Press release
India Biometrics Market is anticipated to reach USD 5.8 Bn by 2027 from USD 13.42 Bn in 2021 at a CAGR of 15 % during a forecast period
India Biometrics Market
Biometrics technology, encompassing diverse techniques for analyzing human bodily features such as fingerprints, irises, speech, and facial patterns for verification, has gained substantial traction in India over the past five years. Beyond the widely adopted fingerprint recognition, other biometric authentication methods are witnessing a surge in popularity due to increasing demand for data security across various industries. The adoption of biometric technology has been catalyzed by government initiatives such as e-passports, the expansion of e-banking, and the use of biometric technologies for identity verification in visas.
The report, based on the year 2021 as a baseline, provides an insightful analysis of the India Biometrics Market. It includes a thorough examination of the market's performance amidst the lockdown scenario, analyzing the demand and supply dynamics, and forecasting the impact of lockdown measures on the market over the next two years. The report also delves into the strategic analysis of companies that performed well during the lockdown.
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India Biometrics Market Dynamics:
The report identifies several key drivers propelling the growth of the biometrics market in India. These drivers include the expansion of the e-passport program, governmental support, integration of biometrics in smartphones, adoption of biometric technology in banking and healthcare, widespread use in criminal identification, application of biometric technologies in election administration, and the rising need for large-scale supervision in public gatherings.
While the growth prospects for the biometrics market are promising, there are challenges to overcome. The development, manufacturing, installation, maintenance, and transportation of complex biometric systems require substantial investment. The adoption of advanced biometric technologies necessitates upgraded raw materials and components, leading to increased costs. Moreover, users are responsible for expenses related to shipping, installation, and maintenance, hampering the market's growth due to capital investment requirements.
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India Biometrics Market Segmentation:
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
The Indian biometric system market was dominated by the government vertical segment in 2021. Through various large-scale identification programs undertaken by the government, like biometric civic IDs, biometrics aids in the eradication of corruption. Government benefits like rations, rebates, and incentives can be easily supplied to qualified citizens with biometric identification while preventing any potential system flaws. Government organizations routinely employ biometric technologies to verify identity across international borders.
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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
Table of content for the India Biometrics Market includes:
1. Global India Biometrics Market: Research Methodology
2. Global India Biometrics Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global India Biometrics Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global India Biometrics Market Segmentation
• Global India Biometrics Market, by Technology (2022-2029)
• Global India Biometrics Market, by Functionality (2022-2029)
• Global India Biometrics Market, by Authentication(2022-2029)
• Regional India Biometrics Market, by Component (2022-2029)
• Regional India Biometrics Market, by End-User (2022-2029)
5. Regional India Biometrics Market (2022-2029)
• Regional India Biometrics Market, by Technology (2022-2029)
• Regional India Biometrics Market, by Functionality (2022-2029)
• Regional India Biometrics Market, by Authentication(2022-2029)
• Regional India Biometrics Market, by Component (2022-2029)
• Regional India Biometrics Market, by End-User (2022-2029)
• Regional India Biometrics Market, by Country (2022-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
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Regional Insights:
The report highlights the dominance of the government vertical segment in the Indian biometric system market. The use of biometrics in government-driven identification schemes, such as biometric civic IDs, contributes to eliminating corruption and enhancing the delivery of government subsidies and incentives to eligible citizens.
Key Offerings:
• Past Market Size and Competitive Landscape (2017 to 2021)
• Past Pricing and price curve by region (2017 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2021-2027
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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