Press release
IDEMIA Company Analysis : High Growth Opportunities, Latest Industry Developments, Company Comparison & Unknowns
IDEMIA is one of the leaders in augmented identity that provides an environment, which enables consumers to perform their daily critical activities, such as pay, connect, and travel, in the physical as well as digital space. The company operates in industries such as Information & Communications Technology and Semiconductor & Electronics. The company has been focussing on a number of fast-growing markets in these industry segments for its medium to long-term growth.IDEMIA operates in markets such as 5G Industrial IoT Market (growing at 79.1% CAGR), Digital identity Solutions Market (16.2%CAGR), Identity Verification Market (15.6% CAGR), and Biometric-as-a-Service Market (19.7% CAGR).
Apart from these, IDEMIA also operates in markets such as Public Safety and Security Market (market size $365 Bn in 2020, growing 7.2% CAGR), Smart Badge Market (market size $22 Bn in 2020, growing at 9.9% CAGR), and Digital Signature Market (market size $2.79 Bn in 2020, growing at 31% CAGR).
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IDEMIA High-Growth Opportunities across Industry Segments
Top Hot bets for IDEMIA in Security & Surveillance Industry –
• Access Control Market - valued at $8.63 Bn in 2020 globally, growing at 8.2% CAGR
• Smart Card Market - valued at $13.36 Bn in 2020 globally, growing at 4% CAGR
• Palm Vein Scanner Market – valued at $0.42 Bn in 2020 globally, growing at 22.6% CAGR
• Access Control Reader Market - valued at $3.38 Bn in 2020 globally, growing at 12.5% CAGR
Top Hot bets for IDEMIA in Information Security Industry –
• Identity Verification Market – valued at $7.65 Bn market globally, growing at 15.6% CAGR
• Digital Identity Solutions Market - valued at $20.11 Bn market globally, growing at 16.2% CAGR
• Digital Signature Market – valued at $2.79 Bn in 2020 globally, growing at 31% CAGR
• Biometric-as-a-Service Market - valued at $1.51 Bn in 2020 globally, growing at 19.5% CAGR
Top Hot bets for IDEMIA in Digitalization & IoT Industry –
• 5G Industrial IoT Market – valued at $0.48 Bn market globally, growing at 79.1% CAGR
• Contactless Payment Market - valued at $10.35 Bn market globally, growing at 11.7% CAGR
• Smart Ticketing Market – valued at $7.19 Bn in 2020 globally, growing at 14.5% CAGR
• Road Safety Market - valued at $3.14 Bn in 2020 globally, growing at 9.3% CAGR
Potential Growth Opportunities for IDEMIA
The most promising adjacent market opportunities for IDEMIA to potentially exploit for long-term revenue growth are –
• 5G IoT Market with a global market opportunity of $23.24 Bn by 2025, growing at a CAGR of 73%
• 5G Security Market with a global market opportunity of $3.62 Bn by 2025, growing at a CAGR of 44.3%
• Affective Computing Market with a global market opportunity of $140 Bn by 2025, growing at a CAGR of 37.4%
• Mobility as a Service Market with a global market opportunity of $18.18 Bn by 2025, growing at a CAGR of 31.1%
• Mobile Money Market with a global market opportunity of $15.44 Bn by 2025, growing at a CAGR of 28.7%
• Homeland Security and Emergency Management Market with a global market opportunity of $851.79 Bn by 2025, growing at a CAGR of 6.2%
• Smart Cities Market with a global market opportunity of $767.75 Bn by 2025, growing at a CAGR of 13.8%
• Cybersecurity Market with a global market opportunity of $314.86 Bn by 2025, growing at a CAGR of 9.7%
• Digital Payments Market with a global market opportunity of $154.1 Bn by 2025, growing at a CAGR of 14.2%
Strategies implemented by IDEMIA for growth in Public Safety and Security Market
IDEMIA is a multinational company specializing in security and identity solutions, including facial recognition and biometric identification services.
IDEMIA is a software company that offers digital signature solutions under its financial institutions offerings. The company caters to various industry verticals, such as government, public safety, border management, law enforcement, retail, banking, aviation, and employee/applicant vetting. With more than 40 years of experience in biometrics, Idemia’s unique expertise lies in developing innovative technologies for a wide range of markets and applications for people, governments, and businesses. The company offers the IDEMIA’s Digital Signature platform. Additionally, the company, along with its subsidiaries, provides identity solutions, including secure ID issuance solutions, enrolment solutions, and identity management solutions.
Strategies implemented by IDEMIA for growth in Digital Signature Market
IDEMIA is a prominent player in the facial recognition market. The company focuses on launching new products to maintain its competitive edge in the market. It has been investing in several R&D activities to innovate its solutions portfolio and invests part of its revenue toward the same. In March 2019, IDEMIA’s facial recognition software outperformed other US government agency providers, which were evaluated to be 127 software algorithms from 39 developers, at the National Institute of Standards and Technology (NIST) test. Recently, in August 2020, IDEMIA launched Token Platform which provides a solution for payment networks for implementing card digitization solutions across a variety of payment options from mobile wallets to remote payments. These strategies have helped the company further innovate its product offerings, acquire new customers, and expand its global presence. The company further focuses on inorganic growth strategies to increase overall offerings and footprints into newer sections. In August 2019, IDEMIA partnered with Vinaphone for its Mobile Public Key Infrastructure (PKI) service in Vietnam. The company has partnered with other companies to increase regional penetration.
Key Strengths & Weaknesses
Strengths –
• Competent product portfolio and solutions
• Highly innovative deployment techniques due to which the technology becomes easy to deliver
Weakness –
• Less global presence may affect revenue of the company
Strategies implemented by IDEMIA for growth in Digital Signature Market
The company develops and manufactures smart cards (plastic and metal) and related products for governments, national agencies dedicated toward law enforcement and border control, transportation, and private companies in need of better security-related products. The company provided more than 800 million payment cards in 2018, serving ~1,800 financial institutions. As of March 2017, IDEMIA registered a cumulative revenue of USD 3.12 billion and had a workforce of 14,000, including 2,000 in R&D. IDEMIA’s smart card offerings include memory cards and microprocessor cards. The company’s clients include banks and financial institutions, manufacturers of connected objects and equipment, mobile operators, and authorities in 180 countries worldwide. The company has 1,400 patents; it spent ~USD 200 million on R&D in 2017.
IDEMIA is among the top companies offering quantum-safe asymmetric cryptosystems, capitalizing on secure elements/smart cards, which provide portability and confidentiality of secret elements (keys and PIN/biometric credentials). The company provides its smart card solutions to a wide range of international clients in various industries, including financial services, telecom, identity, security, and IoT. It develops innovative technologies for a wide range of markets and applications. The company is widely recognized for its technical excellence in serving customers’ critical application needs. To gain a competitive edge, the company could focus on smart badges with display for access control applications. It could also focus on emerging economies such as India to expand its business.
Key Strengths & Weaknesses
Strengths –
• Strong product portfolio coupled with global reach pertaining to smart badge market
• Strong financial support from the parent company supporting developments in smart badge market
Weakness –
• Dependence on third parties for raw materials and supply of goods
• Highly dependent on North America for revenue generation
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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