北米におけるバイオメトリクス市場：投資分析と成長機会

Research Overview

Frost & Sullivans Auto ID & Security Financial Benchmarking and Analysis (FBA) service presents a broad financial outline of the auto ID industry, highlighting major market and financial trends in key growth segments. It provides a comprehensive financial analysis of the leading auto ID firms to support the investment and financial analysis needs of decision makers in the arena. The current study within the service focuses on the North American biometrics industry, and includes the following key growth segments: automated fingerprint identification system (AFIS), non-AFIS, facial recognition, eye scan, hand geometry, voice verification, and signature verification.

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.

Frost & Sullivan Growth Partnership Service

Based on extensive and in-depth research, real-world consulting work, and new theories tested in hundreds of companies across many industries, Frost & Sullivan has evolved its Growth Partnership Services (GPS) program that provides established and emerging firms with powerful growth visions. Moving beyond token mission statements, GPS provides an actionable vision to growth consulting partners by illustrating how key intelligence and strategic research based on defined goals can guide day-to-day behavior and overall company direction. The foundation of Frost & Sullivans GPS includes:

• Assisting companies to reach their full potential in the core business
• Providing growth strategies to help companies expand into related businesses
• Preemptively redefining the core business during market turbulence
• Applying the Frost & Sullivan framework to identify and address common mistakes resulting from misaligned corporate strategies
• Recommending growth management strategies through continuous partnership

To maximize the potential for growth within a firms internal and external environment, Frost & Sullivan consultants can facilitate the creation of strategic programs that deliver improved market success. Frost & Sullivans strengths lie in combining strategic understanding with market expertise and applying these with absolute commitment to its clients growth.

Benefits of this Service

Offers Comprehensive Market Coverage

This study provides an in-depth coverage of the market trends in North America. It traces the currently buoyant markets in North America and provides long term outlook for the biometrics industry.

Provides Financial Benchmarking Analysis

FBA takes into account the major performance indicators such as ratios, valuation multiples and growth monitors, and also provides an in-depth analysis across the breadth and depth of the industry.

Tracks Mergers and Acquisitions

The research tracks the changing complexion of the biometrics industry on a whole with due consideration to the notable M&A activities in the last one year.

Identifies Current Market Participants

This insight covers market sizes and growth prospects for selected growth segments and can help exploit newer growth opportunities (voice & signature verification) and look out for possible alliances within the industry.

Provides Vital Information to the Investment Community

The goal of the FBA service is to provide financial analysts and investment professionals with the tools and information needed to support financial analysis and investment decisions of all sorts. For example industry scorecards and company scorecards map the industries and companies by growth prospective, size, sector consolidation and attractiveness for private equities and venture capitalists.

Gives Industry Growth Outlook

The research service discusses market estimates until 2008.

Market Sectors

Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:

By Biometry Type:

• Non-AFIS
• AFIS
• Facial Recognition
• Eye Scan
• Hand Geometry
• Voice Verification
• Signature Verification

Whats Included

• Market sizing and competitive analysis of growth segments
• Financial benchmarking analysis of biometrics industry including ratio analysis
• Performance of Frost & Sullivan Biometrics Index and valuation multiples for biometric companies
• Growth monitor that ranks companies based on prospective revenue growth

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