Decreasing Costs of Biometric Systems and Increasing Security Concerns - The Biometrics Market is Witnessing High Double-Ddigit Growth Rates Across all Regions

    A few countries have already rolled out biometric systems at airports and other ports of entry to check flow of illegal immigrants into their respective territories. Government initiatives could emerge as the key to driving growth of biometrics. Intensified security concerns ranging from individual identity theft, and corporate security, to national security are controlling the biometrics market. Due to this and to the diminishing costs of biometric systems, the market is witnessing high double-digit growth rates across all zones. On the technological front, non-contact systems could emerge as the answer to expel inhibitions exhibited by users. Development of industry-wide standards has been started by some industry groups, which would lead to lower costs and enable easier adoption of present and emerging technologies. Barring a few large corporations such as Motorola, and Siemens, a large number of small companies are active in the industry. As the industry reaches critical mass, larger technology companies would evince interest in the industry, bringing with them scale, and technological expertise, and mergers and acquisitions would be the ideal way for entering the market.

    For example, major competitors profiled include AuthenTec, Inc., BIO-key International, Inc.,  3M-AiT, Ltd., A4Vision, AcSys Biometrics Corp., Biometric Access Corporation, Biometric Security Limited, Bioscrypt Inc., Cogent Systems, Communication Intelligence Corporation, L-1 Identity Solutions, Inc., Motorola, NEC Corporation of America, Precise Biometrics, Diaphonics Inc., Fujitsu Microelectronics America, SAFLINK Corporation, SAGEM Defense Securite, Sensory Inc., Siemens AG, TSSI, Veridicom, Inc. and Visiphor Corporation. Technology segments covered in the report include Automated Fingerprint Identification Systems (AFIS), Non-AFIS/Finger Scan, Hand Geometry, Iris/Retinal Scan, Facial Recognition, Voice Recognition, Signature Verification and Keystroke Dynamics/Typing Rhythms.

    If we look at the big image, evolution of industry-wide standards would result in reduction of prices, and price is expected to emerge as the major competitive element. Technological superiority, and to an extent, marketing prowess would be the key differentiator between the winners and losers in the short term. Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. The company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

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