Global biometrics market is anticipated to reach USD 20 Billion by 2018

Global Biometrics Market is Well Poised to Cross USD 20 Billion by 2018 Says TechSci Research (Press Release via Digital Journal)

The major share in biometrics technology has been figuratively captured by fingerprint recognition technology (AFIS & Non-AFIS). However, with the emergence of a lot of companies in this sector such as “Fujitsu Ltd” the market is poised for a stiff competition.

The government organizations have been the leading contributor to the industry which is anticipated to continue leading the market. In addition to that, large corporates have adopted biometric for logical as well as access control applications to increase the trust among their customers and employees.

Asia is anticipated to overtake North America by 2018 on account of huge growth in security market in the countries such as China and India. With the increasing IT security spending and growing government project in China, Indonesia, India and others will spur the demand for biometric systems.

Logical access control applications are growing rapidly with the increase in computer hardware and Internet. In addition, vein recognition technology is growing rapidly due to advancement in security management. Also, with the introduction of multimodal biometrics, the market is expected to touch new heights in the coming years.