometrics Committee is led by Fingerprint Cards, which, as previously reported, joined Eurosmart in Q3 to participate in its standardization work.

Shipments of mobile and IoT embedded secure products will grow 14 percent in 2018 to more than 600 million, as Eurosmart notes growth will be driven by IoT deployments in automotive, smart grids, smart cities, “Industry 4.0,” and other verticals, as well as regulatory compliance requirements.

Adoption of contactless solutions for the financial services sector continues to grow, as does the government and healthcare market, driven in significant part by national ePassport and eID programs in emerging markets. While the telecom sector is forecasted to make up half of secure element shipments in 2018, its growth will be relatively flat, at 1 percent, according to Eurosmart.

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About Chris Burt

Chris Burt is a writer and contributor to Biometric Update. He has also written nonfiction about information technology, dramatic arts, sports culture, and fantasy basketball, as well as fiction about a doomed astronaut. He lives in Toronto. You can follow him on Twitter @AFakeChrisBurt."