Growing security concerns and increasing number of e-government
processes, coupled with rising technological advancements to drive global
biometrics market through 2022
According to TechSci Research report, “Global
Biometrics Market By
Type, By End Use Sector, By Region, Competition Forecast & Opportunities,
2012 – 2022”, the global market of biometrics is projected to exhibit
a CAGR of 14% during 2017-2022. Growth can be attributed to increasing
deployment of biometric technology in various government projects such as e-passports and e-visas for identification purposes, growing mobile
workforce, surging use of digital transactions, etc. Additionally, increasing
integration of biometric technologies, such as fingerprint recognition, facial
recognition, hand/palm recognition, iris scanners and voice recognition in
products and services by sectors including banking & finance, consumer
electronics, etc., for providing security benefits to users is expected to drive global biometrics market during forecast period.
Browse 55 market data Tables and 65 Figures spread
through 200 Pages and an in-depth TOC on
"Global Biometrics
Market"
Adoption of
fingerprint recognition technology by several sectors grew during the past five
years, on the back of its high processing speed, ease of use, increased
awareness, etc., thereby enabling it to dominate the global biometrics market
in 2016. Deployment of other biometric technologies including hand/palm
recognition, iris scanner, voice recognition, etc., is anticipated to increase
during forecast period, owing to their growing adoption by several end use
sectors. Moreover, during the period of the study, Asia-Pacific is likely to
emerge as the fastest growing region in global biometrics market, on account of
large-scale government e-passport and national ID programs by several countries
in the region.
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“Deployment of biometric technology
in Point of Sales (POS) terminals is growing in order to secure and
authenticate the payment gateways, as biometric data of the users such as
fingerprint, iris, etc., can’t be easily hacked as compared to traditional
methods such as PINs and passwords. With rising awareness about the benefits of
biometric POS terminals across various end user segments, demand for these
advanced security systems is expected to grow, thereby positively influencing global
biometrics market in coming five years.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global
Biometrics Market By Type, By End Use Sector, By Region, Competition Forecast
& Opportunities, 2012 – 2022” has evaluated
the future growth potential of global biometrics market and provides statistics
and information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global biometrics market.
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