Consumer ID to Drive Global Biometric Market

May 3, 2010 - PRLog -- Consumer ID is the use of biometrics to identify or verify the identity of individuals conducting in-person or remote transactions for goods or services. Biometrics is used to complement or replace authentication mechanisms such as presenting cards and photo identification, PINs, or signatures. At present, the application of biometrics in consumer identification is in its nascent stage. However, with the businesses eying to offer more secure solutions to its customers, thereby reducing the chances of frauds, the segment is anticipated to grow at a CAGR of around 27% during the period spanning from 2010 to 2012, according to our research report “Global Biometric Forecast to 2012”.

Our team of experts has studied the use of biometrics in a number of application areas like civil identification, criminal identification, and consumer identification, access control/attendance, device/system access and surveillance. Our research provides data on the biometric market in value terms for all the application areas for the period between 2007 and 2012. As per our study, by 2012 civil ID and criminal ID will together constitute over 60% of the biometric market while consumer ID will constitute around 7% of the market share, up from around 5% share recorded by the end of 2009.

Besides this, we have successfully done extensive research and analysis to recognize the present and future biometric market trends on the regional level, covering major geographic markets such as North America, South America, Europe, Asia-Pacific and Middle East and Africa. The report further studies the global biometric market by segmenting it on the basis of technology, application and its usage across a wide range of industries.

“Global Biometric Forecast to 2012” provides an in-depth analysis of the global biometric market by giving an insight into the present and future market trends of the industry. We have also identified certain factors that might restrain the growth of the biometric industry, thereby helping clients to prepare themselves for the challenges ahead.

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.