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The biometrics industry, while fairly mature, has seen a recent resurgence in interest from customers that are seeking new ways to harden their security capabilities and harness new security measures to prevent increased fraud or theft due to mistaken or fraudulent identity. While identity verification has remained tied to a physical credential held by an individual—be it a physical ID card, token, or specific username and password credentials—these identity verification measures have all been found to be vulnerable to hacking or theft. By using a person’s physical biometrics—whether a fingerprint, face, iris, voice, or veins in the palm or finger—as well as new biometric solutions that center on an individual user’s behaviors—their gait, speech style, interactions with a system or application—as a user’s identity credential, organizations can feel much more secure in knowing that the individuals accessing specific services or applications are truly who they claim they are. Outside of the traditional use cases for biometrics, such as financial and payment processing transactions or border security and national ID programs, new biometric use cases are being found through more digitized access control systems, digital identity programs for airport travelers or retail partners, and commercial entities looking to update their access policies or include more robust controls. In addition to broader use cases for biometrics, the need for increased accuracy and technical capacity of many solutions to use multiple biometric modalities to carry out accurate scanning, verification, and authentication have accelerated the market’s trajectory.
This research service includes competitive insights on top vendors within the global biometrics market for security use-cases as well as Frost & Sullivan’s proprietary Frost Radar™ benchmarking analysis. This benchmarking evaluates each vendor in terms of overall revenue growth, product and solution offerings, growth strategy, commitment to innovation, and understanding of current and future market trends. The vendors profiled were determined at the analyst team’s discretion regarding solution focus solely on biometric solutions tailored to specific security applications and carried out through physical and behavioral biometric identity solutions. Benchmarking analysis and information includes:
Key Issues Addressed
Author: Danielle VanZandt
Global Demand for Biometrics in Security, Forecast to 2025
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