Global Security Puts Biometrics on Top

July 18, 2007: The biometrics industry is set to end up on top of increasing security concerns across the globe with a new report forecasting World biometrics sales to hit the US$6.48 billion mark by 2010.

According to Global Industry Analysts, Inc, major regions can expect to exhibit growths in excess of 30 percent over the next few years. Europe will be the fastest growing region for biometrics up to the year 2010, while the United State will continue to dominate with a forecasted 37.08 percent share in 2010.

It’s concerns ranging from identity theft to corporate security and national security driving the biometrics market. With biometric technology improving and getting cheaper, the security factors are pushing the industry to hit significant growth across all regions.

Global Industry Analysts believe it’s government initiatives through biometric systems at airports and other ports or entry, that will be key to industry growth. Facial recognition technology is leading the charge and looks set to outstrip all other biometric technologies, already holding a 33.69 percent share in 2006.

Small, medium and large technology players are attempting to get a hold of the market but the analysts predict the key differentiator between winners and losers to exist in the evolution of industry-wide standards. Price looks set to be the competitive factor and standards should help to reduce costs all round.

Global Industry Analysts covered a number of specific technologies in the report including Automated Fingerprint Identification Systems (AFIS,) Non-AFIS/Finger Scan, Hand Geometry, Iris and retinal scanners, Facial recognition, Voice recognition, Signature verification and Keystroke dynamics/Typing Rhythms.

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