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Heightened Security Concerns Enhance the Market Prospects of Biometrics Finds Frost & Sullivan - New analysis from Frost & Sullivan, Indian Biometric Market, finds that the market earned revenues of INR 5.43 billion from the combined sale of biometric readers and cards in 2009 and estimates this to reach INR 52.55 billion in 2015
Heightened Security Concerns Enhance the Market Prospects of Biometrics Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mumbai, India, 2010/12/21 - New analysis from Frost & Sullivan, Indian Biometric Market, finds that the market earned revenues of INR 5.43 billion from the combined sale of biometric readers and cards in 2009 and estimates this to reach INR 52.55 billion in 2015.

   
 
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Biometrics is the fastest emerging technology in the Indian securities and identification market and is finding increasing application in various government and non-government applications such as driving license, e-passport, land records, as well as time and attendance. It is gradually gaining ground at the expense of conventional methods of identification and security checks such as physical checks, photo IDs, tokens, and passwords.

New analysis from Frost & Sullivan (autoid.frost.com), Indian Biometric Market, finds that the market earned revenues of INR 5.43 billion from the combined sale of biometric readers and cards in 2009 and estimates this to reach INR 52.55 billion in 2015.

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an e-mail to Caroline Lewis/ Nimisha Iyer, Corporate Communications, at caroline.lewis[.]frost.com / niyer[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.

"There is an increasing need to secure people, assets, information, and facilities by managing access control for authorized people," says Frost & Sullivan Research Analyst Sagarina Rai. "The Indian biometrics market is receiving a huge boost from large-scale government projects, increasing public awareness, and rising security concerns."

Owing to India’s large population, identifying oneself in the country is a major hurdle, especially in the rural areas. This has made a solid case for the use of biometrics in the interiors.

Furthermore, due to a rapidly rising economy, there has been a spurt in the need for safety and security solutions among organizations dealing with private and confidential data. The escalation in security threats has also spawned a need for authenticated physical access to building premises, creating vast opportunities for biometrics companies.

As the technology is bundled with the ability to record the time and attendance of employees, it has gained better acceptance across domains. Biometrics’ ability to provide high-tech security and access restriction by tracking and preventing fraud has also given it a leg up.

Despite the market’s potential, the poor awareness, lack of a unified standard for biometric readers, as well as inadequate expertise and investments are restraining the market. India has not yet started manufacturing biometric devices domestically because the sensors have to be imported. Owing to a surfeit of imports, the market is flooded with low-cost, low-quality devices. As these devices often fail to meet quality standards, customers’ confidence in the technology is fast eroding.

Nevertheless, the penetration of Internet and mobile services in far-flung areas has made novel technologies accessible to all.

"Further, technology upgrades have reduced the costs of biometric devices, popularizing it among all classes of users," notes Rai.

Indian Biometric Market is part of the Automatic Identification & Security Growth Partnership Services program, which also includes research in the following markets: Asia Pacific RTLS Markets, South East Asia and Australia New Zealand RFID Market, Asia Pacific Biometrics Market, Asia Pacific Profiles of Local Industry Participants and Physical Security among others. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

Indian Biometric Market / P46A

 
 
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Heightened Security Concerns Enhance the Market Prospects of Biometrics Finds Frost & Sullivan

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Contact: Caroline Lewis/ Nimisha Iyer 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Frost & Sullivan securities in any jurisdiction including any other companies listed or named in this release.

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