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Biometrics Intruding into Public, Private Sectors for Identity
Recognition
The global biometric market is estimated to have closed at nearly US$ 3
Billion in 2007, and is projected to grow at a CAGR of more than 20% by
2012, said "Global Biometric Forecast to 2012", a new research report by
RNCOS.
Over the last few years, biometrics has transformed in past few years from a
technology used in a narrow band of closed environment applications into
useful, feasible and fit-for-purpose tool used in various industries and
applications. Moreover, as the technology offers accurate, reliable and
cost-effective ways to improve security surveillance, the adoption of
biometrics in both private and public sectors globally has gone up
significantly.
According to the RNCOS research, rising security concerns, such as
individual identity theft, and corporate and national security, are the key
factors boosting growth of the biometric market. Thus, an increasing number
of countries are using biometrics to identify their citizens. Besides, new
anti-terrorist legislation in the US forced the government to mandate the
use of biometrics in visa and passport, resulting in drastic growth of the
global biometric market. Realizing the sensitivity of the issue of national
security, many other governments are also following the same.
With rising use of key biometric technologies like hand geometry, iris
technology and finger recognition by the government, the global biometric
market is expected to witness moderate growth in coming years, said the
report.
"Global Biometric Forecast to 2012" provides comprehensive information on
various biometric technologies as well as their rising applications in
different areas. It also contextualizes the role of technology in improving
the security of both private and public sectors. It highlights the countries
paying a great deal of attention to the application of biometric technology
across a wide range of industries.
In addition, the report thoroughly analyzes the global biometric market and
discusses its current and future scenario on the basis of regions. It
underlines the future potential areas and key issues critical for the
development of the market. The report also gives forecast on biometric by
technology, biometric by application and biometric by region.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. We are a
team of industry experts who analyze data collected from credible sources.
We provide industry insights and analysis that helps corporations to take
timely and accurate business decision in today's globally competitive
environment.
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