Report points to biometrics among top growth market
16 March, 2011
category: Biometrics, Financial, Government
Research and Markets has released a report forecasting the global biometric market through 2012. The report points out that the biometric market place will continue to benefit, due to technological and performance developments, wide spread adoption and acceptance, standards development and is expected to continue its growth through to 2013 at a compound annual growth rate of 23%.
Among some of the specific drivers mentioned in the report are various government programs designed to benefit either national defense programs or identity card programs as well as an increase in commercial adoption in cases such as remote transactions and e-commerce.
Additionally, the report explains that facial recognition, fingerprint, iris recognition and automated fingerprint identification systems are leading the way in terms of biometric modes with high acceptance rates and, subsequently, making up 80% of the marketplace.