Continued, strong growth is predicted for India’s biometrics market. A new report from BIS Research predicts that the market will grow at an annual rate of 16.47 percent between 2015 and 2020.
That reflects a jump from $823.46 million last year to an estimated $2.06 billion at the end of the forecast period. The unsurprising culprit behind the boom is the government sector, which has been a huge factor over the last few years as it has rolled out various biometric deployments, many of which are connected to its ambitious Aadhaar biometric ID registry. According to BSI, further digitization across the government sector should continue to push the market in this area; though recent legal impediments to the expansion of Aadhaar could put a damper on such forecasts.
Meanwhile, increasing concern over data security in the areas of consumer electronics and the BFSI sector will add to the market’s growth, while government-imposed time and attendance tracking systems will also add fuel to that fire. While this latter application is another area in which we’ve recently seen considerable resistance to the expansion of biometric systems, BIS is evidently sanguine about such concerns in its report, with government pushing the market forward until 2020, and consumer electronics expected to undergo high growth by the end of that year.
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October 13, 2015 – by Alex Perala
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