With governments and corporates across the world adopting biometric
technologies, the global biometric market is on a new growth
trajectory. According to a new research report by RCNOS titled
“Global Biometric Forecast to 2012”, the global
biometric market is anticipated to grow at a CAGR of around 23
percent during 2011-13. The report explains prevalent market trends
and future scenario of the biometric market in different verticals,
technologies, and regions, underlining the future potential areas
and key issues crucial for the market development.
The report has also found that technologies, such as facial
recognition, fingerprint, AFIS, and Iris are anticipated to account
for around 84 percent of the global biometric market by 2013 end.
This is possible due to the growing acceptance of these
technologies in various civil and commercial applications including
financial sector, security, POS (Point of Sale), ATMs, border
security (passports and customer ID), etc.
Furthermore, financial services sector is set to emerge as one of
the most exciting markets for biometrics vendors. Vendors need to
adopt right pricing strategy and communicate the return on
investments effectively to take advantage of the burgeoning
opportunities for biometrics in the financial sector.
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