Friday, August 30, 2013: As per India Biometrics Market Forecast & Opportunities, 2018, the biometrics market in India is supposed to generate revenues to the tune of USD 2 Billion (Rs.10,000 Crore) by the year 2018.
There are a host of factors responsible for the growth of biometrics market in India such as absence of data protection, lack of proper border security, threat from terrorist, rising population and continuous changes in technology. But, there are a few challenges that should be overcome like rough hands, cataract problems, absence of innovation, implementation of biometrics at a grassroots level along with cost of production.
Demand for biometric systems in India is higher compared to most of the developed nations in the world. Benefits derived from the use of biometric technologies are rise in productivity, revenue, cash flow, etc. Apart from this, the initiative taken by the Government of India with respect to identity of citizens such as e-passports, national ID projects, UIDAI projects, employee benefit schemes is also contributing to rise in demand of biometric systems in India.
In addition to it, increasing government focus on smart safe city projects that entails deployment of advanced systems along with management solutions throughout various layers of a city’s infrastructure is meant to drive the sales of biometrics systems in India.
Leading players of the biometrics industry are Morpho (Safran) Group, 3M Cogent, NEC Corporation and BioEnable Technologies.
