South region is expected to Register High CAGR in India Biometrics Market in the Forecast Period 2024-2028
Rising demand for cloud-based authentication software would boost the India Biometrics market from
2024-2028.
According to TechSci
Research report, “India Biometrics Market - By Region, Competition,
Forecast and Opportunities, 2028F,” the India Biometrics market is anticipated
to register a robust growth during the forecast period 2024-2028. The market is expanding due
to rising adoption of cutting-edge technology and growing consumer concern over
the security and safety of data. The use of biometrics is increasing
significantly in both the public and private sectors as biometrics have a wide
variety of application which requires reliable personal recognition schemes to
either confirm or determine the identity of an individual requesting their
services.
Among all the major
biometrics solutions, facial recognition system is being implemented in many
national and multinational organizations for the time and attendance management
of staff to monitor their working hours and manage productivity. Access control
through facial recognition provides a robust and secure environment in
workplaces, preventing unauthorized access and data theft. The factor is
expected to drive the biometrics market in India during the forecast period.
For instance,
- Tech Mahindra
implemented a facial recognition system at its Noida office in July 2018 to
track employee attendance.
- The Ministry of Civil
Aviation has launched Digi Yatra program, under which Bengaluru, Hyderabad,
Kolkata, Varanasi, Pune, and Vijayawada airports to equipped with facial
recognition system. As part of this program, Hyderabad airport successfully
launched facial recognition trial in April 2019.
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Figures spread through XX Pages and an in-depth TOC on the "India Biometrics Market”
The India biometrics market is segmented into solution type,
functionality type, end-use industry, and region.
Revenue was significantly boosted in 2022 by the facial recognition
market. As facial recognition algorithms get better at authorizing, facial
recognition technology is being used for more and better things. Face
recognition technology is used by social media sites to organize photos, by
airports to speed up security screening, by smartphones to log in, and by law
enforcement to solve crimes. Because of huge presence of IT/ITeS and
manufacturing facilities coupled with rising industrialization, the country’s
southern region accounted for the largest share in India in 2022. However, it
is anticipated that the country’s western region would emerge as the fastest
growing region during the forecast period, owing to increasing number of
government initiatives aimed at providing enhanced security & protection in
cities like Mumbai and Surat. There has been an increase in the integration of
fingerprint recognition systems across various end user sectors over the past
few years, predominantly due to its low cost and easy deployment.
Governments across major cities in the southern region have implemented
facial recognition systems for local police, schools, and commercial estates.
For instance, paperless travel using facial recognition systems are set to be
implemented at Bengaluru and Hyderabad airports by the end of 2019. Moreover,
people in South India are more aware than people in other regions, owing to
high literacy rate in South Indian states such as Kerala, Karnataka, etc. Thus,
Panasonic is recommended to target South region owing to the vast potential of
this region in face matching and authentication software market. Major
companies are developing advanced technologies and launching new products to
stay competitive in the market.
Major players operating in India
Biometrics market include:
- IDEMIA Identity
& Security India Private Limited
- SecuGen India Pvt.
Limited
- NEC India Pvt.
Limited
- 4G Identity
Solutions Pvt. Limited
- HID India Private
Limited
- eSSL Security
- 3M India Limited
- Honeywell
Automation India Limited
- Zicom Electronic
Security Systems Limited
- Mantra Softech
(India) Pvt. Limited
- AutoID Systems
- BioEnable
Technologies Pvt. Limited.
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“India Biometrics Market is anticipated to grow at a
steady pace during the forecast period. However, the market saw a decline in
the Y-o-Y growth due to the COVID-19 pandemic all over the globe, but the
factors like worldwide adoption of digital revolution and mandatory digital
identity law reforms, increasing concerns over security, rising industrial
spending, increasing R&D, change in attitude of consumers, among others,
are anticipated to propel the demand for biometrics across the country over the
next five years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India
Biometrics Market By Solution Type (Fingerprint Recognition, Facial
Recognition, Iris Scanner, Hand/Palm Recognition, Voice Recognition, Vein
Scanner, Others), By Functionality Type (Contact Based, Contact Less, Hybrid),
By End-Use Industry (Government and Defense, BFSI, Consumer Electronics, IT and
Telecom, Healthcare and Lifesciences, Retail and E-commerce, Others), By
Region, Competition Forecast and Opportunities, 2028F” has evaluated the future
growth potential of India Biometrics market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Biometrics market.
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