New Frost & Sullivan Report on Biometrics Technologies

PALO ALTO , Calif. - Biometrics technologies are likely to be the vital component in tomorrow's security systems, as governments and private enterprises worldwide emphasize on establishing the positive identity of people in high-security areas to prevent unauthorized access. Such measures are likely to accelerate the global adoption of various biometric technologies.

 

While acquiring a high degree of security is a priority among many customers post-9/11, the cost of the project is still a key-deciding factor for implementing biometric security solutions.

 

New analysis from Frost and Sullivan (www.autoid.frost.com ), World Biometrics Market , reveals that this market generated revenues worth $303.3 million in 2003 and is likely to reach $3548.2 million by 2009.

 

"Although the prices of biometric systems have been declining over the years, they are still more expensive than alternative security solutions," says Frost and Sullivan Biometrics Program Manager Prianka Chopra .  

 

When end-users prioritize on price, they tend to adopt less expensive though less secure solutions. Ultimately, the trade-off between price and value received needs to be favorable to the customers and this is expected to be critical in determining the scale of deployment of a particular biometric technology.

 

Industry participants, however, will be compelled to continue investing substantially in research and development to remain competitive in a market characterized by frequent performance improvements, rapidly changing technologies, and the resulting price declines.

 

Market success will depend on a participant's ability to keep pace with technological developments and introduce new products with sophisticated features that cater to end-users' current as well as future requirements.

 

Additionally, biometric companies will be required to meet the emerging industry standards to prevail in this dynamic market such as the BioAPI, CBEFF, and X9.84 standards to prevent customers from being locked into proprietary solutions.

 

Apart from battling issues related to price, technology, and standards compliance, privacy concerns regarding misuse of biometric data and illegal tracking of consumer activities also need to be addressed. Failing to do so could hamper deployment of biometric solutions.

 

"It is critical to establish clear-cut principles and guidelines to safeguard the interests of the public and ensure that the same are followed to the book right from the beginning of the project," concludes Chopra .

 

The World Biometrics Market , part of the Global Biometrics Subscription , examines the demand for following biometric technologies: non-AFIS fingerprint, face recognition, iris recognition, hand geometry, voice verification, and signature verification. It also analyzes the market based on application segments (physical access control/time and attendance; government and law enforcement, PC/network security, transactional authentication, and others), vertical markets (government, financial, healthcare, travel and transportation, and others), and geographic regions (North America, Europe Middle East Africa (EMEA), Asia Pacific, and Latin America ). Executive summaries and interviews are available to the press.

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