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$315 Billion Revenue Opportunity in Biometric Digital Identity Projected by The Prism Project 2024 Flagship Report

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Report Evaluates 250+ Industry Players and Highlights Key Dynamics Driving Growth of the Global Digital Identity Ecosystem

DENVER, Jan. 7, 2025 /PRNewswire-PRWeb/ — The Prism Project’s highly anticipated Biometric Digital Identity Flagship Report evaluates more than 250 industry players and identifies the key market dynamics driving extraordinary growth in the emerging global digital identity ecosystem. Published by Acuity Market Intelligence, the leading biometric digital identity research consultancy, the report highlights the critical role of biometrics in reducing fraud, improving operational efficiency, preserving privacy, and enhancing user experience in the era of digital transformation.

“With biometric-centric digital identity, enhancing customer experience becomes an opportunity to reduce fraud, improve operational efficiency, protect privacy, all while satisfying compliance requirements and increasing revenue”

Forecasting over $315 billion in global revenue and 5.6 trillion biometric transactions between 2024 and 2028, the report reveals the massive potential of biometric digital identity solutions. The Prism Project’s intense market focus based on the foundational conviction that the only true, reliable link between humans and their digital data is biometrics, and supported by proprietary survey data, market forecasts, and analysis models, exposes the digital transformation challenges common to all markets that can be addressed with orchestrated biometric technologies.

Transformative Impact of Biometrics

“The scale of biometric digital identity adoption reflects its pivotal role in shaping the evolution of digital transformation across the world,” said Maxine Most, founder of The Prism Project and Acuity Market Intelligence and report author. “From fraud prevention to improved user experiences, the potential for biometrics to revolutionize the emerging global digital ecosystem is unprecedented.”

Designed to illuminate the rapidly evolving landscape of biometric digital identity, this report is a valuable resource for industry stakeholders and technology innovators. It empowers influencers and decision-makers to understand, evaluate, and implement biometric digital identity technology and solutions. The report delivers actionable insights into how biometrics can be leveraged to address critical challenges from fraud prevention and automation to enhancing guest experiences and meeting regulatory requirements.

Addressing Challenges and Opportunities

The report identifies critical challenges in the digital identity marketplace, such as deepfakes and synthetic identity fraud, data privacy concerns, and siloed identity infrastructures. It offers real-world case studies demonstrating how biometric technologies such as liveness and deepfake detection integrated into decentralized identity platforms with privacy-first design principals and fraud prevention tools are solving these problems today.

“With biometric-centric digital identity, enhancing customer experience becomes an opportunity to reduce fraud, improve operational efficiency, protect privacy, all while satisfying compliance requirements and increasing revenue,” Most said. “The Flagship Prism Report is not just a roadmap for biometric digital identity’s future; it’s a call to action for businesses and consumers, governments and citizens, to prioritize secure and inclusive identity solutions as a means to usher in a privacy-first future of user-empowered identity that is more intuitive, convenient, and profitable.”

What’s Inside the Flagship Prism Report

Comprehensive Insights: Holistic analysis of the global digital identity industry framed around common challenges and biometric solutions.Market Forecasts: Original research predicting 47.5% CAGR with a total of $315 billion in revenue and 5.6 trillion transactions over the forecast period from 2024 – 2028.Vendor Evaluations: Proprietary assessment methodology applied to more than 250 vendors and organizations operating in and supporting the global digital identity ecosystemPrism Market Landscape Model: Flagship version of the proprietary Biometric Digital Identity Prism market framework that positions market players as Luminaires, Catalysts, or Pulsars based on their individual evaluations.Real-World Use Cases: Deployed solutions showcasing how biometric digital identity is reducing fraud, lowering costs, delivering enhanced guest experiences, improving efficiency, and increasing virtual and physical security all while protecting citizen and consumer privacy and personal data.

Key Findings

User Experience: Biometric integration enhances customer satisfaction and operational efficiency, especially in travel and e-commerce sectors.Regulatory Compliance: Biometric solutions streamline adherence to stringent data privacy, anti-money laundering (AML), and Know Your Customer (KYC) requirements.Fraud Mitigation: Biometrics offer robust defenses against synthetic identity fraud and AI-powered scams that cost the global economy billions annually.

Survey Insights

The report draws from surveys of vendors and relying parties across key sectors, revealing the following trends:

Primary Motivators: Regulatory compliance, fraud protection, and enhanced customer experience are top drivers for adoption among relying parties.Alignment Gaps: Though vendors also see fraud as a major motivation for adoption, a disparity exists between vendor perception of automation driven demand, and their customers, the relying parties, who are focused on compliance and customer experience key adoption factors.Deployment Trends: Authentication, onboarding, and access control are the most widely adopted applications, while employee time and attendance has seen minimal interest, marking a shift in biometric use cases.

Market Projections

The report highlights significant growth of biometric digital identity globally and across key regions and vertical markets:

Total Market Growth: $315 billion in revenue and 5.6 trillion transactions globally with North America leading in revenue share (35%) and APAC dominating transaction volumes (48%).Financial Services: 1.2 trillion transactions generating $40 billion in revenue. As with the global market, North America leads in revenue share (35%) and APAC dominates transaction volumes (48%) .Travel and Hospitality: 262 billion transactions driving $72 billion in revenue, with air travel accounting for 50% of the market, followed by 33% for hotels and resorts.Government Services: 6.4 trillion transactions generating $202.5 billion in revenue, driven by initiatives across Europe, North America, and APAC.

The Finale of the 2024 Prism Reports Series

The Flagship Prism Report is the last of four Biometric Digital Identity Prism reports released by The Prism Project in 2024, alongside the Financial Services Prism Report, the Travel and Hospitality Prism Report, and the Government Services Prism Report.

Each report builds on the Biometric Digital Identity Prism, a proprietary market landscape framework that helps influencers and decision-makers understand, evaluate, and implement digital identity technologies and solutions. The Prism is the only truly biometric-centric market model for understanding and evaluating the global digital identity ecosystem. It is based on the foundational conviction that in the age of digital transformation, the only true, reliable link between humans and their digital data is biometrics.

Together, these reports provide in-depth analyses of biometric digital identity’s transformative potential across critical industries, addressing unique challenges and opportunities in each domain.

All reports are available for download after a brief registration at www.the-prism-project.com/reports.

The Role of Collaboration in a Transformative Era

The success of the 2024 Flagship Prism Report is rooted in the collective commitment and forward-thinking contributions of its 28 sponsors and partners – a who’s who of the global digital identity intelligentsia. They are:

Anonybit, AuthenticID, AuthID, Aware, Biometria Aplicada, Daon, ID Dataweb, Ideem, IDEMIA, Identity Week, Identy, ID Tech, iiDENTIFii, Incode, Innovatrics, Indicio, Inverid, iProov, Kantara Initiative, Keyless, Panini, Peak IDV, SITA, Sodec Technologies, Tech5, Veratad, Veriff, and Wicket.

These leaders in the biometric and digital identity share The Prism Project’s vision for a secure, inclusive digital identity ecosystem. Their contributions highlight the innovation and collaboration needed to build scalable, privacy-centric solutions that empower global digital transformation.

A Platform of Independence and Integrity

While sponsorship provides organizations with increased visibility and opportunities for profiles and case studies, The Prism Project maintains strict independence and unbiased assessments. Sponsorship does not influence vendor evaluations or rankings, ensuring readers receive transparent, objective insights.

About The Prism Project – The Prism Project (www.the-prism-project.com) is at the forefront of biometric and digital identity research and education. Created by Acuity Market Intelligence, it bridges the gap between identity technology experts and organizations seeking innovative solutions for digital transformation. Through industry collaboration and comprehensive research, The Prism Project empowers influencers and decision-makers to forge a secure, human-centric digital identity future.

About Acuity Market Intelligence – Acuity Market Intelligence (www.acuitymi.com) is a trusted research and strategic advisory firm specializing in biometrics, identity, and digital transformation. Known for delivering actionable insights and proprietary market forecasts, Acuity helps organizations navigate the rapidly evolving digital identity landscape with confidence and clarity.

For further information, interviews, sponsor inquiries, or to download Prism reports, please visit www.the-prism-project.com or contact info@the-prism-project.com.

Media Contact

Maxine Most, The Prism Project, 1 3034491897, info@the-prism-project.com, www.the-prism-project.com

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SOURCE The Prism Project

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Vivalink Recognized with 2024 Global Healthcare IT Solutions Award by Frost & Sullivan

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January 9, 2025

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Vivalink honored for enabling technology leadership with its innovative remote patient monitoring solutions

CAMPBELL, Calif., Jan. 9, 2025 /PRNewswire/ — Vivalink, a leading provider of digital healthcare solutions, receives Frost & Sullivan’s 2024 Global Healthcare IT Solutions Enabling Technology Leadership Award. This distinction highlights Vivalink as a leader in the global remote patient monitoring (RPM) market for worldwide clinical applications of hospital-at-home, cardiac monitoring and clinical trials.

Frost & Sullivan’s Enabling Technology Leadership Award recognizes companies that apply their technology in new ways to improve existing products and services and elevate the customer experience. Its primary criteria includes Vivalink’s leveraging of technology to improve efficiency, application diversity and creativity, as well as its customer impact through performance, customer experience and brand equity.

Vivalink’s medical-grade wearable technology enables providers to deliver patient-centered care for hospital-at-home services, ambulatory cardiac monitoring, and remote clinical trials. Unlike traditional RPM systems, Vivalink offers continuous, real-time monitoring for a variety of specialties, including cardiology, oncology and neurology, while supporting chronic condition management, early interventions, and specialized applications.

“Frost & Sullivan commends Vivalink for its strategic focus on addressing critical unmet needs and limitations within traditional remote patient monitoring systems, thus accelerating its leadership in the increasingly competitive space,” said Dr. Rishi Pathak, research director at Frost & Sullivan. “With its flexible, versatile, and scalable Biometrics Data Platform and unique business model, the company strategically positions its platform as a convenient, cost-effective, and advanced solution, helping Vivalink capture significant market share.”

This award highlights Vivalink’s commitment to innovation, creativity, and ability to launch new solutions with far-reaching impact and application. Through its evolving solutions, Vivlink enables the integration of RPM technologies for modern healthcare delivery and optimized patient care.

“It is an honor to be recognized as a global leader of health IT solutions, highlighting our commitment to providing informed, continuous data that drives modern healthcare delivery models,” said Jiang Li, PhD and CEO of Vivalink.

For a copy of the detailed award write-up, see: www.vivalink.com/HealthIT_Award

About Vivalink
Vivalink is a provider of digital healthcare solutions for remote patient monitoring in healthcare and clinical trials. By combining medical wearables, advanced algorithms, and clinical applications, we provide a more effective and accessible approach to patient care worldwide.

About Frost & Sullivan
Frost & Sullivan is the Growth Pipeline Company™. We power our clients to a future shaped by growth. Our Growth Pipeline as a ServiceTM provides the CEO and the CEO’s growth team with a continuous and rigorous platform of growth opportunities, ensuring long-term success. To achieve positive outcomes, our team leverages over 60 years of experience, coaching organizations of all types and sizes across 6 continents with our proven best practices. To power your Growth Pipeline future, visit Frost & Sullivan at http://www.frost.com.

Media Contact:
pr@vivalink.com

View original content:https://www.prnewswire.com/news-releases/vivalink-recognized-with-2024-global-healthcare-it-solutions-award-by-frost–sullivan-302347191.html

SOURCE Vivalink

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IDEMIA Awarded 10-Year Blanket Purchase Agreement from the General Services Administration for Next-Generation Identity Proofing for Login.Gov

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34 minutes ago

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January 9, 2025

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IDEMIA offers trusted identity proofing and verification platforms backed by decades-long history of partnership with government agencies.

RESTON, Va., Jan. 9, 2025 /PRNewswire/ — IDEMIA Public Security North America, a leader in identity security and authentication services, has been awarded a 10-year blanket purchase agreement (BPA) worth up to $194.5 million from the General Services Administration (GSA) for its identity proofing capabilities. IDEMIA is one of 8 technology providers selected by GSA to accelerate the deployment of next-generation identity proofing technologies for Login.gov, a secure sign-in platform used by the public to create a single digital account that can be used to access multiple federal, state and local government agency sites.

After a rigorous qualification process by GSA, IDEMIA was selected for its robust and trusted identity proofing and verification technology, designed to ensure that individuals are who they say they are and prevent identity-related fraud, and its long-standing history of more than 60 years serving government agencies. IDEMIA’s Identity and Verification (ID&V) solution incorporates document authentication technology with comprehensive checks, such as digital tampering detection, document identification, font anomaly detection, liveness detection, and face capture. It complies with the highest security standards and is certified by the Kantara Initiative as compliant with NIST SP 800-63 rev. 3 Component Service at Identity Assurance Level 2 (IAL2).

IDEMIA’s identity proofing technology supports both active and passive facial liveness detection during authentication to ensure the person behind the camera is an actual individual. This technology has been awarded Level 1 and Level 2 compliance by iBeta in accordance with the ISO/IEC 30107-3 standards and most recently the Department of Homeland Security Science and Technology Department (DHS S&T). In addition, IDEMIA has incorporated accessibility and usability design feedback from Applause, a world leader in testing and digital quality, to ensure that IDEMIA’s identity proofing technology conforms with Web Content Accessibility Guidelines (WCAG).

“We look forward to serving GSA as a committed technology partner, supporting their digital transformation efforts to improve identity verification and customer experience of Login.gov, which is accessed by millions of users,” shared Donnie Scott, CEO, IDEMIA Public Security North America.

IDEMIA’s ID&V solutions are trusted by public and private organizations across the globe. It serves as the backbone of IDEMIA’s Mobile ID issuance technology, which has been rolled out in New York, Arizona, Delaware, Iowa, and Mississippi, with more states to launch in the coming months.

To learn more about IDEMIA’s Identity and Verification solutions, click here.

About IDEMIA Public Security North America
IDEMIA Public Security North America is a leader in identity security and authentication services to governments and private companies operating in North America. Our mission is to Unlock the World, Make It Safer – helping people access what matters most, more quickly, more safely, and more securely, in both the physical and the digital worlds. Our best-in-class technology helps to authenticate and secure physical and digital transactions. IDEMIA is recognized by the National Institute of Standards (NIST) as a top-ranking participant in the Institute’s passenger facilitation simulation testing as well as in its regular Biometrics Technology Evaluations rankings, reinforcing the trustworthiness and reliability of IDEMIA’s facial recognition solutions for government and consumers alike.  

Learn more at www.na.idemia.com / Follow @Idemia_NA on Twitter and on LinkedIn.

Media contact:  
Genevieve de Vera
IDEMIA Public Security North America
(978) 808-7047
genevieve.devera@us.idemia.com

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SOURCE IDEMIA Identity & Security USA LLC

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Topaz Labs to Expand Addison, TX Headquarters from 7,000 to 27,000 Square Feet; Add 130 High-Tech Jobs

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January 9, 2025

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The Town of Addison secures Topaz Labs with a $200,000 grant to build amenities and collaborative spaces for a new office.

ADDISON, Texas, Jan. 9, 2025 /PRNewswire-PRWeb/ — Topaz Labs, the leading provider of AI-powered photo and video enhancement technology, and the Town of Addison announce an award of a $200,000 Amenities and Collaboration Grant to Topaz Labs to support the expansion of its headquarters, nearly tripling its current size.

” Topaz Labs is exactly the kind of company we love to see grow here in Addison,” said Wayne Emerson, Director of Economic Development at the Town of Addison. Their innovative work in AI and commitment to the Town make them the perfect partner.

The company will lease 28,208 square feet of office space — up from their current 7,000 square feet and expects to invest at least $2.5 million to customize the space with innovation labs and collaborative workspaces for staff. Topaz Labs will become the sole office tenant at Building 900, the newest building in Village on the Parkway, a vibrant mixed-use destination offering premier shopping, dining, and entertainment experiences.

As AI continues to be a booming industry nationally and locally in DFW, Topaz Labs expects to add 130 high-tech jobs by the end of 2027, further contributing to Addison’s reputation as a hub for innovation and technology.

” Topaz Labs is exactly the kind of company we love to see grow here in Addison,” said Wayne Emerson, Director of Economic Development at the Town of Addison. Their innovative work in AI and commitment to the Town make them the perfect partner. We’re also thrilled for their employees, who will enjoy working in a brand-new, highly amenitized building surrounded by great restaurants, entertainment options, and walkable amenities at Village on the Parkway.”

” We’re so excited for the future of Topaz Labs in Addison,” said Eric Yang, CEO at Topaz Labs. “We sought a vibrant, safe, and energetic community with like-minded professionals doing their best work. We’ve found all of that in Addison.”

” This transformative lease aligns seamlessly with Topaz Labs’ rapid growth in the AI industry, as well as our partnership with the Town of Addison. We are honored to have represented them in securing this exceptional space for their headquarters,’ said Nick Lee, President – Office Division and Principal at NAI.

Topaz Labs will begin occupying its new office space in May of 2025.

About Addison

Addison, Texas, is the Address for Success—a vibrant 4.4-square-mile urban hub offering over 200 restaurants, 22 hotels, 12 million square feet of office space, and upscale residential options. Home to Addison Airport, one of the busiest general aviation airports in Texas, and providing prime access to a diverse and highly skilled workforce, Addison is a strategic location for businesses to thrive. Addison is a premier destination in North Texas, known for its world-class special events and exceptional amenities. Learn more at http://www.addisoned.com/

About Topaz Labs

Topaz Labs is the innovator in AI image and video enhancement software for enterprise-scale and professional videographers, cinematographers, post-production specialists, and consumer photographers alike to improve images and video at a speed and scale never before seen. Topaz Labs allows users to upscale, sharpen, and remove noise from blurry or otherwise imperfect images and videos. The company has 1.5 million customers worldwide. For more information, please visit www.topazlabs.com.

About NAI

NAI Robert Lynn, established in 1962, is a leading commercial real estate firm specializing in Dallas/Fort Worth. With a comprehensive range of services—including office, retail, industrial, property management, capital markets, corporate services, site selection, land, and consulting— the firm combines local expertise with global reach to deliver tailored solutions for clients. Their deep-rooted presence and proactive market approach have solidified their reputation as industry leaders. For more information, please visit www.nairl.com.

Media Contact

Wayne Emerson, Town of Addison, 1 9724507076, wemerson@addisontx.gov, addisoned.com

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SOURCE Town of Addison

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