|By Business Wire||
|March 28, 2014 03:17 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/fs6rmf/india_biometrics) has announced the addition of the "India Biometrics Market Forecast and Opportunities, 2018" report to their offering.
Lack of data protection, terrorist threats, population growth, increased productivity and technological advancements along with upcoming government programs are escalating the demand for biometrics systems in India.
According to the recently published report India Biometrics Market Forecast & Opportunities, 2018, Indian biometrics market revenue is anticipated to reach up to USD 2 Billion (Rs. 10,000 Crore) by 2018. The main drivers for the growth of Indian biometrics market are lack of data protection, improper border security, terrorist threat, population growth and technological advancements. The challenges being faced by Indian biometrics market are the rough hands & cataract problems, lack of innovation, implementation of biometric at grass root level and high cost of production. The industries are adopting the biometric systems because of its benefits such as increased productivity, revenue, cash flow which ultimately help in customer retention.
The growth of biometrics market can be attributed to the increasing demand in security sector along with increased application in government projects. India's upcoming biometric projects such as e-passports, biometric pan cards, driving license, smart cards for BPL (Below Poverty Line) families (includes conversion of the old ration card to biometric ration cards) and much more. These biometric systems include technologies such as fingerprint scanners, iris scanners, facial & hand recognition with fingerprint scanners accounting for the highest market share in 2012 said Mr. Karan Chechi, Research Director with TechSci Research.
The government of India has combined a database of more than 200 Million Indian residents digital fingerprints, iris scans, facial photographs, names, addresses and birthdates. However, this huge compilation of private information is minuscule compared to the volume of data the Government ultimately intends to gather.
- 3M Cogent
- 4G Identity Solutions
- Aarya Ites Pvt. Ltd.
- Bioenable Technologies
- Morpho (Safran) Group
- Motorola Solutions
- NEC Corp.
- Smart Identity Devices Pvt. Limited
- Suprema Inc
For more information visit http://www.researchandmarkets.com/research/fs6rmf/india_biometrics
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