The Indian Biometrics market reached a value of US$ 1.7 Billion in 2018. Biometrics is the process using which an individual’s unique physical and other traits can be recorded by an electronic device as a way to confirm identity. The market for biometrics in India has witnessed strong growth in recent years as a result of its increasing adoption across both government and private sectors. Consumers are increasingly adopting various biometric means such as fingerprint, facial, and voice recognition, to verify their identity as well as to make payments. The Indian government is also adopting biometric technologies for identification and verification of individuals in various e-Governance applications such as UIDAI (Aadhar), E-Passport, RSBY (Rashtriya Swasthya Bima Yojna), Driving License, etc. Some of the other factors driving the Indian biometrics market include rising number of smart phone users, improving internet connectivity, increasing security concerns, etc. Looking forward, we expect the Indian biometrics market to grow at a CAGR of around 15% during 2019-2024 reaching a value of over US$ 3.8 Billion by 2024.
The report has also analysed the competitive landscape of the market with some of the key players being IDEMIA, SecuGen India Pvt. Ltd, NEC India Pvt. Ltd., 4G Identity Solutions Pvt. Ltd., HID India Private Limited., eSSL Security, 3M India Ltd, Honeywell Automation India Ltd., Zicom Electronic Security Systems Ltd., Matrix Comsec Pvt. Ltd., etc.
Key Questions Answered in This Report:
This report provides a deep insight into the Indian biometrics market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for biometrics manufacturers, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian biometrics market in any manner.
Report Customization: Although IMARC has tried to cover everything in the biometrics market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.
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