Face recognition vendors must upend the marketplace.
C. Maxine Most
Market Visionary | Strategic Prognosticator | Disruptive Innovator | Biometric Evangelist | Digital Identity Thought Leader | Technology Translator
Rapidly expanding opportunities for face recognition continue to attract new market entrants as existing technology and solution players clamor to establish a market foothold. Dozens of vendors now operate in the digital on-boarding and remote authentication categories which are driving the highest-growth, most desirable, and most crowded biometric market sectors.
The majority of companies operating in the face recognition space are “me too“ players trying to position their technology as a UVP (Unique Value Proposition). This is not an effective strategy as, even when it can be proven (which it often cannot), technology performance and capabilities do not constitute sustainable differentiation.
There is, however, an alternative scenario where market disruption occurs and transforms existing market dynamics. This type of disruption would allow one or more face recognition players to distinguish themselves by creating sustainable differentiation via their offerings. Or, in Strategic Marketing lingo, by “building a sustainable moat.”
You can’t dig a moat with technology alone!
One of the most successful approaches to market disruption or “moat building” is via innovating a market-breaking business model that reconfigures the market dynamics. While the window of opportunity to make this kind of bold move, potentially upending the market, is short-lived,
Acuity believes there are a number of face recognition players well positioned to do so. And current market dynamics are creating a clear opportunity over the next 12 to 18 months for these players to engage in moat building strategies that have the potential to upend the face recognition marketplace and establish one or more players as clear market leaders.
Read Acuity's latest whitepaper Strategic Market Assessment: FACE RECOGNITION for the rest of the analysis. Use code WP2020 at checkout to download for free.
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C. Maxine Most is the Principal and Founder of Acuity Market Intelligence, an emerging technology strategy and research consultancy with a proven record of accurately anticipating biometric and digital identity market trends. Follow Maxine on twitter @cmaxmost.
Contact: Acuity Market Intelligence +1 303 449 1897, [email protected]
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5 年An Interesting analysis . It’s true not all vendors will survive the - same set of offerings race . The evolution could pan beyond the “moat” . Evolving the tech delivery to take two paths - 1.services based entities that package the facial recognition as the baseline to deliver and address the entire myriad stack of real world needs. ( not standard system integrators but the new delivery specialists) 2.Then a R & D , set of existing vendors facial algorithms and technology - who engage and evolve with the set in 1. The right alignment of these two kinds can set about a powerful market positioning for the vendors. 18 to 24 months seems to be the right perspective . Is it possible that one entity can have both the strategies and - create the “moat” - yes . It will take clarity in play though . #digitalidentity #authentication #identitygovernance ##biometrics #fintech #bordercontrol