Research and Markets Announces the Release of “Global Biometrics Market Forecast and Opportunities, 2017”

The limitations and inconvenience involved in using alternative identification methods i.e. photographs, passwords and PIN codes, have driven the growth of biometric technologies in the 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 and 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 and 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.

Companies mentioned include: Safaran Group, 3M Cogent, NEC Corp, Precise Biometrics AB, Smartmatic, Fujitsu Limited, SAFE-TIC, and Nuance Communications.

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