North American Biometrics Market Expected to Triple Revenue Growth Through 2008, findBIOMETRICS.com discusses Frost and Sullivan Report
The North American Biometrics Market generated $527 million in 2004 and is projected to generate $1.4 billion in 2008 creating many entry and exit opportunities.
Toronto, Ontario (PRWEB) January 11, 2006 -- findBIOMETRICS.com President Peter O’Neill spoke with Rob Allen, Financial Services Research Analyst, Frost & Sullivan about their latest report signifying that the North American Biometric market would grow to three times its present size by 2008.
“Frost and Sullivan is one of the most respected research companies in the Biometrics market and they have produced a new report that carefully examines the North American growth potential through 2008. Our readers pay very close attention to this kind of research so we were very pleased to provide an in-depth examination of this, their latest report.” said Mr. O’Neill.
Mr. Allen is the lead research analyst for the Financial Services Group covering Automated ID, Security and Biometrics. Mr. Allen’s group primarily serves the financial services clients, mainly the venture capital markets and the private equity companies.
The report was conducted between August 2005 and December 2005 and approximately 25 companies were involved. Some of the key findings of the report were:
-The North American market generated $527 million in 2004 and is projected to generate $1.4 billion in 2008 creating many entry and exit opportunities.
-Simultaneous multi-modal biometric verification significantly improves measure-of-performance statistics yet 95 percent of market participants offer only one biometric application.
-Over 140 identified market participants globally, 60 of which operate from North America, many more still in early start-up phase.
-Market participants feel that a large amount of consolidation is necessary within and across segments as particular applications and business models succeed.
When asked about the most significant event to impact the Biometric market in 2005 Mr. Allen stated that, “First, from my point of view, is the emergence of L-1 Partners. Robert LaPenta has branched off to start L-1 Investment Partners, coming forward with this “biometrics only” investment company. That is huge! It really signifies that biometrics is here and is here to stay so I am definitely glad to see that.”
To read the entire interview, visit www.findbiometrics.com.
About Frost and Sullivan
Frost & Sullivan is a global growth consulting company that partners with clients to support the development of innovative growth strategies. For more than 40 years, the company has leveraged its comprehensive market expertise to offer industry research and market strategies, provide growth consulting and corporate training, and support clients to help grow their businesses.
About findBIOMETRICS.com
findBIOMETRICS.com is the world’s leading Biometric resource site. Established in 2000, findBIOMETRICS reports on all aspects of the Biometric industry with CEO interviews, Feature Reports, Special Features, useful links to Biometric associations, current lists of related industry events and conferences and the most comprehensive press release information available on the Biometrics industry.
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