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.
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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.
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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.
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Major players operating in India Biometrics market include:
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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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