Indian biometrics market driven by the need for stricter security protocols (Press Release via Live-PR)
The Indian biometrics market has been forecast to increase at a compound annual growth rate (CAGR) of 46% over the period 2011-2015, with the need for higher security in the country and the need for stricter security protocols among private companies set to drive this industry growth.
Global fingerprint sensors market the most popular form of biometric technology — The global fingerprint sensors market has been forecast to hit a value of US$255 million by 2018, driven by technological advancements and growth in several Internet applications. Social networks’ demand for a robust mechanism for securing the digital identity of users represents another important growth driver. (Companies & Markets)
Biometrics security is not foolproof (Police One) — A discussion of passwords, the Windows registry, and the UPEK fingerprint password manager with techie cop Tim Dees.
Our 2¢ here.
Growing Security Concerns and Demand from Developing Markets Drives the Electronic Security Systems Market, According to New Report by Global Industry Analysts, Inc. (Press Release via Yahoo & PRWeb)
Another noteworthy trend is the shift in preferences towards integrated electronic access control systems & advanced network systems. Given their ability to enable the integration of existing access control systems with other security services, IP based open-architecture systems will witness increased demand in the next few years, thereby adding to the revenue stream. Access control systems that offer remote access via web browsers or virtual private networks (VPNs) are turning out to be highly popular among businesses organizations, especially SMBs, thereby driving access control system installations. Biometric technologies such as voice and face identification solutions, iris scanners, hand geometry systems, and fingerprint scanners also offer bright prospects for the biometric access control market. Poised to gain are biometric physical access systems, which seamlessly combine with time & attendance, payroll and other human resource application systems.
The global market for Electronic Security Systems (ESS) is projected to reach US$62.5 billion by 2018.
The paragraph quoted above certainly matches what we’ve been seeing in the market lately.
‘Biometrics market worth $7.59bn in 2012’ Says Visiongain Report (Press Release via PRNewswire)
Visiongain’s analysis indicates that the Biometrics market is set to be worth $7.59bn in 2012, as demand continues for advanced personal identification and verification systems for a range of military, governmental and civilian applications.
The Visiongain author of the Biometrics report comments that: ‘Biometric technologies are an increasing viable prospect for both military and civilian purposes. With progressively increasing technological advances and codification of doctrinal usage, biometric technologies are set to fulfil a range of security demands. Despite defence cutbacks, the global biometrics market is to be both sustained and enhanced by the commercialisation of the technology, which is increasingly finding applications within the civilian marketplace, providing security from criminal enterprises and identity theft.’
Security Products to 2016: US demand to rise 7.3% annually through 2016 (Press Release – SBWire)
This study analyzes the US security products industry. It presents historical demand data for the years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by product (e.g., access controls, alarms, closed-circuit television, contraband detection, electronic article surveillance, automotive) and market (e.g., government and institutional, trade and distribution, industrial, air transport, financial institutions). The study also considers market environment factors, details industry structure, evaluates company market share and profiles industry players.
Global Biometrics Market Forecast and Opportunities, 2017 (Report Linker Press Release)
The limitations and inconvenience involved in using alternative identification methods i.e. photographs, passwords and PIN codes have driven the growth of biometric technologiesin last few years. Again, increasing terrorist attacks, plane hijackings and crime rates have underlined the need for superior security measures around the world. On the other side, some border control projects like e-passport, VIS, EURODAC, etc. and some national identity scheme like Aadhar are acting as a major driver for the biometrics industry. As more and more people and organizations depend on computers to store their important documents, there is an increasing need for security. Biometrics has been adopted for such logical access control applications as the most secure technology till date.
According to”Global Biometric Systems Market Forecast &Opportunities, 2017″, global biometrics market revenues are anticipated to reach USD 10.02 Billion by 2014. Increasing security requirements for public security i.e. border control, national identity etc., internet & network access and financial transactions are acting as growth driver for the industry. The market has been lead by fingerprint technology from the last few decades. However, the vein recognition technology is gaining acceptance globally which is expected to grow rapidly in years to come. Regionally, North America & Europe together contributed 62.46% of the total revenues of global biometrics market in 2011. The global biometrics market has a huge potential due to increasing public acceptance.
Report: “eID in South-East Asia” anticipates over 470 million ID documents in 2017 (Smart Insights)
According to Smart Insights Report “eID in South East Asia”, this market is to deliver a steady growth over the period, reaching over 71 million ePassports and more than 350 million eID cards installed in 2017. In addition, around 70 million driver’s licenses will be in issue.
Analysts forecast the Global Biometrics Technology market for Financial Services to grow at a CAGR of 40 percent over the period 2011–2014.