India Biometrics Authentication and Identification Market – Estimation & Forecast (2015-2020)

BLOOMINGTON, Minn. - Oct. 8, 2015 - PRLog -- According to a recently published BIS Research report, "India Biometrics Authentication and Identification Market – Estimation & Forecast (2015-2020)", the biometric market value is anticipated to grow from $823.46 million in 2014 to $2.06 billion in 2020 at an estimated CAGR of 16.47% from 2015 to 2020. Growth in the market is anticipated on account of extensive use of biometric technology in the government sector. Ongoing government projects which include issuance of e-passports & visas, and unique identification cards under the Aadhaar System, have played a major role in boosting demand for biometric systems in India. Growing digitization in the government sector is expected to further propel use of biometric technology in the country over the next five years.

The study has evaluated the future growth potential of biometric systems in India, and provides statistics and information on market structure, size, and shares. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India biometrics market. It comprehensively answers all the major aspects of biometric industry, like the growth trends, the breakthroughs leading to the dominance of such technologies in the market. The research study has covered the maximum qualitative and quantitative information employing primary as well as secondary research.

The biometric authentication and identification market in India has evolved though several stages of advancement, both in hardware and software. The massive proliferation of Smartphones and tablets has been largely responsible for ramping up the sales for the market, growing popularity of Wearable technology, increasing adoption of E-Commerce services. Emerging trends in mobile segment and evolving technologies in biometrics are two of the most important biometrics market opportunities. Whereas the major challenges faced by the biometric industry are Cost of Deployment of Emerging Biometric Solutions, Integration of Biometric Technology into Existing Software, Latent Fingerprinting and Spoofing and Misuse of Stored Data /Privacy.

The analysts at BIS Research quoted, “Biometric data has emerged as an important tool in identity management, helping various industries reduce fraud and integrity risks. Various biometric authentication systems are gaining increasing market traction in India, gradually replacing conventional security systems like password/PIN protection. The rationale behind increasing use of biometrics is high security and reliability. Consequently, the adoption of biometric systems in India is expected to continue growing in both public and private sector to ensure authenticated access and avoid security breaches."

About BIS Research(http://bisresearch.com):

BIS Research (Business Intelligence and Strategy Research) is a global market research and advisory company which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.

BIS Research publishes in-depth global market intelligence reports across different industry verticals-Electronics, Semiconductor, Telecom, Information Technology, Automotive, Medical Devices, and other emerging technologies.