The global market for biometrics is developing rapidly, as a variety of conditions converge to create increasing demand for biometric technologies among consumers, enterprises, and governments alike. That is according to a new white paper published by Tractica, a Colorado-based company. The US firm says use cases that were once a gleam in the eye are now reality.
Biometric voter registration removes barriers of poverty and illiteracy, and it can run on a tablet. Consumers can authenticate financial transactions with a fingerprint, voice, eyes, or even an electrocardiogram, all with far lower risk than passwords that can be stolen and used on the other side of the world. The white paper lists ten key trends that are influencing the development of the global biometrics industry, and is available for free download on the firm’s website.
Principal analyst Bob Lockhart says: “There is little evidence of point solution selling or customers being seduced by impressive technology. Even vendors with unique technology talk first about solving problems. Biometrics is democratic; everyone has eyes, voices, fingers, or at least a pulse. This technology serves all economies.
“Use cases, above all else, define biometrics. Technology enables, but does not define this market. There is little evidence of point solution selling or customers being seduced by impressive technology. Even vendors with unique technology talk first about solving problems. Biometrics is democratic; everyone has eyes, voices, fingers, or at least a pulse. This technology serves all economies.”
The paper examines ten trends that will be key factors in the evolution of the biometrics market, including:
Market drivers are converging on biometrics
Use cases sell; technology does not
Non-consumer use cases dominate revenue, but at a cost
Software-only solutions will be strong
Finance will continue to be a strong vertical market
Healthcare biometrics is the next big thing
Vertical industry specialists can succeed
Developing economies represent a good market opportunity
Voice and speech recognition will be strong modalities
New vendors entering the market will have tough times
