Biometric systems are gaining worldwide acceptance primarily across the developing countries such as India. According to 6Wresearch, India Biometrics Market (Single and Multi-Modal segments) registered annual shipments of more than 350,000 units. Single-Modal Biometric devices captured around 74% share of the entire India Biometrics Market. 3M Cogent led the market followed by ESSL.
Key Highlights of the Tracker
India Biometrics Market witnessed a marginal increase in demand for the Single-Modal Biometric devices. However, the demand for Fingerprint Biometric readers registered a consistent increase over the past few quarters. At present, the usage of Biometric systems is restricted to only few sectors however, their demand is likely to increase across many more verticals such as Airlines, Banking and Financial Services, Travel and Transport, Government, Healthcare, Consumer Electronics and Retail over the coming quarters.
The Indian companies are expanding their Biometric product portfolio as well as players are developing new Biometric devices. For instance, the recent integration of 3M Cogent’s MiY Biometric access control readers with Schneider Electric’s Andover Continuum in March, 2014 will enhance the Biometric access control product offerings.
Increasing use of Biometric data by the Government of India will further enhance the adoption of Biometric devices across the private sector. India Biometric Market is expected to witness promising growth in the authentication and advanced security systems. Biometric authentication has to be synchronized with the existing security systems in India which will help organizations to enhance security systems with higher efficiency and low cost. Further, apart from synchronization OEM also need to focus on strengthening the individual privacy in Multi-Modal Biometric devices.
The demand for Biometric devices is further expected to accelerate with the introduction of Biometric authentication systems in government pilot schemes such as Biometric cards in National Rural Employment Guarantee Act (NREGA). Additionally, Bank of Punjab has launched a new program to execute the auto disbursement subsidy through Biometric Cards.