The 2021 level of investment in Biometric Digital Identity reflects Tornado level Market Development in the breadth and depth of capital infusion and acquisitions.
The industry had seen large singular acquisitions over the previous decade including:
Thales's acquisition of Gemalto for $5.6B in 2019.
Advent International's $2.7B purchase of Safran's Identity and Security Group from Safran in 2017.
Gemalto's $850M acquisition of 3M's Identity Management Business in 2017.
Advent International's $1.5B acquisition of Oberthur in 2011.
Safarn's $1.09B acquisition of L-1 Identity Solutions in 2011.
3M's $943M acquisition of Cogent in 2010.
However, the sheer number, scope, and pace of deals in 2020 is unprecedented in the market's history. As is the actual value of non-acquisition investment.