Biometrics: A Global Strategic Business Report
San Jose, CA (Vocus) September 3, 2010
Terrorist attacks, plane hijackings and increasing crime rates have underlined the need for greater security measures around the world. Consequently, biometrics is growing in eminence as an essential security measure taken at airports and other critical access sites. The e-passport projects for the US Visa waiver countries, EURODAC, Visa Information System (VIS), and the new generation Schengen Information System (SIS II) are other major drivers that are expected to encourage biometrics usage. The massive surge in number of Visa requests in Europe exemplifies the growing importance of biometrics for identity verification. Further, the limitations and incontinences with alternative identification methods through photographs, passwords and PIN codes drive the development as well as growth of biometric technologies. Biometrics usage would further increase in public sector owing to criminal and civil security issues, and in commercial sector for cost savings and convenience factors. The process of technology convergence is slated to become critical and virtually inevitable in future for sustaining growth and profitability.
The technology is forecast to witness an accelerated pace of growth in the next decade, with main emphasis on development of solutions and infrastructure. This will help in enabling mainstream biometric authentication and customer-centric corporate expenditures. Fingerprint technology and signature verification would assume leadership positions supported by factors such as pricing, high degree of accuracy and convenience.
Biometric applications in the public sector accounts for more than 50% share, and include integrated eBorders (passports, visas and border control), eIDs (National IDs and ID cards) and eGovernment (ID verification & electronic access). In 2008 and 2009, the biometrics industry witnessed low or negligible demand in non-critical IT applications, as there was drastic reduction of commercial investments in the wake of recession. However specific niche areas of development such as the time and attendance tool sustained the overall healthy pace in the market. In addition, barring few instances of withdrawals, postponements and delays of some large-scale public sector projects, biometrics industry was for the most part stable and immune through the economic slowdown.
As stated by the new market research report on Biometrics, the US dominates as the single largest worldwide market for biometrics. Europe and Asia-Pacific follow the lead at the second and third positions, respectively. The consolidated share of the US and European biometrics markets constitutes a sizeable chunk of over 60%. In terms of fastest pace, the Latin America and Asia-Pacific markets are projected to race ahead of the other world markets by the year 2015.
The Non-AFIS/Finger Scan represents the largest technology driven segment worldwide. The other leading technology, Signature Verification is slated to grow at the overall fastest pace compounded annually through 2015. The Government/Civil is one of the key end-user category of the technology, playing a critical role in its wide acceptance and proliferation. Biometric technologies are implemented in government agencies such as state, local, federal and critical military and defense-related access sites. Other important biometric end-use segments gaining prominence include Access Control/Time & Attendance, Financial and Computer & Network Security.
Major participants in the biometrics market are categorized into device suppliers, solution providers and algorithm providers. The intensely competitive biometrics market comprises a huge pool of diverse players driving majority of the technology trends. The biometrics market is characterized by select market leaders with a global presence, competing alongside smaller and niche players. Few key global players include 3M-AiT, Ltd, AuthenTec, Inc., BIO-key International, Inc., Biometric Security Limited, Cogent Systems Inc., Sagem Sécurité, Printrak International, Inc, Siemens Biometrics Center and Fujitsu Microelectronics America Inc. among others.
The report titled “Biometrics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth opportunities, technology overview, challenges, new product introductions, recent industry activity, and profiles of market players worldwide. Analysis is presented for major geographic markets such as United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Middle East. Market analytics are provided in terms of dollar value for technology including AFIS, Non-AFIS/Finger Scan, Hand Geometry, Iris/Retinal Scan, Facial Recognition, Voice Recognition, Signature Verification and Keystroke Dynamics/Typing Rhythms. Analytics are also presented in dollar value for the world market by End-use segments namely, Government/Civil, Financial, Computer &Network Security, Access Control/Time & Attendance, Healthcare and Others. The study also presents historic data for an insight into market evolution over the period 2000 through 2006.
For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Biometrics_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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