The global biometrics industry is entering a new development phase for its solutions. It is no longer about what type of biometric scans you build the software or hardware scanners to capture; rather, biometric solutions now seek to define and position themselves in the industry based on what they can use an individual’s biometrics to help them accomplish, be it authenticating identity as true and valid or verifying against an established security database.
Biometric authentication solutions have two main roles: they must enable users to enroll or register themselves and their biometric data; and they must allow users to authenticate their identities in future uses of that service or platform with a biometric scan against the stored user data. The high security needs associated with the handling of a user’s biometric data, coupled with the need for these authentication processes to be simple for the user to enact, are a balance that vendors are trying to strike with their solutions. The vendors profiled here were selected at the analyst team’s discretion regarding the key functions of an authentication solution.
The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes numerous companies in an industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned.
Author: Danielle VanZandt
Strategic Imperative
Strategic Imperative (continued)
Growth Environment
Frost Radar™: Biometric Authentication Solutions
Frost Radar™: Competitive Environment
Frost Radar™: Competitive Environment (continued)
Frost Radar™: Competitive Environment (continued)
Aware
BioCatch
Daon
FacePhi
HID Global
IDEMIA
IDmission
ImageWare Systems
Incode
Jumio
NEC
Onfido
Sumsub
TECH5
Thales
Trust Stamp
Veridas
Veridium
ZK Teco
Strategic Insights
Significance of Being on the Frost Radar™
Frost Radar™ Empowers the CEO’s Growth Team
Frost Radar™ Empowers Investors
Frost Radar™ Empowers Customers
Frost Radar™ Empowers the Board of Directors
Frost Radar™: Benchmarking Future Growth Potential
Frost Radar™: Benchmarking Future Growth Potential
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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| Deliverable Type | Frost Radar |
|---|---|
| Author | Danielle VanZandt |
| Industries | Aerospace, Defence and Security |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Biometric System Market |
| Keyword 2 | Biometric Authentication Solutions |
| Keyword 3 | Biometrics Market Trend |
| Podcast | No |
| Predecessor | PB50-01-00-00-00 |
| WIP Number | K85E-01-00-00-00 |
Frost Radar™: Biometric Authentication Solutions, 2022
A Benchmarking System to Spark Companies to Action—Innovation that Fuels New Deal Flow and Growth Pipelines
15-Dec-2022
Global
Frost Radar
