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Improving Customer Journeys with Biometric Authentication Systems
Biometric Technologies Enhance the Customer Experience While Complying with the Highest Security Standards
27-May-2021
North America
Market Research
The global biometrics market is growing fast because of the ubiquity of some biometric modalities, such as fingerprint and facial recognition. The deployment of biometric technologies is increasing across different business sectors because of their ease of use, high security and assurance, and quick scalability.
In recent years, businesses have been applying biometric technologies for identification, verification, and authentication processes, particularly to enhance customer journeys and improve the customer experience (CX). Consumers are demanding more secured customer journeys but not at the expense of a poorer CX. Passwords are becoming obsolete for businesses and end users alike because they are difficult to remember, can be easily hacked, tend to make the authentication process longer, and increase the probability of breaches. In 2020, hacker attacks increased three-fold in one year. Biometric technology advancements are helping organizations come up with more innovative business processes that can strike an adequate balance between security and CX simultaneously.
Advanced biometric modalities, such as behavioral biometrics, palm vein biometrics, and artificial intelligence (AI)-powered biometrics, are gaining traction based on the need for higher accuracy and faster response times for high-end deployments. Biometric technologies are becoming a critical element for businesses' digital transformation roadmaps, and the emergence of new CX use cases enabled by advances in AI, Internet of Things (IoT), and digital payments assures a bright future for this segment of the market. This report analyzes different trends, use cases, market opportunities, and drivers and restraints of biometric applications for an enhanced CX.
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Biometric Authentication Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Definitions
Definitions (continued)
Definitions (continued)
Evolutions of the Contact Center
Approaches to Authentication
Biometric Authentication and the CX
Biometric Authentication and the CX (continued)
Growth Environment—Evolution of Identity Authentication Techniques
How Do Biometric Systems Work?
Biometric Authentication Modalities
Key Metrics for Measuring Biometrics Technology
Biometric Modality Options in the CX Space
State of the Biometrics Market
Benefits of Biometric Authentication
Limitations of Biometric Authentication
Biometric Authentication Use Cases in the CX Space
Biometric Authentication Use Cases in the CX Space (continued)
Key Trends Across Sectors
Strategic Factors for Vendors
Growth Drivers—Biometric Authentication Market
Growth Restraints—Biometric Authentication Market
Biometric Solutions—Decision-making Factors
Key Deployment Considerations for End-user Organizations
Biometric Authentication Provider Profiles
Vendor Profile—AU10TIX
Vendor Profile—Authenteq
Vendor Profile—Nuance
Vendor Profile—Phonexia
Vendor Profile—Onfido
Growth Opportunity 1—Partnerships and Collaboration with Hardware, IT, and Network Technologies Vendors
Growth Opportunity 1—Partnerships and Collaboration with Hardware, IT, and Network Technologies Vendors (continued)
Growth Opportunity 2—Integration with Conversational AI Solutions
Growth Opportunity 2—Integration with Conversational AI Solutions (continued)
Growth Opportunity 3—Multimodal Biometrics
Growth Opportunity 3—Multimodal Biometrics (continued)
Growth Opportunity 4—AI and Blockchain
Growth Opportunity 4—AI and Blockchain (continued)
Growth Opportunity 5—Integration with Payment Systems
Growth Opportunity 5—Integration with Payment Systems (continued)
List of Exhibits
Legal Disclaimer
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A tailored session with you where we identify the:- Strategic Imperatives
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Impacting your company's future growth potential.
| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Federico Teveles |
| Industries | Information Technology |
| WIP Number | MFE8-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 99D5-A1 |