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Time Attendance and Access Control are the Most Prominent Application Areas using Biometric Readers Notes Frost & Sullivan - Indian Biometric Readers market is expected to grow at a CAGR of 48 percent by 2016
Time Attendance and Access Control are the Most Prominent Application Areas using Biometric Readers Notes Frost & Sullivan

 

NewswireToday - /newswire/ - Mumbai, India, 2012/07/26 - Indian Biometric Readers market is expected to grow at a CAGR of 48 percent by 2016.

   
 
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Growing security concerns among private and Government organizations, greater demand for improvement in productivity and efficiency, various Government initiatives, technology acceptance and ease of usage is driving the adoption of Biometric readers in the market. The most prominent biometric implementation in India, both in volume and value terms, is the UIDAI project, worth USD 3.33 Billion, which will be co-implemented with the National Population Registry (NPR).

Time Attendance and Access Control are the most prominent application areas using biometric readers. Frost & Sullivan finds that the Indian Biometric Readers Market was valued at USD 50 million in 2011 and is likely to grow at a compound annual growth rate of 48 percent and reach USD 359 million by 2016.

According to Frost & Sullivan Analyst, Electronics & Security Practice,"The challenges faced by Biometric companies are issues in implementation including low level of integration capability of system integrators which leads to low market penetration of many technologies. Lack of standards and service support along with shortage of trained workforce, high cost of deployment is a deterrent for most small and medium sized companies. Overall, due to absence of reader manufacturing environment, a substantial number of readers are imported. Further, high cost of manufacturing sensors has alternatively fuelled the growth of assemblers in India."

A few key trends observed in this market were, fingerprint remained the preferred technology due to ease of usage. Market, which is still in nascent stage, is highly fragmented through the presence of traders, assemblers, and importers. However, market consolidation in the form of acquisition and partnerships is expected in future with the uptake of indigenous manufacturing of readers by 2013-2015.

Currently contract manufacturers play a very prominent role as most players outsource their manufacturing and concentrate on their marketing activities. In future, acquisition of these contract manufacturers by the bigger players is a huge possibility. In addition, most suppliers keen on indigenously manufacturing the readers by 2013-14, are in the preparatory mode through knowledge sharing with global manufacturers, and heightened R&D activities in the country.

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Time Attendance and Access Control are the Most Prominent Application Areas using Biometric Readers Notes Frost & Sullivan

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