The market is characterized by established brands with high revenue; high R&D capital reserves and well instituted distribution channels. But, the market place is also being disrupted by firms with innovative solution that have emerged to solve specific problems. With cost effective solutions offering greater security, companies will be able to position themselves uniquely.
Biometric security isn’t a new phenomenon, but until recently its real life applications and benefits have been underutilized by companies in most industries. However, recent buzz worthy announcements like Apple using Touch ID for enhanced security as part of Apple Pay and Miami International Airport integrating biometric fingerprint data into their passport control kiosks, are proving that biometric security is finally poised to become the norm.Read the whole thing. The piece does a really good job of tying together various issues in the overall biometrics landscape.
SIBA is a non-profit association that was established in February 2014 to steadfastly promote responsible policy, education and implementation of solutions that protect and secure identity across private and public platforms.
Potter was chosen because of his vast experience in both the government and industry. He served as the Identity Services Branch (ISB) Deputy Assistant Director at the U.S. Visitor and Immigrant Status Indicator Technology (US-VISIT) program and was US-VISIT's Biometrics
Systems Program Manager for a number of years, responsible for the management and oversight of one of the largest biometrics systems in the world. Today Potter is the vice president of L-3 NSS' Global Solutions Sector and leads all L-3 NSS Border Security and Biometrics programs.
...IBIA Vice Chairman Walter Hamilton pointed to recent years’ “surge in the use of biometric technologies for mobile banking and other e-authentication applications,” adding that “NIST should support this trend by providing guidance on how to ensure the effective implementation of biometrics as an authentication token rather than narrowly limiting its use.”
Tractica’s approach is to focus on use cases, which Lockhart says “define the biometrics market opportunity.” The company has classified 142 use cases, and offers a profile specific to each with respect to “business function, industry, and modality.” And the advisory service consider a wide range of biometric modalities, from the widespread (fingerprint scanning, facial recognition) to the more obscure (electrocardiogram and DNA recognition).Technology isn't an application, so the focus on use cases is appropriate.
Tractica’s forecasts indicate that key industries in the biometrics market over the next decade are likely to be finance, consumer devices, healthcare, and government, followed by enterprise applications, defense, education, law enforcement, and non-government organizations. Key use cases that are likely to drive biometrics revenue over the next decade include consumer device authentication, mobile banking, automated teller machines (cashpoints), government IT systems, point-of-sale transactions, pharmacy dispensing, and wearable device authentication.
Venture capitalists poured a record $2.3 billion into cybersecurity companies in 2014, a year marked by frequent reports of hacks on high-profile companies. Yearly investment in cybersecurity startups been on the rise for several years now, and is up 156 percent since 2011, according to CB Insights. The trend will likely continue, as 75 percent of CIOs surveyed by Piper Jaffray said they would increase spending on security in 2015.
Join Frost & Sullivan's upcoming complimentary webinar, "The Future of Biometrics," to understand the potential of the market and its impact on current businesses. Industry leaders should attend this webinar to learn how biometrics will boost convergence and growth in other markets.Looks interesting.
A major driver of the market is the high demand for security. The Government sector, especially the law enforcement bodies, is in need of more secure and protected security measures. The increase in investments by the government in biometric solutions is a major boost for the Biometrics market in Germany.
Further, one of the major challenges that hinder the growth of the market is the accuracy of biometric systems. The accuracy of the biometric system may not be high enough in certain applications such as negative identification or if the fingerprints are faded, which is a special physical characteristic.
Analysts forecast the Law Enforcement Biometrics market in Germany to grow at a CAGR of 17.6 percent over the period 2013-2018.
Although not yet commonplace, biometrics are expected to become so over the next three to five years. Currently, the biggest users are governments which have already implemented biometrics into citizen identity documents (such as passports and national ID cards) and it is estimated that by 2015 biometric citizen IDs will outnumber non-biometrics by 4:1. In 2006, the UK joined 40 other countries in introducing e-passports that use facial recognition technology to authenticate citizens.Read the whole thing.
What a year for the Biometrics and Identification Industry! The past year in biometrics was explosive. Biometrics has become real. From the rapid growth of the FIDO Alliance to the Consumer Electronics Show that hailed in 2014, biometrics are being talked about everywhere! Industry verticals like Border Control, Financial, Healthcare, Law Enforcement, National ID, etc. are all moving aggressively ahead into 2014. Our industry made headlines in 2013 and will continue to do so in 2014, so …be prepared…be innovative …be ready to capitalize on a rapidly growing marketplace.Here's a link straight to the 33-page PDF report.
We received responses from Canada, Spain, Russia, China, Ireland, Mexico, Brazil, Hong Kong, Sweden, Germany, UK, France, Korea, The Netherlands, Taiwan, Lithuania, Singapore, Japan, Italy, Malaysia and the USA.
Alan Goode, Managing Director of GoodeIntelligence.com said of the acquisition - "The acquisition of Validity Sensors, by Synaptics., is another sign of how important biometrics is becoming to consumer technologies. I believe this is a good match between Synaptics, who has a strong track record of developing touch-based consumer solutions, and one of the remaining independent mobile biometric sensor manufacturers. This is about giving consumer electronics products better, more convenient, security and opens up fingerprint-based biometrics to other consumer devices. We expect that additional biometric modalities, including voice, facial, eye and behavioral will be quickly integrated into other electronic devices and cloud-based services.”
Intel [...] Capital, the global investment arm of chipmaker Intel Corp., is setting up a $100 million fund to invest in "perceptual" computing technologies like voice and gesture control, company executives said. The fund will invest over the next two to three years in firms making software and applications with functions like imaging, gesture and voice control, emotion sensing and biometrics, the company said.
