Research and Markets has added Frost & Sullivan's new report "World Biometrics Market" to their offering.
The study provides an analysis of key drivers and restraints influencing the adoption of biometrics technologies across the world. It includes market sizing and forecasts by criminal and civil biometrics. A separate chapter is dedicated to analyzing trends by each biometrics technology. Forecasts and contribution from various verticals such as government, healthcare and finance have been analyzed across various regions including Americas, Europe, Middle East, Africa and Asia Pacific. In addition, the regional analysis includes analysis by various biometric technologies and by various applications. Additional discussion areas include emerging technologies, current and potential biometrics projects, competition and end-user requirements.
Although biometrics face numerous privacy issues, successful large-scale government adoptions have helped the technology emerge as among the most viable means to counter identity-related issues. Its reliability, coupled with further decline in prices, is poised to open up rewarding market opportunities for biometrics vendors. Performance improvements and growing integration with other sensor technologies set to increase awareness and position biometrics as reliable systems. Biometrics vendors have made great strides towards minimizing false acceptance and rejection rates, thereby eliminating costly mistakes resulting from false identification. To further increase reliability, vendors have integrated multiple biometric technologies in their systems, thereby offering a layered approach to security.
Governments worldwide are clear forerunners in regulating, implementing and benefitting from the adoption of biometrics to tackle the growing identity and immigration issues. Following the successes of such large-scale installations, biometrics is making its way into more regulated industries such as healthcare, finance and transport applications.
Although more resilient, a weak economic climate in 2009, combined with budget freeze and longer sales cycle, resulted in end users postponing investment decisions. Moreover, end users have been sceptical about making investment commitments due to high-associated costs and the perceived intrusive nature of biometrics.
The potential dangers of a compromised biometrics, strong cultural and political influences and low awareness about its benefits have made end users adopt a wait-and-watch approach towards biometrics. Educating end users on the benefits outweighing the costs and overcoming the perception of the technology being intrusive is crucial for success in this market. Further technological advancements enabling people to retain their biometric template could prove effective in addressing privacy issues.