Global biometrics devices market is poised to grow significantly

By : |December 6, 2013 0

DALLAS, USA: The 2013 biometrics industry study by WinterGreen Research says that the global biometrics market is anticipated to reach $16.7 billion by 2019.

As people increasingly use electronics in their personal life, protection of individual information becomes a more compelling problem. Biometrics devices protect individual information.

Biometric identity units provide security protection. Units are comprised of integrated biometric capture devices. Biometrics is used to identify anyone in an accurate, repeatable manner. Physiological characteristics used for biometrics commonly include the face, fingerprints, and DNA. Behavioral characteristics include the user’s digital signature, his or her voiceprint, and walk.

As law enforcement programs are redesigned to include information from social media and to initiate smarter cities initiatives, biometrics becomes a more compelling technology, both fingerprinting and facial recognition. Technologies. With the worldwide rise in the threat of terror, biometric systems become a more compelling tool in the hands of the authorities charged with keeping populations safe.

A rise in government projects has been seen as terrorists become an increasing threat. This has been accompanied by increasing data security concerns. There is a need for advanced security devices. Security systems implementations drive the market for biometric systems. Biometric data protection is being used to replace photographs, passwords and PIN codes.

Growth of biometric technologies has been in response to global security threats. Terrorist attacks, airport security initiatives, and attempts to lower crime rates have brought an increasing investment in biometric security systems. Government projects include ePassports, eDriving licenses, border management, and national IDs. These initiatives have been implemented in developed countries.

India, Mexico and Russia are driving the extraordinary growth of biometric systems. China has a biometric national ID program that commenced in 2013. Computer storage of important documents has created an increasing need for biometric security systems.

According to the study, “Biometric devices represent a major factor impacting law enforcement and border patrol markets. Governments and law enforcement agencies are leveraging biometric devices to strengthen all aspects of citizen protection. Healthcare organizations are implementing biometric systems to provide patient privacy.”

Global Consumer Electronic Biometrics Market 2012-2016:

Analysts forecast the Global Consumer Electronic Biometrics market to grow at a CAGR of 40.45 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing use of personal devices for financial transactions. The Global Consumer Electronic Biometrics market has also been witnessing increasing number of mergers and acquisitions. However, the availability of inexpensive non-biometric technologies could pose a challenge to the growth of this market.

The key vendors dominating this space include 3M Cogent Inc., AuthenTec Inc., Fujitsu Ltd., and NEC Corp.

Global Palm Vein Biometrics Market 2012-2016:

Analysts forecast the Global Palm Vein Biometrics market to grow at a CAGR of 46.6 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need for advanced security systems. The Global Palm Vein Biometrics market has also been witnessing an increasing deployment of palm vein biometrics. However, the need for improved compatibility and standardization could pose a challenge to the growth of this market.

The key vendors dominating this space include Fujitsu Ltd., iAccess Systems Inc., and M2SYS Technology.

Global Biometric Readers Market 2012-2016:

Global Biometric Readers market to grow at a CAGR of 17.1 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for high-level security in government departments. The Global Biometric Readers market has also seen an increase in the number of mergers and acquisitions. However, strong competition from inexpensive non-biometric technologies could pose a challenge to the growth of this market.

The key vendors dominating this market space are Fujitsu Ltd., 3M Cogent Inc., NEC Corp., and Safran Group.

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