Electronic Security - Control Systems - Biometrics - Smartphone and internet usage to have a positive impact on biometrics market

The growth percentage for the country’s biometrics market during 2016-2021 is projected to be at a CAGR of around 31 per cent. The wide deployment of biometrics technology across various government projects such as Aadhaar programme (UIDAI), national ID cards, coupled with issuance of e-passports and visas define the growth of the biometrics market. In addition, rising security concerns, increasing deployment of fingerprint, iris and voice recognition systems are also underpinning growth in the Indian biometrics market. The market for authentication systems is also poised to grow at a higher pace owing to increased security concerns and inflating security budgets all over the world, as compared to the intruder alarm and perimeter security systems market. Biometrics, however, is the major contributor to the authentication systems market. The growing consumer electronics sector in the country also offers huge growth opportunities for integration of biometrics technology.

Key Takeaways: Increasing industrialization and the growing presence of various IT/ITeS and manufacturing industries in the western and southern parts of the region will further throw up huge opportunities for this sector to grow. Rising number of ATMs, coupled with growing number of smartphone and internet users, will also have a huge positive impact on the country’s biometrics market during the period 2016-2021.

Key Vendors: Honeywell, CP Plus, HIK Vision and others including Bosch Security, HID, Matrix, Solus, Smart Eye, Spectra, Zicom