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Standardization and Rising Venture Capitalist Interests Spearhead Growth European Biometric Market - Frost & Sullivan finds that European Biometrics Markets earned revenues of $370.1 million in 2005 and estimates this figure to grow to $948.8 million in 2008
Standardization and Rising Venture Capitalist Interests Spearhead Growth European Biometric Market

 

NewswireToday - /newswire/ - San Antonio, TX, United States, 2006/04/05 - Frost & Sullivan finds that European Biometrics Markets earned revenues of $370.1 million in 2005 and estimates this figure to grow to $948.8 million in 2008.

   
 
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Growing product standardization and increased venture capitalist interest are the prime drivers of the European biometrics markets. In this burgeoning field, both government and private customers are in support of standards that will ensure product quality, allow for interoperability as well as limit costs, thus making this a very attractive field for venture capitalists.

Frost & Sullivan finds that European Biometrics Markets earned revenues of $370.1 million in 2005 and estimates this figure to grow to $948.8 million in 2008.

If you are interested in a virtual brochure, which provides financial executives, investment professionals, marketing directors, business development executives and other industry participants an overview of the latest analysis of the European Biometrics Market – Investment Analysis and Growth Opportunities then send an e-mail to Tori Foster, Corporate Communications, at tori.foster[.]frost.com with your full name, company name, title, telephone number, e-mail address, city, state and country. We will send you the information by email upon receipt of the above information.

The biometrics markets depend primarily on venture capital spending with an estimated 80 percent of it being funded by venture capitalists. However, venture capitalists base their financial commitment on the success of a project. Investing on an interest-return basis, they ensure ownership of intellectual property (IP) rights and retain the IP rights in case of pre-closure.

“With increasing scope for venture capital investments, there is an issue of IP rights that is being raised,” says Frost & Sullivan Business & Financial Services Analyst Janani Sankaran. “How prepared is the European biometrics market to combat this challenge?”

In a bid to reduce this risk, companies will depend on government or a research development agency funding in future. Such a move is likely to reduce the involvement of venture capitalists by 25-30 percent in the next five years.

Emerging technologies such as non-automated fingerprint identification system (Non-AFIS), facial recognition and voice verification are likely to drive the market further. Security-conscious governments imposing stringent regulations such as European biometric passports, the national ID program and the new Schengen information system-II are expected to bring in more revenue to the European market.

A key challenge for industry participants is the rapidly changing technologies in this dynamic industry that necessitate higher investments in research and development. To ensure survival, companies must constantly create new products or upgrade old ones.

“The survival of smaller companies depends largely on their ability to devote a greater share of their revenues to research and development,” explains Sankaran. “However, companies unwilling to spend large sums on technology investments are instead purchasing from unreliable market participants, therefore risking even more costly technology outlays in the necessary future.”

NIST and the Biometric Consortium have established the Biometric Interoperability, Performance, and Assurance Working Group to broaden the utilization and acceptance of biometric technologies and to facilitate and encourage, under the Biometric Consortium, further exchange of information and collaborative efforts between users and private industry in all things biometric. The BioAPI Consortium is working to ease end-user fears when purchasing biometric applications by coordinating interoperability standards within and across biometric segments. A large number of biometric companies are currently part of these or similar groups.

European Biometrics Market – Investment Analysis and Growth Opportunities is part of the Financial Benchmarking and Analysis in the Automatic ID and Security Subscription, which also includes up-coming research in the following markets: RFID software market, Electronic access control market, video surveillance market, etc. All research included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. Executive summaries and analyst interviews are also available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

 
 
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Standardization and Rising Venture Capitalist Interests Spearhead Growth European Biometric Market

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Frost & Sullivan |
Publisher Contact: Tori Foster 
210.477.8448 tori.foster[.]frost.com
 
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