Biometrics systems are emerging as one of the fastest growing electronic security systems in India. Increasing security concerns, data thefts, government initiatives and need for advanced security solutions have propelled the demand for biometrics technologies in the country. Amongst all available biometrics technologies, fingerprint biometrics technology has generated majority of the market revenues in India’s biometrics market. Ease of usage, low cost and user friendliness are the key factors which have led for the growth of fingerprint biometrics technology in India.
According to 6Wresearch, India’s Fingerprint Biometrics Market is projected to grow at a CAGR of 35.1% during 2014-20. The growth of fingerprint biometrics technology is primarily driven by government, travel & transportation application, where projects such as Aadhaar, e-driving license, MNREGA, rations cards, and e-passports have witnessed majority of the market adoption. ‘Aadhaar’ is one of the largest biometric national identification programs in the world. Until June 2014, around 460 million citizens have been enrolled and more than 550 million is estimated to be covered under this program by end of 2014.
Though, in overall fingerprint biometrics market, government, travel & transportation application captured lion’s share, but in the forecast period its share is likely to decline, owing to increasing penetration and adoption in other application markets such as healthcare, banking & financial, retail and commercial offices.
Southern region has generated majority of the market revenues, mainly due to government run biometric programs such as Aadhaar, biometric smart cards for fishermen & ancillary workers, e-Shakti, and higher demand for both time & attendance and access control systems at commercial offices.
India predominantly imports biometric devices from countries such as China, Taiwan, Korea, France, and US or assembles these devices at their local manufacturing facilities. Biometrics players have either established their sales offices or have partnered with local distributors to supply their respective systems.
In the forecast period, as the demand for these devices witnesses robust growth, manufacturing or assembling is likely to be expected on higher scale in the country. Domestic manufacturing would also lead to declining of the prices, thereby fueling the penetration of fingerprint biometrics systems across various applications.
The report, “India Fingerprint Biometrics Market (2014-2020)” estimates and forecast, overall India biometrics market by revenue & volume, fingerprint biometrics market by revenue, volume, application such as government, travel & transportation, banking & finance, healthcare, retail, commercial offices and others, and regions such as North, South, East, West, North-East and Central. The report also gives the insights on competitive landscape, market share, product matrix, price point analysis, competitive benchmarking & positioning, latest market trends, drivers, restraints and opportunities.