TrendInvestment in R&D sees thriving biometric markets
With security remaining a top priority at all levels of U.S. government, the biometrics market is seeing market stability and returns on their investments in R&D
According to new analysis from Frost and Sullivan, as security remains a top priority in all levels of North American government, the biometrics market is seeing market stability and returns on their investments into research and development.
The analysis, titled the “North American Government Biometrics Markets,” estimates that revenues reported by the biometrics market will more than triple from 2007 numbers to 2014 numbers.
According to research analysts involved in the project, company investments into research and development to drive the technology to meet current or future standards as well as development centered on end-user experience are integral in the market’s growth. All this in conjunction with various government programs such as the U.S. Visa Waiver program, biometric IDs and driver’s licenses, and border control programs requiring biometric solutions are pushing the market even further.
Other areas in which the analysis reports growth is in the commercial market where biometric network access security as well as physical access control systems have seen massive growth. Further, the analysis recommends a focus on high-accuracy, cost-effective systems and utilizing acquisitions and partnerships to continue to drive the market.
Much of the analysis reports positive areas of the biometric market, but it also warned of some issues the market has against it. Among those issues are a fiercely competitive market, the need to move toward multi-factor authentication modes, and a looming shift from fingerprint authentication to face and iris recognition.
