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TMCNet:  Fingerprint Biometrics Market - Global Forecasts and Opportunity Assessment by Technavio

[July 12, 2017]

Fingerprint Biometrics Market - Global Forecasts and Opportunity Assessment by Technavio

According to the latest market study released by Technavio, the global fingerprint biometrics market is expected to grow at a CAGR of nearly 12% during the forecast period.

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Technavio has published a new report on the global fingerprint biometrics market from 2017-2021. (Gr ...

Technavio has published a new report on the global fingerprint biometrics market from 2017-2021. (Graphic: Business Wire)

This research report titled 'Global Fingerprint Biometrics Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

One of the major reasons for the growth of this market is the increasing need for secure authentication, especially in government projects. The rise in crime rates and the use of sophisticated technologies in thefts have increased the need for fingerprint biometrics. In addition, the need for investigation and verification of individuals has increased because of the recurring criminal activities.

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Technavio's analysts categorize the global fingerprint biometrics market into six major segments by end user. They are:

  • Government
  • Transit
  • Healthcare
  • BFSI
  • Retail
  • Others

Looking for more information on this market? Request a free sample report

Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

The top three revenue-generating end-user segments for the global finger biometrics market are discussed below:

Global fingerprint biometrics market in government sector

The government sector has adopted the fingerprint biometric technology due to the rising incidences of violent activities and intrusions in the past. In 2014, the fingerprint technology was widely adopted because of the low cost of hardware systems. Moreover, the adoption of fingerprint technology is increasing due to the increasing adoption of mobile biometrics in the government sector for law enforcement.

According to Amrita Choudhury, an industry expert in IT security from Technavio, "The need to track employees and government initiatives, such as e-passports, border control programs, and e-governance, are fostering the growth of the market. For instance, the FBI of the US Department of Justice is using fingerprint technology for law enforcement in the region."

Global fingerprint biometrics market in transit sector

The fingerprint biometrics market in the transit sector is experiencing a revenue growth due to a rise in the implementation of fingerprint biometric technology for cross-border programs at various airports and seaports. Several immigration counters have integrated fingerprint recognition technology to enhance passenger verification, increase workforce efficiency, and reduce queuing up at counters.

"Some countries, such as Indonesia, Malaysia, Singapore, and Thailand, use fingerprint biometric technology for border entry control. The US government has embedded a chip in the passport and visa documents that contain fingerprint scan, photograph, and a digitized signature, which will help in authentication of the individual," says Amrita.

Global fingerprint biometrics market in healthcare sector

The implementation of stringent regulations, such as Health Insurance Portability and Accountability Act (HIPAA), for maintaining patient privacy has led to the growth of the market revenue for fingerprint biometrics. Additionally, fingerprint recognition is being used as an option to ID cards to track time and attendance of employees. Fingerprint biometrics is also being integrated into mobile devices, used by doctors for remote access to patient's records.

For instance, Arizona's Children's Clinics for Rehabilitative Services, which was previously using PINs and passwords has implemented Crossmatch's data protection and access software. This software prevents unauthorized access to patient records.

The top vendors highlighted by Technavio's research analysts in this report are:

  • Gemalto (News - Alert)
  • BIO-key International
  • Crossmatch
  • HID Global
  • M2SYS Technology
  • NEC (News - Alert)
  • OT-Morpho

Browse Related Reports:

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.


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