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. According to a new white paper published by Tractica, 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 analyzes 10 key trends that are influencing the development of the global biometrics industry, and is available for free download on the firm’s website.
“Use cases, above all else, define biometrics. Technology enables, but does not define this market,” says principal analyst Bob Lockhart. “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.”
Tractica’s white paper examines 10 key trends that will be key factors in the ongoing evolution of the biometrics market, including the following:
- 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
Tractica’s white paper, “Biometrics: 10 Trends to Watch”, highlights 10 key market trends for biometrics hardware and software that Tractica has identified as part of its ongoing research and analysis that forms part of the firm’s Biometrics Advisory Service. The white paper is published in partnership with Biometric Update, a leading industry source for news, analysis, and research about the global biometrics market. A full copy of the white paper is available for free download on Tractica’s website.