Industry Convergence to Create More Defined Roles and Applications
This research service looks at the biometric solutions market, identifying trends, best practices, and customer decision-making factors within six market verticals: law enforcement, retail, commercial, airports, government, and banking and financial services. This service includes a full market analysis, including market size and forecast for the market from 2021 to 2030, segmented by customer vertical and by region. In addition, this research service identifies key growth opportunities, covers technology solutions and capabilities that will enable further market growth and spending on biometric solutions, and analyzes specific vertical market factors and influences that could affect how different customer verticals seek to plan for, integrate, and update their biometric systems. This study analyzes how the global COVID-19 pandemic will also affect short-term spending in the market and how this period could lead to suppressed short-term demand, followed by a spike in growth as the pandemic’s broader effects recede.
The various growth opportunities discussed within this research service include how biometric solutions are seeking to offer more enhanced user experience through multiple modality options, more frictionless authentication and onboarding, and helping users maintain more control over their biometric data. Growth opportunities are related to accessibility for new biometric systems within developing regions and new customer verticals, more defined roles for authentication and verification procedures, and how new digital identity, self-sovereign identity, and decentralization can ensure that biometric data remains secure throughout all phases of a transaction.
