The fact that the use of connected devices has become a part of everyday life has seen consumers become increasingly aware of security and safety risks. “Eurosmart and its members seek to take up this challenge and play a leading role in encouraging the uptake of secure connected devices. Our industry is a leader in the provision of cutting-edge technologies that protect connected devices and users alike. In this respect, we commend the European Commission for putting the issue of ICT security labelling on the table. We strongly believe that this market tool will help to empower end-users to confidently identify and purchase secure connected devices”, said Eurosmart President Didier Sérodon.
Recently, there has been a huge increase in the use of biometric technologies in smartphones to provide a greater level of security and convenience. “This trend raises concerns as to how these highly sensitive data will be protected. Secure elements are the most ideal technology for combining the protection and privacy of biometric data with other identity attributes. In fact, smartphones with embedded secure elements are increasingly used for a wide range of applications such as transport, mobile identification and payment”, added Sérodon.
Mobility and contactless transactions ensure customer convenience and are driving forces in the market. “The move to contactless cards in many established payment markets continues to be a growth driver (+7% in 2016). On the other hand, increased mobile connectivity due to the ongoing migration to 4G networks across most regions has boosted demand for SIM cards, with approximately 5.45 billion shipments in 2016. Whilst Mobile Network Operator (MNO) consolidation had an impact on growth (+2.8%) in 2016, the emergence of a new MNO in South East Asia contributed to a positive performance”, Sérodon revealed.
In the payment sector, the chip payment card migration phase is nearing completion in China and is at a very advanced stage in the US, accounting for 2.9 billion secure elements shipped in 2016. “Migration from unsecure magnetic stripe payment cards towards EMV chip cards in regions such as Africa, South East Asia and LATAM has boosted market demand. In India, EMV adoption, backed by government initiatives, has also contributed to this upward trend”, explained Sérodon.
“In 2016, Eurosmart can once again report remarkable growth (+12%) in the government and healthcare sectors and 2017 forecasts consolidate these positive results with an estimated growth of 11%”, said Sérodon. National eID projects and the adoption of ePassports are, and will continue to be, the main market drivers.
Eurosmart figures and forecasts reveal that the Smart Security Industry has grown immensely over the past few years. “Our industry, which comprises all major European IT companies, plays a significant role in improving the security of digital solutions and safeguarding the fundamental rights of EU citizens while also creating jobs and fostering European competitiveness in the global market”, Sérodon concluded.