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Palo Alto, CA, United States, 2008/04/21 - High demand from government and healthcare verticals for efficient and affordable applications to secure transactions, prevent check fraud and speed up workflow substantially boosts the dynamic signature verification (DSV) market.
Cost savings associated with the transition of paper-based documents to digital documents also drives this market.
New analysis from Frost & Sullivan (automaticidentification&security.frost.com), World Dynamic Signature Verification Market, finds the market earned revenues of $14.4 million in 2006 and estimates this to reach $85.7 million in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the World Dynamic Signature Verification Market, then send an email to David Escalante, Corporate Communications, at descalante_pr[.]frost.com, with your full name, company name, title, telephone number, email, address, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
Earlier government apathy in the market now gives way to a keen interest, following several successful DSV deployments in the government vertical. These helped prove the technology's plausibility, driving higher adoption of DSV technology.
"The prevalent revenue-generating applications include transactional authentication and wireless device security applications," notes Frost & Sullivan Research Analyst Neelima Sagar. "High social acceptance and convenience of DSV technologies will ensure that the market continues to witness substantial sales."
However, for the technology to gain more prominence, DSV vendors must address issues regarding standardization, insufficient consumer awareness, and the need for technology capable of verifying inconsistencies in an individual's signature.
"With the increasing competition, it is important to focus on customer needs and requirements," explains Sagar. "Product innovation strategy is vital and designing solutions with regard to end-user requirements will provide vendors with a competitive advantage."
Increased awareness of ROI and cost savings associated with implementing DSV technology looks to generate higher revenues in the medium-to long-term. Investing in R&D for technological advancements remains essential for increased adoption level. Key areas of development should include ease of use, convenience, performance levels and robustness.
World Dynamic Signature Verification Market is part of the Automatic Identification and Security Growth Partnership Service program, which also includes research in the following markets: World biometrics, World silicon chip fingerprints, World hand geometry, and North American criminal AFIS and World financial biometrics. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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