Tractica white paper assesses 10 key market trends of biometrics industry

September 11, 2015 - 

Tractica partnered with Biometric Update to publish a new white paper that analyzes the 10 key market trends that are influencing the development of the global biometrics industry.

A full copy of the “Biometrics: 10 Trends to Watch” white paper can now be downloaded for free on Tractica’s website.

“Use cases, above all else, define biometrics. Technology enables, but does not define this market,” said 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 explores 10 key trends that will play a significant role in advancing the biometrics market, including market drivers converging on biometrics; use cases sell while technology does not; non-consumer use cases tend to dominate revenue, but only 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; and new vendors entering the market will experience difficulties.

The trends are based on the ongoing research and analysis that is part of Tractica’s Biometrics Advisory Service.

The report will also address other key issues, including which biometric modalities will be adopted for various use cases and industry applications, how biometrics end users are making their purchase decisions, the types of business models that are emerging to serve the market, the most promising industry sectors for adoption of biometrics, the types of biometrics solutions that will be in greatest demand, the competitive dynamics in the current and future market for biometrics vendors, and how will the development of the biometrics market will vary in different regions of the world.

Previously reported, Technavio published a new report titled “Global Vein Recognition Biometrics Market in BFSI Sector 2015-2019“, which covers the present scenario and the growth prospects of the global vein recognition biometrics market in the BFSI sector.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.