One of the world’s fastest growing technologies, biometric has revolutionized business security landscape at offices. Government organizations as well as financial and educational institutions, across the globe, are also enjoying the advantages of its applications. Biometric uniquely identifies a person’s physical and behavioral characteristics, and governments across the world are adopting the technology to strengthen their national security and maintain individual identity. The corporate security and identity theft are also fueling growth in the global biometric market, which is expected to expand at a CAGR of around 21% during 2012-2014, as per the estimation carried out in our latest research.
According to “Biometric Market Forecast to 2014”, the biometric technologies are being widely accepted and adopted in various civil and commercial applications, including Point of Sale, ATMs, and border security (passports and customer ID). Companies are coming up with automated biometric software or systems which help reduce costs and offer enhanced intelligence with automated features. Our in-depth report covers the prevalent market trends and presents the future scenario of the biometric market in different verticals, applications, and regions. e-commerce, financial services, and retail are set to emerge as the significant segments for biometrics vendors.
Our extensive research analyzes various biometric technologies, and includes their working pattern and recent developments relating to them. It identified that fingerprint recognition dominates the global biometric technology market, and other tools are also gaining ground. Emerging technologies like Gait recognition, ear shape recognition and keystroke dynamics, among others have also been discussed along with their advantages. The report also elaborates the industry trends and drivers which are influencing the market growth. It was observed that companies are looking for such software products which reduce time spent on integration. Besides, it was found that biometric authentication in multi-layer security architecture would be the future of network security.
The study includes the major biometrics initiatives being undertaken by various countries. Analysis and statistics regarding market size, growth, share, segmentation and geographic distribution have been included in our report to present a comprehensive view of the global biometric market. It has also studied industrial developments and looked into competitive landscape to help clients understand the market structure and its progress in the coming years.