Your lens on the world of biometrically enabled identification solutions


Volume 4, Issue 1

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August 2009

Inside this Issue

Editor's Intro
2009 REVISED EDITION of The Future of Biometrics
SPECIAL eUpdate Pricing for The Future of Biometrics
Recommended Events

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This edition of the eUpdate is an exclusive preview of findings and forecasts from Acuity's 2009 Revision of The Future of Biometrics industry research report.

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I came across the following in an article entitled Another day in paradise as life gets cryptic, by Sathnam Sanghera in The Times Online on July 20, 2009 ….

    “The other day we got a message from our IT department at The Times informing us that password policy was changing as part of an annual Finance and Technology Sarbanes-Oxley audit, and that passwords must now be “eight characters long, contain a letter in upper case, a letter in lower case, a number, and a non-alphanumeric character (e.g. ?, £, %, $)”. Meaning that “fluffykins”, “B1 9AR” or “anotherdayinparadise” are no longer permissible and that even “BuRpy%2x” will work only for a while, as one is required nowadays to change one’s password more often than you change your underpants.”

    “I use seven passwords and passcodes to deal with my bank alone. Recent research has found that 88 per cent of employees use between five and six passwords at work. And in 2006 The Wall Street Journal reported that there was an insurance company where the agents needed to use 40 passwords during the average working day. The other day I spent a whole hour trying and failing, with the aid of those seven passwords, to make an online bank transfer that would have taken seconds in the days that customers had personal relationships with managers. And according to a UK survey conducted in 2004 by Microsoft, 60 per cent of computer users have at some point exhibited “anti-social behaviour” in the form of shouting, “pouting in silence” and hitting computers, because of forgotten passwords”

Unfortunately, these anecdotal comments are representative of life in the 21st century for far too many of us. One would think the reality of these common experiences would be enough to justify and propel rampant adoption of biometrics. Sadly, this Is not true. In the two years since the original 2007 publication of The Future of Biometrics, the industry has seen both significant accomplishments and considerable setbacks. While some major government programs have been scaled back (TWIC) or cancelled (UK National ID), others have been initiated (India’s 1.5 billion population National ID). Commercial investments in all non-essential IT has slowed to a crawl in the current economic climate, however there is renewed focus on short-term ROI-based investment (time and attendance). So, in spite of industry setbacks and a faltering global economy, the biometrics market remains healthy and is well positioned for slow but steady growth.

Acuity's 2009 biometrics industry forecast numbers average approximately 10% below original 2007 projections for the overlapping forecast period 2009 through 2015. This adjustment is mainly due to lower than expected 2009-2010 growth attributable to stalled economy. Interestingly, while Acuity has been criticized over the last two years for underestimating the revenues projections published in 2007, most analysts have recast their projections downward during this period and have now published forecasts which are in line with Acuity’s projections.

In addition to providing revised forecasts, the 2009 edition has been updated and expanded in both minor and significant ways.

  • Minor edits and additions have been made where appropriate. For example, the Rise of Cloud Computing has been added as an eighth Mega Trend and dated facts and relevant technical and programmatic updates have been added throughout the document.
  • A new analysis section has been added entitled “The State of The Market”. This section provides insight into the current evolution of market development, provides a review of some of the of large government post 9/11 ID programs, and offers analyses of two key applications—Time and Attendance, and Surveillance—and two industry verticals—Financial Services and Healthcare.
  • Two highly visible commercial biometric business that went bust are reviewed—Pay-by-Touch and Verified Identity Pass’s CLEAR registered traveler program. These programs together accounted for nearly half a billion US dollars in industry investment. Though each failed for their own reasons, each was doomed from their inception begging the question why is it that many small, viable biometric enterprises with great prospects for success are unable to acquire investment capital while these two ventures were able to attract significant investment with almost no chance of success?
  • The market forecasts have been updated and greatly expanded from the original 2007 report. They now include forecasts by technology and application for the global market, for each public sector and commercial market sector, and for each region. Part Two features 29 new data tables, 27 new graphs, and 53 new charts as well as CAGR calculations for many of the existing market forecast graphs.


I hope you enjoy the teaser and are inspired to take advantage of the special pricing available only to eUpdate subscribers.

Also, please take advantege of the free Preview Or, just take the plunge and Order The Future of Biometrics now.


Cheers,


C. Maxine Most

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C. Maxine Most    
Principal    
Acuity Market Intelligence    


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Contact Acuity


Acuity Market Intelligence | 640 W Linden St | Louisville, C0 80027| USA

    +1 303 449 1897     www.acuity-mi.com.com

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Excerpts from The Future of Biometrics 2009 Revised Edition


Industry Overview
The biometrics industry remains on track to experience significant transformation over the next ten years. Technological capabilities will revolutionize ease of use, accuracy, and performance and greatly expand the use of biometrics for personal, commercial, and government applications. Maturing business models will evolve from product to service based offerings with the bulk of revenues generated from transaction-based opportunities. Though there have been setbacks in a number of widely heralded biometrically-enabled identification programs—the failure of the US-VISIT Exit program, the scaling back of the US TWIC program from 12 million transportation workers to one million maritime only workers and its slow uptake even in this limited incarnation, the indefinite postponement/cancellation of the UK National ID card, and the commercial implosions of Pay-by-Touch and the CLEAR Registered Traveler offering—overall momentum in this arena continues to strengthen and will result in sustained growth opportunities.

Market Growth
The market for biometrics core technology is poised for sustained growth with global revenues reaching nearly $11 billion annually by 2017 representing a CAGR of 19.69% over the forecast period (Graph 1.1). These figures are reasonably consistent with original projections made in 2007 (Graph 1.2). The 2009 forecast model was updated to reflect the most recently available data and account for current market dynamics—economic and political as well as technical. Slower growth than originally anticipated in the 2009 to 2012 timeframe is balanced out by slightly stronger growth in the 2012 to 2015 timeframe. The result—projections that reach roughly the same revenue levels by 2015 but with a lower overall anticipated CAGR of 20% from 2009 through 2017 rather than the higher CAGR of 30% from 2007 through 2015

Forecasts

  • Commercial deployment revenues match Public Sector revenues in 2014 and then surpass Public Sector representing more than 55% of the total global market for biometrics core technology by 2017.

  • While the Central and South American region will experience the highest CAGR over the forecast period of 39.46%, overall market dominance will shift from Europe (and the greater EMEA region) and the US (and the greater North America region) to Asia (and the greater Asia Pacific region). By 2017, the Asia Pacific Region will generate the greatest percent of revenues for the biometrics industry with more than 32% of global revenues.

  • The dominance of AFIS/Livescan and Fingerprint continues thorough the forecast period. However, by 2017 iris and face recognition begin to rival their dominance together accounting for more than 33% of global revenues.

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    eUpdate Subscriber Pricing

    Eupdate subscribers can purchase the 2009 ediiton of The Future of Biometrics at 2007 prices. For a limited time, receive a $300 discount off the standard price.

      The Future of Biometrics Standard Pricing:                         $1595.00
      The Future of Biometrics eUpdate Discount Pricing:    $1295.00


    This discount is available only to eUpdate subscribers and only until August 17, 2009.


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    Recommended Events


    Acuity Principal C. Maxine Most, will be presenting a workshop on Identiifying Biometrics Niches at Biometrics 2009



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    Copyright 2009 Acuity Market Intelligence, LLC. All Rights Reserved.
    The editor makes no guarantees on the opinions expressed herein. This publication may be forwarded electronically in it's entirety. However, no part of this publication may be published in any form without explicit consent of the publisher.

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