India Biometrics Market- Industry Structure Evaluation, Demand Drivers Analysis, Growth Analysis and Identification, Competitive Positioning Review & Market Size Forecast to 2032
Overview
India Biometrics Market is anticipated to reach US$ 5.8 Bn by 2027 from US$ 13.42 Bn in 2021 at a CAGR of 15 % during a forecast period.
Biometrics refers to a diverse group of technologies for measuring and analysing human bodily features such as fingerprints, irises and retinas, speech and facial patterns for verification. Over the last five years, India has experienced a significant increase in the adoption of biometrics technology. In addition to fingerprint recognition, the most popular and widely used biometric authentication technology, other biometric authentication methods are rapidly gaining popularity in the country as the demand for data security in many industries grows. The usage of biometric technology has been greatly boosted by government efforts such as the issue of e-passports, the rise of e-banking, and the use of biometric technologies for identity and verification reasons in visas.
To know about the Research Methodology :- Request Free Sample Report
In the report, 2021 is considered a base year however 2021’s numbers are on the real output of the companies in the market. Special attention is given to 2021 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and a specific strategic analysis of those companies is done in the report.
India Biometrics Market Dynamics
Biometrics is expected to expand rapidly in India due to the widespread usage of biometric devices in both the public and private sectors. Biometric devices are now required for improved organization performance due to the necessity for increased security and authentication of access to private data.
The report finds that the growth of the e-passport program, government support, biometrics in smartphones, use of biometric technology in banking and healthcare, extensive use in criminal identification, use of biometric technologies in election administration, and the growing need for large-scale supervision at public meetings are the major drivers for the face and voice biometrics market.
In recent years, biometric solutions have seen tremendous technological advancements. Advances in sensing technology, as well as the ubiquitous usage of devices like computers and cellphones, have opened up new possibilities for recording physiological and behavioral characteristics of humans and analyzing associated data for biometric authentication.
Biometric systems backed by machine learning and artificial intelligence technologies are giving new possibilities for successfully identifying any anomalous behavior and providing an additional layer of authentication if needed. To avoid data breaches, biometric systems with multi-factor authentication are gaining momentum. The growing demand for contactless systems and expanding application areas motivate biometric system manufacturers to spend on R&D to increase their offering of advanced biometric systems.
Restraints: The complex biometric system requires a significant amount of money to develop, manufacture, install, maintain, and transport. More advanced biometric technologies need to be upgraded raw materials and subcomponents, resulting in increased costs. Users are responsible for the expenses of shipping, installation, and preventative maintenance. As a result, the biometric system market's growth is hampered by the necessity for large capital investments.
India Biometrics Market Segmentation Analysis
In 2021, the government vertical segment dominated the Indian biometric system market. Biometrics aids in the elimination of corruption through different government-implemented large-scale identification schemes, such as biometric civic IDs. Through biometric identification, government subsidies, refunds, and incentives such as rations and others may be conveniently delivered to eligible residents while preventing any potential system loopholes. Biometric technologies are frequently used by government entities to validate identity across international borders.
Report Objectives:
• Landscape analysis of the India Biometrics Market
• competitive benchmarking
• Past and current status of the industry with the forecasted market size and trends
• Evaluation of potential key players that include market leaders, followers, and new entrants
• Technology trends
• The potential impact of micro-economic factors on the market
• External and Internal factors affecting the market have been analyzed
The report also helps in understanding the India Biometrics Market dynamics, and structure by analyzing the market segments to project the India Biometrics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Indian Airbag Market make the report investor’s guide.
India Biometrics Market Scope: Inquiry Before Buying
| India Biometrics Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2021 | Forecast Period: | 2022-2027 |
| Historical Data: | 2017 to 2021 | Market Size in 2021: | US $ 5.8 Bn. |
| Forecast Period 2022 to 2027 CAGR: | 15 % | Market Size in 2027: | US $ 13.42 Bn. |
| Segments Covered: | by Technology | • Face Recognition • Hand Geometry • Voice Recognition • Signature recognition • Iris recognition • AFIS • Non-AFIS • Others |
|
| by Functionality | • Contact • Non-contact • Combined |
||
| by Authentication | • Single-Factor Authentication • Multifactor Authentication |
||
| by Component | • Hardware • Software |
||
| by End-User | • Government • Defense Services • Banking and Finance • Consumer Electronics • Healthcare • Commercial Safety and Security • Transport/Visa/Logistics • Others |
||
India Biometrics Market by Region
• North America
• Asia pacific
• Europe
• The Middle East and Africa
• South America
India Biometrics Market: Key Players
• IDEMIA
• Secu Gen India Pvt.Ltd
• NEC India Pvt. Ltd
• 4G Identity Solutions Pvt.Ltd
• HID India Private Limited
• eSSL Security
• 3M India Ltd
• Honeywell Automation India Ltd
• Zicom Electronic Security Systems Ltd
• Matrix Comsec Pvt. Ltd
• Mantra Softech (India) Pvt. Limited
• AutoID Systems
• Bioenable Technologies Pvt. Limited
Frequently Asked Questions
1. What is the projected market size & growth rate of the India Biometrics Market?
Ans- India Biometrics Market was valued at USD 5.8 billion in 2021 and is projected to reach USD 13.42 billion by 2027, growing at a CAGR of 15 % during the forecast period.
2. What are the key driving factors for the growth of the India Biometrics Market?
Ans- Biometrics is expected to expand rapidly in India due to the widespread usage of biometric devices in both the public and private sectors.
3. Which Region accounted for the largest India Biometrics Market share?
Ans- West region of India accounted for the largest market share in 2021.
4. What are the top players operating in India Biometrics Market?
Ans- IDEMIA, SecuGen India Pvt.Ltd, NEC India Pvt. Ltd, 4G Identity Solutions Pvt.Ltd, and HID India Private Limited.