Biometrics Market in India to Grow More than 40 percent: TechNavio Report

LONDON - Feb. 5, 2014 - PRLog -- London, February 5 2014: TechNavio, the independent London-based global research firm, today announced the publication of its research report on the Biometrics Market in India. The report projects huge growth, with a market CAGR of more than 40 percent during the forecast period of 2014-2018.

As per research findings, an increased number of government-initiated biometrics projects are driving the growth of the Indian market. Both the central and state governments in India have initiated several large-scale biometrics projects to control security threats and identity thefts. Moreover, an increase in insider theft cases in government departments is resulting in higher adoption of biometric solutions in the government sector. This, in turn, is supporting the growth of the Biometrics Market in India.

“Currently, fingerprint identification biometrics is the most widely implemented biometric technology in the Indian market. As the market will be witnessing technological advancements, the implementation of face recognition and iris recognition technologies will increase,” said a TechNavio senior analyst and report co-author.

“The emergence of other biometric technologies such as vein recognition, voice recognition, DNA, and signature verification, will be reducing the demand for fingerprint identification biometrics in the market in the near future.”

To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.

If you are interested in more information on this topic and our upcoming research on the Biometrics Market in India 2014-2018, please send an e-mail to media@TechNavio.com

About TechNavio

TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.

TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.

TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Biometrics Market in India. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.

Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.

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