Global Biometric Industry to Witness Remarkable Growth

Delhi, India India (PressExposure) November 02, 2007 -- The leading market research company RNCOS has recently published a report "Global Biometric Market - New Opportunities (2007-2010)" on the global biometric industry which anticipates that the global biometric industry would grow at a CAGR of over 24% between 2007 and 2010.

The report says that the biometric industry is driven by the increasing threat to the global security, desire for personal security, and the arrival of new technologies that offered numerous opportunities for the future.

The biometric industry is further driven by the factors like low ownership costs, simplicity in usage, easy compatibility with the network system or infrastructure, easy integration with the updated IT security solutions, and increasing involvement of established corporations.

Growing business enterprises forms the primary market for the biometrics industry. As corporate world is also under constant threat of intrusion into its web system, companies, both large and small, are looking towards the biometrics to ensure cent percent safety of their database.

The RNCOS research also marks the opportunities and the areas that will show substantive growth. The report states that numerous areas are already gaining from these technologies, like the enterprise-wide network security infrastructures, protected electronic banking, and law enforcement regarding security and privacy solutions.

The biometric industry also offers a wide range of applications in organizations like banks, health care industry, amusement parks, enterprise and government networks, passport programs, driver licenses, aviation industry, Credit Monitoring Organizations, report says.

The study further notifies the challenging areas of the biometric industry. The main obstacles for the industry include lower IT budget, lesser acceptance and implementation of biometric technology, higher IT infrastructure investments earlier, along with problems regarding compatibility with the existing structural design.

"Global Biometric Market - New Opportunities (2007-2010)" provides a keen insight into the global biometric industry by prudently analyzing various factors that are stimulating the market to grow at the national as well as global level. The report presents a global perspective by including countries like Russia, South Korea, India, Singapore, and Japan.

The report also point towards the emerging forms of the biometric technologies which include Voice Recognition, Hand Geometry, Facial Scanning, Signature Verification, Finger Scanning, and Iris Technology etc.

About RNCOS: RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

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RNCOS E-Services Pvt Ltd.
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92

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Press Release Submitted On: November 02, 2007 at 8:13 am
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