India Biometrics Technology Market (2023-2029) Outlook | COVID-19 IMPACT, Growth, Revenue, Industry, Forecast, Size, Trends, Share, Value, Companies & Analysis

India Biometrics Technology Market Highlights

Report Name	India Biometrics Technology Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth Rate (CAGR)	14.64%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Types, By Applications
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
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Topics Covered in the India Biometrics Technology Market

India Biometrics Technology Market report thoroughly covers the market by types and applications. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Biometrics Technology Market Synopsis

India Biometrics Technology Market is estimated to register tremendous growth in the country owing to the rising adoption of biometric authentication in banking and financial services, especially iris scans and fingerprints have a high demand in the market. Additionally, the rising safety concerns across the industries due to a continuation of fraud practices, have driven the biometric authentication demand as it offers a higher level of safety & security than password-based biometrics. , the healthcare sector is also switching towards highly secured authentication systems, including biometric authentication to maintain hassle-free and secured patient’ identification. This is one of the growth proliferating factors for the India Biometrics Technology industry.

According to 6Wresearch, the India Biometrics Technology Market size is estimated to rise at a CAGR of 14.64% and expected to reach INR 42,747 crore during the forecast period 2023-2029. The market growth is dependent on various growth factors such as financial inclusion, rising security concerns, and replacement of traditional security systems.  Furthermore, AI and Machine Learning Integration have been seen in biometric systems, which allows faster and more accurate recognition processes, this is estimated to impact positively market growth in the coming years. The rising trend of the integration of multimodal biometrics such as facial recognition, fingerprints, and iris scans in order to enhance security, speed, and accuracy during identification.  Additionally, The COVID-19 pandemic has impacted positively on the product demand, as there has been an increased adoption of contactless biometrics to decrease virus transmission.  The growing integration of biometric authentications, such as fingerprint and facial recognition into mobile phones to maintain higher security with secured data is another significant development estimated to fuel the India Biometrics Technology Market growth in the country over the coming years.

COVID-19 influence on the India Biometrics Technology Market

COVID-19 had a significant impact on the India Biometrics Technology Market which is a part of the Asia Pacific Biometrics Technology Market. The lockdown imposed by the government in the country to cease the virus spread had affected the product's adoption and integration, also the closure of several industries in the country had further reduced the product demand. Which, in turn, declined the India Biometrics Technology Market share at a massive rate. On the other hand, the market has seen a slight demand in the country with an increased adoption of biometrics in the healthcare sector for enhanced recognition and healthcare data privacy.

India Biometrics Technology Market - Company Names

India Biometrics Technology Market is highly competitive as several companies are dealing with the same progress, some of them are mentioned below in the list:

• HID Global
• Morpho (Safran Identity & Security)
• NEC Corporation
• ZKTeco
• Mantra Softech
• Suprema Inc.

Biometrics Technology Industry Trends in India

Some are the major trends ongoing in the market are leading to securing high market growth. Data Privacy Regulations, which includes the personal data protection bill. These regulations are built to govern how the biometric data is collected and used, with a focus on protecting data privacy. Startups and Innovations have been contributing to the availability of advanced range biometrics solutions for enhanced security for several industries such as banking, healthcare, and financial institutions.  Moreover, the rising replacements of traditional biometric systems with advanced range biometric systems across various industries like retail, hospitality, and education to improve the accuracy during identification is likely to secure tremendous growth over the years in the country. 

Market Analysis by Types

According to Dhaval, Research Manager, 6Wresearch, all the segments including, Fingerprint, Palm, Face, Iris / Retina, Vein, Voice, and Signature have been gaining interest from the user, the adoption depends on security requirements and user convenience. 

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Biometrics Technology Market Outlook
• Market Size of India Biometrics Technology Market, 2019
• Forecast of India Biometrics Technology Market, 2029
• Historical Data and Forecast of India Biometrics Technology Revenues & Volume for the Period 2019 - 2029
• India Biometrics Technology Market Trend Evolution
• India Biometrics Technology Market Drivers and Challenges
• India Biometrics Technology Price Trends
• India Biometrics Technology Porter's Five Forces
• India Biometrics Technology Industry Life Cycle
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Types for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Fingerprint for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Palm for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Face for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Iris / Retina for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Vein for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Voice for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Signature and others for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Applications for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Government for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Defense for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Travel & Immigration for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Home Security for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Banking & finance for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Consumer Electronics for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Healthcare for the Period 2019 - 2029
• Historical Data and Forecast of India Biometrics Technology Market Revenues & Volume By Commercial security and others for the Period 2019 - 2029
• India Biometrics Technology Import Export Trade Statistics
• Market Opportunity Assessment By Types
• Market Opportunity Assessment By Applications
• India Biometrics Technology Top Companies Market Share
• India Biometrics Technology Competitive Benchmarking By Technical and Operational Parameters
• India Biometrics Technology Company Profiles
• India Biometrics Technology Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Types

• Fingerprint
• Palm
• Face
• Iris / Retina
• Vein
• Voice
• Signature
• Others

By Applications

• Government
• Defense
• Travel & Immigration
• Home Security
• Banking & Finance
• Consumer Electronics
• Healthcare
• Commercial Security
• Others

India Biometrics Technology Market: FAQs