Fingerprint identification market in China is anticipated to grow at the compound annual growth rate of around 38 percent, reaching up by six folds revenue by the end of 2018, according to a recent China Research and Intelligence (CRI) report.
Increasing security concerns, lack of data protection and mounting cyber crimes in China is raising the demand for biometric solutions, The biometric solutions are been adopted by various government agencies and corporate to suppress security concerns. The installation of biometric solutions has been proved prolific in streamlining the production, cash flow and eventually enhancing the revenues. Fingerprint identification market captures the highest market share in China biometrics market in terms of revenue earned during 2012, which can be mainly attributed to its economical pricing and maximum usage in access control and time and attendance systems applications. China has also declared about implementation of its national ID project across country by 2013 which will give the much awaited thrust to the industry.
Anhui, Shandong and Shanghai are the leading provinces of eastern region, generating highest revenue in biometrics market when compared with other regions in the country. One of the other large biometric projects is e-passports, which is primarily to be implemented in Shaanxi province in northern region and would act as the main growth driver for biometrics market in the next five years. The major players of biometrics industry in China are Zk Technology, Ingersoll Rand, Rosslare Security, Zks Group and Suprema.
The report "China Biometrics Market Forecast & Opportunities, 2018” discusses the following aspects of biometrics market in China: