Growing technological advancements, increasing security concerns across various end user sectors and favorable government policy initiatives to drive india biometrics market
According to TechSci Research report, “India Biometrics Market By Type, By End Use Sector, Competition Forecast & Opportunities, 2016-2021”, the country’s biometrics market is projected to grow at a CAGR of around 31% during 2016 – 2021. Growth in the market is anticipated due to wide deployment of biometrics technology across various government projects such as Aadhaar program (UIDAI), coupled with issuance of e-passports and visas. Moreover, rising technological advancements across various end user sectors such as banking & finance, energy & power, consumer electronics, etc., is driving demand for biometric systems in the country. Rising number of ATMs, coupled with growing number of smartphone and internet users is also expected to have a huge positive impact on the country’s biometrics market during the forecast period. In 2015, number of smartphone and internet users grew by 36% and 24%, respectively.
As per the report, India’s top 10 State/UT wise Aadhaar enrollments by number of Aadhaar assigned, April 2016 are as under:
State/UT Numbers of Aadhaar Enrollments
Uttar Pradesh 149,640,062
Maharashtra 106,062,582
West Bengal 74,273,129
Bihar 67,904,075
Madhya Pradesh 64,981,428
Tamil Nadu 62,509,750
Rajasthan 58,048,422
Karnataka 54,916,052
Andhra Pradesh 49,989,892
Gujarat 48,658,019
Source: Unique Identification Authority of India, As on 30 Apr 2016
The release said that rising security concerns, increasing deployment of fingerprint, iris and voice recognition systems, coupled with execution of various mega government projects such as National ID cards, e-passports, e-visas, voting processes, etc., is also underpinning growth in India biometrics market. Additionally, growing consumer electronics sector is offering huge growth opportunities for integration of biometrics technology. South India dominates India biometrics market due to increasing industrialization and presence of various IT/ITeS and manufacturing industries in the region. Moreover, western region of the country is forecast to emerge as the fastest growing region for biometrics over the
next five years.
Karan Chechi, Research Director with TechSci Research said, “In addition to government projects, adoption of biometric systems across various end user sectors on account of their ability to provide accurate authentication to users, coupled with increasing number of online financial transactions is projected to drive growth in India biometrics market in the coming years. Moreover, rising instances of data breaches and identification frauds is driving demand for biometric technologies in India.”
