The Global Market for Fingerprint Biometrics is Projected to Reach US$11.9 Billion by 2020
Growing Biometric Investments in
Government & Enterprise Sectors to Drive the Global Fingerprint Biometrics
Market, According to a New Report by Global
Industry Analysts, Inc.
GIA
announces the release of a comprehensive global report on Fingerprint
Biometrics. The
global market for Fingerprint Biometrics is projected to reach US$11.9 billion
by 2020, driven by growing biometric investments in government and
enterprise sectors to support e-Governance, national/civil ID, e-passports, law
enforcement, and access control and user authentication applications.
Fingerprint
Biometrics, also known as Fingerprint Identification Technology, is one of the
oldest and widely used biometric technologies. Using fingerprint pattern of
ridges, lines, and valleys, which are unique to each individual represents one
of the most reliable among biometric technologies. Fingerprint technology,
besides being widely adopted for forensic investigations, is also used for
other applications such as e-Governance, national/civil ID, e-passports, law
enforcement, and immigration & border management applications. The
increasing deployment of access control systems by building owners is further creating
a strong business case for fingerprint identification technology.
Use
of fingerprint biometrics for National/Civil ID, specifically Automated
Fingerprint Identification Systems (AFIS) will continue to foster growth in the
market. Increasing government spending on national security measures also
creates significant demand for fingerprint identification. Additionally, AFIS
continues to gain traction in the enterprise sector with commercial
establishments showing keen interest on using this technology for various
security related functions such as physical and logical access control. Non
automated FIS is finding increased adoption in the business segment. Government
regulations mandating stringent security measures to be in place for key
commercial centers such as office buildings, malls, hospitality and healthcare
facilities are adding to the market demand for non automated FIS fingerprint
biometrics.
Smartphones
have emerged as the new frontier of growth for fingerprint biometrics. The
significant increase in the adoption of biometric technologies in smartphones is
largely due to factors such as growing concerns over data integrity and
security among mobile users, rising popularity of mobile wallet concept for
accomplishing banking and financial transactions, and move towards mobile cloud
computing. Taking fingerprint technology to the next level in terms of
precision, 3D biometrics has become an important area of research and
development. With frequent outbreaks of infectious diseases emerging into a
major public health hazard, contactless fingerprint systems are poised to
witness sturdy gains.
As
stated by the new market research report on Fingerprint Biometrics, the United States
continues to remain the largest market worldwide. The Middle East is forecast
to emerge as the fastest growing market with a CAGR of 14.5% over the analysis
period. Growth in the region will be driven by growing social and political
unrest and the ensuing increased focus on airport and border control processes.
Non-AFIS Fingerprint Biometrics represents the fastest growing product
segment with sales waxing at a CAGR 12.7% over the analysis period.
Major
players in the global marketplace include 3M Cogent, BIO-key International
Inc., Cross Match Technologies Inc., DERMALOG Identification Systems GmbH,
Fingerprint Cards AB, Fulcrum Biometrics LLC, IDEX ASA, NEC Corporation of
America, Precise Biometrics AB, Safran S.A., SecuGen Corporation, Suprema Inc.,
Synaptics, and TSSI Systems Ltd. among others.
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