North American Biometrics Markets - Investment Analysis and Growth Opportunities

Published by: Frost & Sullivan

Published: Dec. 14, 2005

Table of Contents

1. Executive Summary

        1. Executive Summary

                1. Executive Summary

2. Introduction and Methodology

        1. Introduction

                1. Introduction

                2. Methodology

3. Industry Fundamentals and Growth Opportunities

        1. Market Overivew & Industry Findamentals

                1. Introduction

                2. Market Overview

                3. Industry Economics

        2. Segment Analysis

                1. Introduction

                2. Non-AFIS

                3. AFIS

                4. Facial Recognition

                5. Eye Scan

                6. Hand Geometry

                7. Voice Verification

                8. Signature Verification

        3. Investment Analysis and Growth Opportunities

                1. Investment Themes

                2. Value Chain Analysis

                3. Value Chain Industry Verticals

                4. Sector Scorecard

                5. Company Scorecard

                6. Frost & Sullivan Growth Monitor

4. Financial Benchmarking Analysis

        1. Frost & Sullivan Biometrics Universe

                1. Industry Classification

        2. Industry Profitability

                1. Year-over-Year Sales Growth

                2. Sales General and Administrative to Sales

                3. Research and Development to Sales

                4. Operating Margin

                5. Revenue per Employee

                6. Payable and Receivable Days

                7. Current Ratio

                8. Debt to Equity Ratios

        3. Valuation

                1. Historical Valuation Based on Sales and Profitability

                2. Year-to-Date Stock Performance

                3. Frost & Sullivan Biometric Stock Index

                4. Historical and Current Mergers and Acquisition Valuation

                5. Industry Growth Outlook

                6. Private Equity/Venture Capital Activity

List Of Figures

Chapter 3

• Biometrics Industry: Sector Scorecard (North America), 2005


• Biometrics Industry: Company Scorecard (North America), 2005


• Biometrics Industry: Growth Monitor (North America), 2005

Chapter 4

• Biometrics Industry: Frost & Sullivan Biometrics Universe (North America), 2005


• Biometrics Industry: Year-over-Year Sales Growth (North America), 2001-2004


• Biometrics Industry: Selling General and Administrative (SGA) Expenses to Sales (North America), 2001-2004


• Biometrics Industry: R&D to Sales (North America), 2001-2004


• Biometrics Industry: Operating Margin (North America), 2001-2004


• Biometrics Industry: Payable Days (North America), 2001-2004


• Biometrics Industry: Receivable Days (North America), 2001-2004


• Biometrics Industry: Current Ratio (North America), 2001-2004


• Biometrics Industry: Total Debt to Equity Ratio (North America), 2001-2004


• Biometrics Industry: Long-Term Debt to Equity Ratio (North America), 2001-2004


• Biometrics Industry: Mergers and Acquisitions (North America), 1998-2005


• Biometrics Industry: Earnings per Share (EPS) Guidance (North America), 2006

Abstract

High Revenue Growth in the Biometrics Market

Revenues in the North American biometric market are expected to almost triple between 2005 and 2008. Biometrics are now being accepted as a viable solution for multiple applications, including identity theft and fraud reduction, criminal deterrence, and local, regional, national, and international identity verification. Additionally, revenue growth in new biometric technologies are expected to drive the North American market, as revenue from traditional applications moderates.

The signature and voice verification segments have the highest projected North American growth rates through 2008, followed closely by the facial recognition and eye scan technologies sectors. Traditional biometric applications, such as non-AFIS and AFIS fingerprint technologies, will continue to grow at more sustainable rates than in the past.

End-user Fears Eased by Industry Consortiums

Industry experts agree that multiple simultaneous biometric verifications reduce false acceptance and false rejection rates, but most biometric companies offer only one type of solution. In fact, of the 60 companies covered in this study, less than 15% offered multiple types of biometric technologies in their product suites.

End-users who purchase biometric applications seek assurance that their investments will have the latest technology and be compatible with future technology updates and add-ons. Therefore, industry groups, including the Biometric Consortium and the Biometric Application Programming Interface (BioAPI) Consortium, are working to ease end-user fears by coordinating interoperability standards within and across biometric segments.

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