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World Dynamic Signature Verification Markets
Frost & Sullivan, March 2008
This Frost & Sullivan research service titled World Dynamic Signature Verification Markets provides a comprehensive assessment by outlining revenues and shipments in different market segments, key market drivers and restraints, market trends, and competitive structure. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following markets: global dynamic signature verification, electronic signature verification, and static signature verification.
Market Overview
Substantial Cost Savings and Fraud Prevention is Spurring Adoption of Dynamic Signature Verification Market
The benefits of dynamic signature verification (DSV) technology to secure transactions, check fraud and reduce administration costs has heightened demand for DSV technology in the financial, healthcare and government sectors. The prevalent revenue generating applications include transactional authentication and wireless device security applications. Dynamic signatures, being unique and universally accepted are an effective and simple authentication solution.
Lack of standardization, insufficient awareness, and inadequate technological advances to verify inconsistencies in an individual’s signatures over a period of time are limiting factors for the adoption of DSV technology. 'With increasing competition, it is important to focus on customers’ needs and requirements,' cites the analyst of this research service. 'Designing innovative solutions that address customer requirements can provide vendors with a competitive advantage.'
Increasing Awareness of the Benefits of Dynamic Signature Verification Technologies in the Government Sector and Corporate Enterprises is Driving Uptake
Government and corporate enterprises are beginning to realize the benefits of DSV technology. The technology is being implemented in the government sector for document management and workflow automation applications to enhance security and time efficiency.
Cost savings associated with the transition of paper-based documents to digital documents is another major driver for DSV technology. 'With investment budgets under intense pressure, the focus is on productivity improvement to gain rapid return of investment (ROI),' says the analyst. Increased awareness of ROI and cost savings associated by implementing DSV technology is anticipated to generate higher revenues in the medium to long-term. An individual’s signature tends to change over time that could lead to a false reject rate (FRR). Investing in R&D to improve performance levels of DSV technologies is vital for increased adoption levels.
Technologies
The following technologies are covered in this research:
- DSV
- Tablet PC
- Transactional authentication
- Wireless device security
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Biometrics
- Global dynamic signature verification
- Electronic signature verification
- Static signature verification
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