BURNABY, Canda, September 29, 2014 /PRNewswire/ --
Growing Demand From Huge Government Projects Such as UID Coupled with Increasing Security Concerns Continue to Propel Biometrics Market in India
India is one of the fastest growing biometrics markets and is witnessing increasing adoption of biometrics systems, majorly in various government projects such as National ID Card, e-drivers, NREGA, etc. Fingerprint modality based biometrics dominates the country's biometrics market, with other biometrics modalities such as IRIS and Face also witnessing continuing growth, primarily in access control applications. According to a recently published report by TechSci Research "India Biometrics Market Forecast & Opportunities, 2019", the country's biometrics market is projected to reach USD2.7 billion by 2019. Government sector is expected to continue its dominance over the next five years, with defense sector also expected to witness significant increase in adoption of biometric systems, predominantly in border control applications.
India's biometrics market is also anticipated to witness increase in demand from residential sector as a result of growing number of luxury residential buildings and increasing penetration of advanced security systems. Time & attendance systems and biometrics apps for mobile phones are some other key emerging trends boosting the biometrics market in the country. Other major end-user sectors such as transportation, banking and hospitality are also witnessing growing adoption of biometric security systems, primarily in access control applications, where card readers continue to dominate. On the contrary, the fingerprint modality based biometric systems account for the majority of the share for time & attendance application.
"Face modality based biometrics technology is expected to be deployed in most of the major railway stations and metro stations across India by 2019 due to increasing security concerns. Moreover, increasing spending on defense security equipment coupled with growing demand for security solutions in residential, transportation, banking and hospitality sectors is forecast to boost the biometric market in India during 2014-19." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Biometrics Market Forecast & Opportunities, 2019" has evaluated the future growth potential of India Biometrics market and provides statistics and information on market structure, market trends and industry behavior. The report includes India's Biometrics market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the Biometrics market in India.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
Sales & Marketing Consultant
Contact Phone- +1 646 360 1656
SOURCE TechSci Research