6Wresearch announces the release of exhaustive and detailed “Global Biometrics Market (2014-2020)” report covering technologies, regions, countries and applications. The report estimates and forecast market by technologies such as Fingerprint, Face, IRIS, Hand/ Palm-Print, Voice, Vein, Keystroke Dynamics, DNA, GAIT and Multimodal biometrics. The report consist regions such as North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa and further has been divided into countries including Canada, United States, Brazil, Mexico, Argentina, Colombia, Germany, United Kingdom, France, Italy, Spain, Russia, China, India, Japan, South Korea, Indonesia, Australia, Saudi Arabia, UAE, Turkey, Israel, Egypt, South Africa and Nigeria. The report also segregates market into time & attendance systems, access control systems and identity solutions based biometric systems by various technologies.
Africa’s biometrics market is in the nascent stage. Lack of awareness and lower security & IT spending are the key factors that have restricted the adoption of biometrics devices in the African region. Countries such as South Africa and Nigeria are the key revenue generating countries in African biometrics market.
South Africa biometrics market growth is buoyed by several factors such as government’s initiation for biometric based projects, increasing government spending and IT security markets. Additionally, increasing crimes rates in the country have also driven the need for biometric systems in the country. South Africa’s IT spending is estimated to reach $11.4 billion in 2014, growing at over 10%, which is expected to spur the market for biometrics technologies in commercial application specially. In South Africa’s biometrics market, fingerprint biometrics technology leads and is expected to maintain its dominance in the overall market.
In the forecast period, the share of African region is expected to increase on account of increasing IT security spending, government investments and growing demand for low price fingerprint biometrics systems. South Africa, Nigeria and Algeria would be the major countries procuring fingerprint biometrics systems for various applications. In addition, government & transportation application is exhibited as major revenue generating application owing to introduction of national ID and biometrics based passports.
According to 6Wresearch, Global Biometrics Market is projected to reach $21.9 billion by 2020. Fingerprint biometrics technology based systems have generated significant revenues owing to low cost and ease of usage. However, in the forecast period, share of fingerprint biometrics technology is expected to decline due to growth of face, iris, vein and multi-modal biometrics systems. Need for higher accuracy and reliability has resulted into the adoption of these biometrics technologies.
Amongst all applications, government & transportation application has captured major share of pie in overall global biometrics market. Increasing national ID projects, e-passports & visas, biometrics technology enabled driving license, and several other government projects across the globe have led for this application dominance. Consumer electronics application is the fastest growing application in the global biometrics market. Increasing penetration of smart devices such as smartphones and tablet PCs in the global market is witnessed as major driving factor, where biometrics technologies especially fingerprint is used for authenticating the individuals over these devices to restrict unwanted access. Also, fingerprint biometrics technology in smart devices would be used to verify individuals at payment gateways in financial transactions.
The key companies in global biometrics market include- Morpho Safran, 3M Cogent, NEC, Suprema, Nuance, Hitachi, Crossmatch Technologies, Iris ID, ZK Technologies and others.