Thursday, August 30, 2014: Domestic Biometrics market, Fingerprint and IRIS scanner market registered an annual shipment of more than 350,000 units for the year ending June 2014, stated 6Wresearch in its annual report.
Single-Modal Biometric devices captured around 74 per cent share of the entire local biometrics market. 3M Cogent led the market followed by ESSL.
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.
