[December 18, 2012]

Research and Markets: The Biometrics Market in India to Grow At A CAGR Of 46.10 Percent over the Period 2011-2015

Research and Markets (http://www.researchandmarkets.com/research/4wwm9b/biometrics_market) has announced the addition of the "Biometrics Market in India 2011-2015" report to their offering.

One of the key factors contributing to this market growth is the increase in the number of security issues. The Biometrics market in India has also been witnessing the increasing adoption of fingerprint biometrics. However, the implementation issues could pose a challenge to the growth of this market.

The key vendors dominating this market space are NEC India Pvt. Ltd., Sagem (News - Alert) Morpho Securities Pvt. Ltd., and Suprema Inc.

The other vendors mentioned in the report are Bayometric Inc., enterprise Software Solutions Labs(eSSL) India, HCL Security Ltd., NEC (News - Alert) ndia Pvt. Ltd, Sagem Morpho Securities Pvt Ltd., Suprema Inc., and 4G Identity Solutions Pvt. Ltd.

Commenting on the report, an analyst from TechNavio's IT Security team said: ''The intersection of biometrics and smart cards for projects such as rural banking and the driver's license is one of the major trends in the market. The Unique Identification (UID) project will also result in the issuance of smart cards for the citizens of the country once the overall registration of data is completed. Apart from the above-mentioned projects, biometrics is being used as a stand-alone authentication device for various purposes. Biometrics integrated with smart cards offer the advantage of offline authentication. This is an important advantage for remote locations where no proper communication infrastructure is present. In addition, a smart card has the added advantage of being able to store multiple applications for multiple purposes. Thus, a smart card integrated with biometrics can enable physical and logical access while being able to store all necessary data on the card itself. In this manner, individuals can also keep track of their access histories through the aid of a smart card terminal.''

According to the report, currently, organizations are adopting biometrics technology over traditional identification and security methods such as physical checking and verification by viewing an individual's photo ID. This is because biometrics technology provides a more accurate authentication process than any other known access control technology. The market is witnessing an increasing adoption biometrics from the Banking, Financial Services, and Insurance (BFSI) segment.

For more information visit http://www.researchandmarkets.com/research/4wwm9b/biometrics_market

[ Back To Insurance Technology's Homepage ]