India: biometric market to hit USD 2.7 bln by 2019

Thursday 25 September 2014 10:46 CET | News

The Indian government as well as private companies are increasingly using biometric technology to tackle security issues, a recent study points out.

According to the report India Biometrics Market Forecast & Opportunities, 2019, the countrys biometrics market is projected to reach USD 2.7 billion by 2019 on account of growing demand for security solutions in residential, transportation, banking and hospitality sectors coupled with increasing spending on defense security equipment. Lack of data protection and inadequate border security, coupled with growing security concerns and incidences of crimes are spurring growth in the biometrics market in India.

The same source mentions that the adoption of security systems such as surveillance cameras and access control systems is expected to grow in the residential sector during the forecast period. Few of the major challenges that are restricting the adoption of biometrics systems include high cost of equipment and lack of proper implementation in government projects. Presently, the major players involved in offering biometric solutions in India include Sagem Morpho, 3M and NEC.

Indias largest government run National ID project Aadhaar, which comes under the ambit of Unique Identification Authority of India (UIDAI), has been significantly boosting the countrys biometric systems market.

More than 400 million citizens have been already enrolled, and the project is currently in its second phase. The process of enrolment for Aadhaar number involves the use of biometric systems that include both fingerprint and IRIS detection systems. NREGA (National Rural Employment Guarantee Act) and e-driving licenses are other major projects initiated by the government of India that are augmenting the demand for biometric systems. In addition, over the last few years, the adoption of biometric systems is also rising in residential segment due to increasing incidences of crimes in urban areas of the country.

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Keywords: India, biometrics, online security, online fraud, Aadhaar, biometric authentication
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime