Iris-scan is projected to reach $210m in annual revenue in 2007.
By 2004, the total revenue in the emerging sectors (PC/Network Access, E commerce, telephony, Physical Access and surveillance) is expected to surpass mature sector revenue (Criminal ID and citizen ID) .
Civil ID and PC/Network Access applications are expected to account for nearly $2b in combined annual revenues in 2007. Physical Access Time and Attendance will reach $245m in annual revenues by 2004, with Surveillance and Screening applications projected to reach $49m in annual revenue in 2004.
Government Sector will be the leading biometric vertical market through 2007 with $1.2b in annual revenues. Financial Sector and Travel and Transportation follow with $672m and $556m, respectively, in 2007. The various scenarios in which government agencies must identify and authenticate both citizens and employees, particularly subsequent to 9/11, is a critical growth factor. .
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3. Biometric industry life cycle.
Using the technology life cycle advocated by Arthur D Little, Biometrics has emerge beyond embryonic into the growth stage. It has demonstrated itself to be a key technology that has a strong impact on the value added stream of performance, costs and quality and allow companies to develop propriety positioning products and processes. They influence the growth phase of the technology S curve and have a major impact on a company's competitive position.
Companies must be prepared to increase their strength systematically in key technologies.
4. Future market potential.
The Biometric Market Report 2003-2007 reveals that the revenues attributable to PC/Network Access are expected to grow at a rapid pace over the next 24 months, driven by the increased awareness of employee authentication problems at the enterprise level. In the 24-48 month range, biometrics becomes more of a common consumer facing solution and new biometric models based on transactional authentication will begin to emerge.