Report: Financial, Healthcare Sectors Will Help Drive Use Of Biometrics

Biometrics is seeing rapid adoption in public and private sectors worldwide as an accurate, reliable and cost-saving way to offer better and advanced security surveillance.

In the past few years, the biometrics  has developed from a new technology used in a narrow band of closed-environment applications to a useful, practical, fit-for-purpose tool used across a range of industries and in a wide variety of applications.

Along with the governments across the world, a growing number of financial services firms are also considering the use of biometric technology strongly as a more efficient and secure method of identifying its potential customers, according to “Global Biometric Forecast to 2012,” a recently released report from Research and Markets.

Key Research Highlights:

  • Propelled by several regulatory compliances and mandates, the global biometric market is expected to grow at a CAGR of more than 20 percent through 2012.
  • Biometric technologies like facial recognition, fingerprint, AFIS and iris are anticipated to account for more than 80 percent of the global biometric market by 2012.
  • Iris recognition technology is projected to grow at a CAGR of nearly 36 percent from 2008 to 2012 followed by hand geometry, voice recognition and face recognition.
  • Financial and healthcare sectors are likely to emerge as the major technology consumers over the forecast period with future CAGR pegged at around 45 percent and over 31 percent respectively.
  • North America and Asia-Pacific together are expected to account for nearly 55 percent of the global biometric market by 2012.
  • The global biometric market offers huge scope for devices/peripheral manufacturers and software developers to offer better quality services at affordable price in order to serve mass market.

If you like what you see, get more delivered to your inbox weekly.
Click here to subscribe to our free premium content.

comments powered by Disqus
  • Environmental Protection
  • Occupational Health & Safety
  • Infrastructure Solutions Group
  • School Planning & Managmenet
  • College Planning & Management
  • Campus Security & Life Safety