India’s Biometrics Market to Grow at 31 Percent CAGR Between 2016-2021: Report

India’s biometrics market will be worth more than three billion dollars by the year 2021, according to a new report from TechSci Research. Entitled “India Biometrics Market By Type, By End Use Sector, Competition Forecast & Opportunities, 2016-2021”, the report says this growth reflects a CAGR of about 31 percent during the forecast period.

India's Biometrics Market to Grow at 31 Percent CAGR Between 2016-2021: ReportAadhaar is, of course, the major driver of the market. The biometric citizen ID program continues to grow in importance as it finds impactful links in a range of sectors and applications, including its emerging use in everyday banking. Security concerns are also helping to drive the adoption of biometric technologies, TechSci Research says.

Another strong area is consumer electronics, which “is offering huge growth opportunities” with respect to integrations of biometric technologies, according to a report synopsis. This tracks with growth in domestic use of smartphones and the internet in general, which TechSci Research says saw 36 percent and 24 percent increases, respectively, in users last year.

In short, it’s a national biometrics market very similar to many others around the world, save for its enormous government-driven component. But as Aadhaar shows its benefits and advantages in the years to come, governments around the world may similarly embrace their own biometric ID programs.

July 5, 2016 – by Alex Perala