NanoMarkets Report

Powered Smart Card Markets 2012

Nano-585

Published Oct. 2012

Entire contents copyright NanoMarkets, LC. The information contained in this report is based on the best information available to us, but accuracy and completeness cannot be guaranteed. NanoMarkets, LC and its author(s) shall not stand liable for possible errors of fact or judgment. The information in this report is for the exclusive use of representative purchasing companies and may be used only by personnel at the purchasing site per sales agreement terms. Reproduction in whole or in any part is prohibited, except with the express written permission of NanoMarkets, LC.

Table of Contents
Chapter One: Background and Objectives of this Report...............................................1 Page | i 1.1 Background to this Report ..................................................................................1 1.2 Objectives and Scope of this Report....................................................................1 Chapter Two: Powered Smart Card Technologies and Products ....................................2 2.1 Powered Smart Cards: Competitive Advantages and Disadvantages Compared to Other Smart Cards ...................................................................................................2
2.1.1 Comparison with Conventional Smart Cards ................................................................................. 2 2.1.2 Advantages of Powered Smart Cards ............................................................................................ 2

2.2 Enhanced FunctionalityWhich Smart Card Applications Need Power? ..............4

2.2.1 One-Time Password Cards for Enhanced Security ......................................................................... 4 2.2.2 Customer Loyalty and Gift Cards ................................................................................................... 4 2.2.3 Secure ID, Medical Information, and Biometric Cards .................................................................. 5

2.3 An Overview of Some Current Powered Smart Card Products .............................6

2.3.1 E-Bay/PayPal Security Key ............................................................................................................. 6 2.3.2 MasterCard and Visa OTP CardsLosing Ground to Mobile Solutions? ....................................... 6 2.3.3 Powered Smart Card Manufacturers ............................................................................................. 7

2.4 Components and Technologies for Powered Smart Cards ....................................8

2.4.1 Thin-Film and Printed Batteries for Powered Smart CardsImportant Factors ........................... 9 2.4.2 Suppliers of Batteries for Powered Smart Cards ......................................................................... 10 2.4.3 Display Types Used in Powered Smart Cards .............................................................................. 11 2.4.4 Other Components: Solar Power, Biometric Sensors, Keypads, Etc. ........................................... 13

2.5 Key Points from this Chapter ............................................................................ 14 Chapter Three: Powered Smart Card Markets and Forecasts ...................................... 16 3.1 Forecasting Methodology ................................................................................. 16
3.1.1 General Methodology .................................................................................................................. 16 3.1.2 Data Sources ................................................................................................................................ 16 3.1.3 Scope of the Forecast .................................................................................................................. 17 3.1.4 Assumptions ................................................................................................................................ 18 3.1.5 Alternative Scenarios ................................................................................................................... 19

3.2 Eight-Year Forecast of Powered Smart Cards..................................................... 20

3.2.1 Powered Smart Card Shipment Forecast ..................................................................................... 20 3.2.2 Powered Smart Card Shipment Revenue Forecast by Application .............................................. 23 3.2.3 Powered Smart Card Shipment and Revenue Forecast by Region of Use .................................. 26 3.2.4 Forecast of Batteries for Powered Smart Cards .......................................................................... 28 3.2.5 Forecast of Displays for Powered Smart Cards ............................................................................ 38

Acronyms and Abbreviations ..................................................................................... 54 About the Author ................................................................................................... 54

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List of Exhibits
Exhibit 2-1: Advantages and Disadvantages of Powered Smart Cards ......................................... 3 Exhibit 2-2: Overview of Selected Powered Smart Card Providers ............................................... 7 Exhibit 3-1: Analysis of Smart Card Market 2012-2019 ............................................................ 22 Exhibit 3-2: Powered Smart Cards by Application 2012-2019 ................................................... 24 Exhibit 3-3: Powered Smart Cards by Region 2012-2019 ......................................................... 27 Exhibit 3-4: Printed Batteries in Powered Smart Cards 2012-2019 ............................................ 29 Exhibit 3-5: Thin-Film Batteries in Powered Smart Cards 2012-2019 ......................................... 32 Exhibit 3-6: Summary of Volume of Batteries in Powered Smart Cards 2012-2019 (Millions) ...... 34 Exhibit 3-7: Summary of Market Value of Batteries in Powered Smart Cards 2012-2019 ($ Millions) .................................................................................................................................... 36 Exhibit 3-8: Analysis of Addressable Market for Displays in Powered Smart Cards 2012-2019 ..... 39 Exhibit 3-9: Electrophoretic and Related Displays in Powered Smart Cards 2012-2019 ............... 40 Exhibit 3-10: Electrochromic Displays in Powered Smart Cards 2012-2019 ................................ 43 Exhibit 3-11: Liquid Crystal Displays in Powered Smart Cards 2012-2019 .................................. 46 Exhibit 3-12: Light-Emitting Diode Displays in Powered Smart Cards 2012-2019 ....................... 49 Exhibit 3-13: Summary of Quantity of Displays in Powered Smart Cards 2012-2019 (Millions) .... 52 Exhibit 3-14: Summary of Market Value of Displays in Powered Smart Cards 2012-2019 ($ Millions) ....................................................................................................................... 53

Chapter One: Background and Objectives of this Report

1.1 Background to this Report
There is nothing new about smart cards; they have been used by the billions since the 1980s, although they have proved much more popular in geographies other than the U.S. However, they Page | 1 are in the process of taking a great leap forward. A new breed of powered smart cards, with onboard power, are emerging and have the potential to bring considerably more applications to the humble credit and gift card, as well as more security. A smart card is a pocket-sized card with an embedded chip that can receive, transmit, and process information. The power for the chip may come from an external reader, through inductionor most recentlyfrom an onboard thin-film or printable battery. The potential volumes for these smart cards are quite large; today, there are about 7 billion smart cards produced annually worldwide. And one credit card company can produce 300 million cards a year. The addition of battery power to smart cards adds greater functionality to the card and, in some ways, makes the card easier to design. Most notably, addition of onboard power enables the cards to come with an integrated information display, which could, for example, be used for security or marketing purposes.

1.2 Objectives and Scope of this Report

With this potential in mind, NanoMarkets has published this report, which quantifies the markets for powered smart cards and their major components. Specifically, the objective of this report is to quantify the markets for powered smart cards by application and by region, and to quantity the market for two key components of powered smart cardsbatteries and displaysover the next eight years, in both volume/quantity and revenue terms. We examine the latest component technologies, strategies, and technical developments of the industry. NanoMarkets has provided coverage of powered smart cards now for several years as part of its analysis of the markets for low-cost displays and printed batteries, and in this report we share the insights that we have garnered into the market opportunities that will emerge and grow in the powered smart card market. The powered smart card end-use markets covered by this report include: one-time password (OTP) cards, gift and customer loyalty cards, and identification (ID) or medical information cards. We also assess the differences in the potentials for powered smart cards in these applications by region, namely in Europe, Asia-Pacific, and the Americas. Batteries for powered smart cards are broken out into two general categories: printed batteries, which dominate the market for onboard power today, and thin-film batteries, which have the potential to be adopted more widely in the coming years. Display technologies used in powered smart card applications include liquid crystal displays (LCDs), light-emitting diode (LED) displays, electrophoretic displays (EPDs), and electrochromic displays.

Chapter Two: Powered Smart Card Technologies and Products

2.1 Powered Smart Cards: Competitive Advantages and Disadvantages Compared Page | 2 to Other Smart Cards
Potentially, powered smart cards can be used for enhanced security of ATM/debit/credit cards, portable healthcare files, airline tickets or boarding passes, and frequent flier cards. They can also be used to authorize stock trades, open doors to the office, check out books at the library, store digital cash to pay for subway rides, parking meters and candy at vending machines, and even as car and hotel key devices. But it is important to recognize that most of these functions can be carried out using currently available, conventional, non-powered smart cards. Thus, in any discussion of the market for powered smart cards, we must first distinguish their potential niches within the larger smart card market.

2.1.1 Comparison with Conventional Smart Cards

Conventional smart cards contain embedded circuitry and either or both a memory and microprocessor chip. These cards can receive input, process the information, and deliver output, and they come in both contact and contactless formats: Contact-style smart cards have a contact area of approximately 1 square cm comprising several gold-plated contact pads. These pads provide electrical connectivity when inserted into a reader. The card reader provides connectivity to a host, such as a computer or point-of-sale (POS) terminal, or a mobile phone. Contactless smart cards, and their readers, have embedded antennae and transmit information using radio frequency (RF) induction technology (at data rates of 106-848 kbps), instead of through physical connection to a pad. These cards require only proximity to communicate. Higher security applications use standardized protocols that limit the read distance; lower security applications may employ RF frequencies that can be read over larger distances.

Importantly, in both cases, the card reader supplies all of the necessary power. In the case of contact cards, the reader's power source is harnessed through direct contact. In contactless smart cards, an inductor captures some of the incident RF interrogation signal, rectifies it, and uses it to power the card's electronics.

2.1.2 Advantages of Powered Smart Cards

Sometimes, smart cards are loaded with enough additional features that powering them with an external power source becomes difficult or even impossible. For example, contactless, RF-powered smart cards are constrained in their operation by their power consumption. Contactless smart card application designers must pay attention to power consumption peaks, high average power consumption, and supply voltage drops. If these hazards are not handled properly, the smart card's operational stability is compromised.

In non-powered smart cards, these hazards are addressed by using special designs. For example, a novel multi-core smart card design, which improves the operational stability of some smart cards in use today, has been designed at the Graz University of Technology in Austria. The researchers there say that their tests show that harmful power variations can be reduced by up to 75 percent and predefined supply voltage levels are maintained properly. However, the addition of onboard power in the form of a battery enables smart cards to include a lot more functionality, and would simplify design issues for contactless smart cards. The power-draining features that the industry would like to add to smart cards are, in some cases, not yet well defined, but the product designs that are currently being considered include adding simple displays, sensors, and sound. Several companiesmost notably Bank of America, PayPal/e-Bay, and some Visa issuers in Europealready have powered smart cards in circulation, primarily for enhanced payment security through one-time password (OTP) generation. The advantages/disadvantages that powered cards present over conventional cards are shown in Exhibit 2-1. In all cases, the technical advantages of adding functionality are at least partially overshadowed by the fact that adding these features greatly increases the cost of the card. Thus, benefits of the added functionality must be carefully weighed against the added cost in each application considered for a powered smart card. Page | 3

Exhibit 2-1: Advantages and Disadvantages of Powered Smart Cards

Feature of Powered Smart Card Onboard power Integrated display Advantages Increases functionality, simplifies circuit design Enables one-time password (OTP) generation Adds marketing capability Adds marketing capability Enables acoustic OTP generation (for use with phones, for example) Enhances security Disadvantages Adds cost Adds cost and complexity to fabrication Adds thickness to card Adds cost and complexity to fabrication Adds cost; adds thickness to card

Integrated sound

Biometric sensor NanoMarkets 2012

Onboard power to reduce overall costseventually: The addition of power to smart cards simplifies things for the circuit designer and may ultimately lead to a reduced cost for the card. However, in the near term, the cost of the added battery is simply too high, and the cost of migrating standards and read/write protocols to adapt to a new, powered smart card is significant. Nevertheless, we believe that, in the long run, the ability of smart cards to contain inexpensive, easily integratable onboard power sources may eventually lead to reduced overall costs for smart cards.

2.2 Enhanced FunctionalityWhich Smart Card Applications Need Power?

Even if powered smart cards are not going to penetrate the smart card market very quickly, they do remain a long-term opportunity, especially for the three, key applications identified in this section: one-time password (OTP) cards, enhanced gift and customer loyalty cards, and enhanced ID cards.

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2.2.1 One-Time Password Cards for Enhanced Security

OTP cards are the single most important application for powered smart cards, for several reasons: The ability of financial institutions to irrefutably authenticate a user through OTP, which complies with two-factor (and sometimes three-factor) authentication protocols, could potentially save financial institutions billions of dollars per year through reducing credit card fraud and hacking/identity theft. Given the money lost every year from credit card fraud, as well as the damage done by the growth of hacking incidents, there is an implicit funding mechanism supporting the development and marketing of such cards by banks, credit card companies, and other institutions. Furthermore, enhanced security through OTP cards could give consumers additional confidence in electronic commerce applications (phone banking, online shopping etc.), further enabling widespread adoption. Finally, OTP security protocols are also important in corporate information security. Powered smart cards could represent a cheaper, easier-to-implement, two-factor ID authentication method for corporate user login protocols that are designed to limit access to proprietary software or hardware.

An OTP is a password that is valid for only one login session or transaction. They avoid a number of shortcomings that are associated with conventionalthat is, permanentpasswords. The most important shortcoming that is addressed by OTPs is that, in contrast to conventional password systems, they are not vulnerable to so-called replay attacks, precisely because the passwords are used only once. With an OTP card, the cardholder presses a button on the card to display the one-time password, which is generated by an algorithm programmed into the card. OTPs can be implemented in ways other than embedded in the cards. In the EuropayMasterCard-Visa (EMV) "Chip Authentication Program," for example, a reader is used. In the context of smart cards, though, OTPs must be displayed. This additional display functionality drives the need for onboard power with an integrated battery, as well as, of course, the required circuitry for computing the algorithm. The consensus is that a conventional reader-powered smart card cannot accomplish these tasks.

2.2.2 Customer Loyalty and Gift Cards

Similarly, powered smart cards may find a home in the retail sector. In this case, the value proposition involves increasing the marketability of customer loyalty and/or gift cards by enhancing the features of these cards. Certainly, in some cases the use of technology similar to

OTP generation may be part of the picture, such as to increase the security of gift cards. However, the application goes well beyond security: The display could be used to provide a remaining balance notification at the touch of a button; security could be enhanced by adding a simple keypad for PIN entry prior to displaying the balance. Page | 5 The display could be used to deliver marketing messages of various kinds, or as a decorative addition to a gift card. Addition of miniature, integrated speakers could enable the above displays to come with sound, too. Finally, onboard power in a smart card could be used to enable the fabrication of sophisticated gift/loyalty cards with multiple, interactive features, such as games with a display and sound, etc.

2.2.3 Secure ID, Medical Information, and Biometric Cards

Outside of the banking industry, there is also a need for powered smart cards, usually for the purposes of two-factor (and sometimes three-factor) authentication of a user. These applications can be found in healthcare, corporate security, government identification, and in software or hardware access across any number of sectors. The design of such cards is very similar to the design used in the banking industry. In general, the smart card has an added display that generates an OTP, contains retrievable/writable information beyond which a conventional (non-powered) smart card can deliver, or contains an additional biometric or other sophisticated sensor that requires additional power. Smart cards in healthcare: Powered smart cards are also promising for health care applications, such as to contain a patient's complete personal healthcare record (PHR) in a mobile format. In this case, the cards are designed principally for the storage of large amounts of information and must be dynamic/rewritable, but they must also sometimes be accompanied with a high level of security in order to comply with patient confidentiality regulations. These cards can be carried by the patient and can be formatted to contain the patients' complete personal health record and related legal information, like power of attorney or Do Not Resuscitate orders, as well as insurance information. Smart ID and access cards: Both the public and private sectors may use powered smart ID cards to improve identification security. Governments and corporate entities already commonly embed electronic identification into passports, IDs, and access cards; the security of these existing smart ID cards could be increased by upgrading to a powered smart ID card format that could include greater verification capability and/or the ability to contain even larger quantities of data. Biometric cards: OTP is not the only security-related application for battery-powered smart cards. Biometric smart cards include embedded sensors, usually fingerprint sensors that can positively identify the holder of the card. Only after this process takes place will the card generate a password, or otherwise permit access to a secure site.

For the biometric cards, the driver is obviously today's heightened sense of the need for security; but this type of card is expensive today, and is not likely to generate the volumes associated with a relatively simple OTP credit card in the near- and mid-term. One firm that is developing biometrically-activated cards with onboard power is Danish firm CardLab. Note that a three-factor authentication protocol, which is something like the ultimate in powered Page | 6 smart card technology, would include both an OTP generator and a biometric sensor.

2.3 An Overview of Some Current Powered Smart Card Products 2.3.1 E-Bay/PayPal Security Key
One of the most prominent proponents of OTP technology is PayPal, which is now owned by eBay. Both PayPal and eBay were early innovators in the implementation of secure methods for consumers to submit payment information for online purchases, where concerns over fraud, identify theft, and data phishing are high. Thus, it is not surprising that PayPal was one of the earliest firms to offer OTP technology to customers in the U.S., Canada, Australia, and several European countries (the U.K., Germany, and Austria). It established a security card (and an alternative security token/fob) OTP option in 2006. However, today, PayPal customers that want to take advantage of OTP technology have two options; as of August 2012, they may sign up for a free service that sends OTPs to their mobile phone via text-messaging, or they may continue to use the smart OTP card, for which they must pay a one-time fee ($29.95 in the U.S.). In other words, PayPal customers now have a totally free option that allows access to the same basic function as the fee-based OTP card that has been around since 2006. Given the ubiquity of mobile phones and text messaging in general, we expect that the free, mobile option will quickly take over, leading to obsolescence of smart OTP cards within PayPal.

2.3.2 MasterCard and Visa OTP CardsLosing Ground to Mobile Solutions?

A similar story has unfolded in parts of the banking industry, where several prominent banks are offering OTP Visa and/or MasterCard smart cards to customers, but as part of a larger more broad effort to improve payment and identification security. In these cases, mobile OTP options are part of the story as well, and, sometimes, mobile OTP generation is the only option: Bank of America has been offering OTP cards to customers for online payments since 2007 under the trade name SafePass. Use of this optional service is free as long as it is delivered to a mobile phone by text messaging, but costs the consumer $19.99 in the form of an OTP smart card. Visa Europe partnered several years ago with Australian firm EMUE to offer OTP cards to its partner banks in order to enable two-factor authentication, particularly for improved online security. However, to the best of our knowledge, only a few banks have opted to widely offer the physical OTP card option.

Similarly, Citibank offers OTP service in some countries, but only via text messaging. To the best of our knowledge, no OTP card option is available, although Citibank did release a smart card in 2011 that allows customers to push a button on the card to toggle between payment methods (credit or rewards points). In general, both Visa and Mastercard offer OTP services globally, through their Verified Page | 7 by Visa and SecureCode systems, respectively. Card-issuers can choose to participate and most prominent banks have chosen to participateby offering these services to their customers, but they need not be accompanied by issuing a physical OTP-generating card.

The lack of widespread adoption of OTP smart cards thus far is a result of two factors. First, the spread of smartphones has in some cases rendered these cards obsolete, especially for more sophisticated consumers. Secondly, the fact that issuers continue to charge customers for the added OTP service has also limited adoption. Going forward, as powered smart card costs come down, issuers may be better able to absorb the added cost without passing along the cost directly to the consumer. When that happens, the technology may have a better chance of penetrating the larger smart card market more deeply.

2.3.3 Powered Smart Card Manufacturers

Exhibit 2-2 contains an overview of several key smart card makers, with highlights of these firms' current product portfolios and outlook.

Exhibit 2-2: Overview of Selected Powered Smart Card Providers

Company ActivIDentity (U.S.) AniCa (Taiwan) Product(s) OTP tokens and cards, as well as a wide variety of ID authentication products Stored value and OTP cards that are ISO and/or EMV-compliant; Also has powered card product specifically designed for use with Apple iPhone for contactless payment capability Full range of smart card products, including powered versions (for OTP, etc.) Also offers chips, software, and subcomponents directly to other card manufacturers Offers OTP cards, but also offers mobile token products Mid-sized firm with a broad portfolio of security products, including OTP cards and smart ID cards (and tokens, fobs, etc.) Highlights Focus is on ID authentication for all sectors government, corporate, banking Active in the Asia-Pacific region; Using electronic paper displays

dz card (Thailand)

Early pioneer of the OTP card business, now offering powered smart cards to banking, ID, and government sectors; has employed Aveso electrochromic displays in its products

EMUE (Australia) Gemalto (The Netherlands)

Partnered with Visa to offer card to issuing partner banks, especially in Europe Acquired Aveso (maker of electrochromic displays) in late 2011/early 2012.

Exhibit 2-2: Overview of Selected Powered Smart Card Providers

Identita (Canada/Barbados) Powered smart cards OTP via audio and display Offers three-factor authentication with added biometric capability Plans to introduce GPS-enabled cards OTP cards for banking, customer loyalty, and security Firm offers full range of EMVcompliant powered and nonpowered smart cards targeting banking, healthcare, and security industries. OTP cards and a full range of nonpowered smart cards Firm is focused on powered smart cards only, unlike most that offer powered smart cards as part of a larger conventional smart card business. Firm also has unique, proprietary acoustic OTP generation technology. Recently, focus has shifted somewhat toward mobile payment technologies (card-free) Active mostly in Latin America, but recently acquired Italian firm Intelicard, which will expand its reach into Europe and the rest of the world.

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InCard (Italy, subsidiary of STMicroelectronics) Inteligensa (Venezuela) and Intelicard (Italy)

Nagra ID (Switzerland)

SmartDisplayer (Taiwan)

Secure Metric Technology (Malaysia)

Powered smart cards with integrated displays for OTP and other applications (dynamic CVV, balance/value check, etc.) OTP cards plus a full range of advanced security products, including tokens & fobs, and software

Works with Master Card and a group of EMV-certified partner companies working in the banking, healthcare, and ID sectors. Firm has had several early design wins in the powered smart card industry. Offers cards with either LCDs or electrophoretic displays; key partner for electrophoretic displays is E Ink (U.S.); certified by Visa Particularly active in the banking industry in Southeast Asia

NanoMarkets 2012

2.4 Components and Technologies for Powered Smart Cards

Thinness, durability, and flexibility in this sector are critical to success, because powered smartcards (and smartcards in general) must slip inside a wallet. These requirements create a need for somewhat specialized components. Specifically, as these cards and similar ones spread, they will also create derived demand for novel components including (1) new displays, like electrophoretic displays and electrochromic displays, because LCDs have drawbacks; and (2) low-cost printed or thin-film batteries, because button cell batteries are too thick. All of the applications discussed in this report are a natural fit for powered smart cards, and we expect to see them increasingly moving toward powered smart card technologies. Although market penetration of powered smart cards today remains quite small, principally because of their high cost compared to conventional/non-powered cards, in the long run, the value proposition for such smart cards will get easier and easier to make.

Economies of scale will slowly but surely be realized, and component prices will come down. In addition, more and more components will move toward printed and/or solution-processed technologies that are inherently compatible with card manufacturing. The "ultimate" powered smart card will be one that has a printed battery, but also a printed display (probably based on epaper), as well as, potentially, printed low-cost logic and even memory components.

2.4.1 Thin-Film and Printed Batteries for Powered Smart CardsImportant Factors
The obvious choice for replacement of too-thick button cell batteries in smart cards would be to use one of the new breed of thin-film and/or printed batteries that are currently being developed by a small group of companies. Among the firms in this group that are specifically targeting the smart card sector are Infinite Power Solutions (U.S.), Blue Spark (U.S.), Rocket Electric (Korea), and Solicore (U.S.). Solicore is the most important of these firms in terms of actually gaining some marketplace traction. In the face of competition from conventional smart cards and from mobile (card-free) OTP solutions, smart cards are not growing as an opportunity for printed and thin-film battery firms at the rate that was once hoped. Nevertheless, powered smart cards remain an important short-term opportunity for these types of batteries, because they offer a unique combination of characteristicsthinness, flexibility, and (potentially) low cost and compatibility with credit-card manufacturing processes. In contrast, conventional battery technologies, with their thick form factors and liquid electrolytes, are simply not ideal for integration into plastic cards. Thinness and flexibility of printed and thin-film batteries: Thinness and flexibility in the smart card sector is obviously critical, because these cards must be thin enough to slip easily into a wallet. For example, we note that printed battery manufacturer Blue Spark's UT Series is being pitched toward the smart card market on the grounds that it is the industry's thinnest battery500 microns (0.020 inches). Market impact of smart card lamination requirements: Smart cards are generally manufactured using a hot lamination process, which can last as long as 12 minutes. Conventional batteries, such as coin or button cellseven assuming that they were thin enough to be usedcontain liquid electrolytes that would not survive such high temperatures, especially in a charged state. Furthermore, there are additional safety concerns related to using conventional batteries because of potential gas or liquid release. However, we note that hot lamination is also a problem for the current generation of printed batteries from Blue Spark and others, which often use liquid electrolytes and are thus relegated to use only in cold lamination processes. Thus, an immediate opportunity for printed battery suppliers is to develop and market versions with solid-state electrolytes that can be deposited during manufacturing as a paste and then dried. This approach has been adopted by Solicore, which, as we noted previously, is the dominant supplier of batteries to the powered smart card business. Thin-film versus printed batteries in smart cards: The most obvious contenders for powered smart card applications are printed batteries, since smart cards represent a highly price-sensitive application. Lost cost, primary cell, printed batteries are a particularly good fit for a mass-market credit card that is produced in high volumes and has a low power requirement.

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