NEWS: Biometric market grows in North America
Frost and Sullivan believes that the biometrics market will grow steadily, driven by national ID projects, e-Passports, and other security projects (don’t tell them about the UK, it could be catching).
New analysis from Frost & Sullivan, North American Biometrics Market, finds that the market earned revenues of $364.4 million in 2009 and estimates this to reach $1,588.6 million in 2016.
You get the feeling that the real driving force in the biometrics market is government, and that the global downturn is slowing growth.
Although the outlook for the market is bright, there are some impediments slowing its momentum. The economic slowdown had cast a shadow over the market, and the financial and consumer sectors felt its impact the most. In the government sector, projects were delayed; however, there were few cancellations.
But one of the problems is the sheer range of biometric technologies: fingerprints, iris scans, brain fingerprinting, DNA, skin printing and so on. This, however, could be turned to an advantage:
Strategic alliances and acquisitions will lead to deployment of multimodal technology,” says Sagar. “This multi-factor authentication will provide stronger security by collectively overcoming the limitations of individual technologies and contributing to the long-term growth of the biometrics market.
Neelima Sagar, Senior Research Analyst, Frost & Sullivan