India Biometrics Market, By Type (Fingerprint Recognition, Iris Recognition, Facial Recognition, Voice Recognition, Hand/Palm Recognition and Others), By End User (Government, Banking and Finance, Energy and Power, Consumer Electronics and Others), By Region, Competition, Forecast & Opportunities, 2026
India Biometrics Market stood at USD1,643.91 million in FY 2020 and is forecast to grow at a CAGR of over 21.38% until 2026, owing to the rapid technological advancements and the growing need for advanced security systems. The growing penetration of smartphones and the need for enhanced security and authentication of access for confidential data and information is creating numerous growth opportunities for the Biometric Market in India. The consumers are progressively receiving diverse biometric means, for example, fingerprint, facial and voice acknowledgment to confirm their identity. There has been a surge in usage of biometric devices in services under various initiatives by the government of India, including UIDAI (Aadhar), E-Passport, RSBY (Rashtriya Swasthya Bima Yojna), driving permit, and different projects, which in turn will push the growth of the market in the coming years.
Biometrics Market in India can be segmented based on the type, end user and region. Based on type, the market can be segmented into fingerprint recognition, iris recognition, facial recognition, voice recognition, hand/palm recognition, and others. Facial recognition segment leads the market owing to its increasing demand from the government sectors and consumer electronics, followed by fingerprint recognition devices. Facial recognition has enhanced security, faster processing, reduced number of touchpoints in comparison with fingerprint and iris recognition devices. Moreover, increasing demand for biometrics from various banking and finance firms, end-use industries, residential complex, healthcare sector is predicted to drive the demand for biometrics during the forecast period.
Some of the players in the Biometrics Market of India include IDEMIA, SecuGen India Pvt. Limited, NEC India Pvt. Limited., 4G Identity Solutions Pvt. Limited., HID India Private Limited, eSSL Security, 3M India Limited., Honeywell Automation India limited., Zicom Electronic Security Systems limited. Mantra Softech (India) Pvt. Limited, AutoID Systems, Bioenable Technologies Pvt. Limited and others. The companies operating in the market are focusing on expansion and mergers & collaborations to increase their share in the market.
Years considered for this report:
Historical Years: FY2016-FY2019
Base Year: FY2020
Estimated Year: FY2021
Forecast Period: FY2022-FY2026
Objective of the Study:
- To define, classify and forecast India Biometrics Market based on technology type, end user, region and company.
- To analyze and forecast India Biometrics Market size.
- To scrutinize the detailed market segmentation and forecast the market size, in terms of value, and on the basis of end use sector by segmenting India Biometrics Market into five sectors, namely, government, banking & finance, energy & power, consumer electronics and others (hotels, healthcare, retail, etc.).
- To analyze and forecast the market size, in terms of technology types with respect to key types such as fingerprint recognition, iris recognition, facial recognition, voice recognition and others.
- To identify the drivers and challenges for India Biometrics Market.
- To strategically profile leading players in the market which are driving the innovation and technological advancements in India Biometrics Market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of biometrics manufacturers across India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated India Biometrics Market size using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Biometrics technology solution providers
- Digital and physical security providing bodies and companies
- End users of biometrics technology such as government, banking & finance, energy & power, consumer electronics and others
- Associations, organizations, forums, and alliances associated with biometric based technology platforms and start-ups.
- Government bodies such as regulating authorities and policy makers
- Research & development organizations and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
In this report, India Biometrics Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Type
- Fingerprint Recognition
- Iris Recognition
- Facial Recognition
- Voice Recognition
- Hand/Palm Recognition
- Market, By End User
- Banking and Finance
- Energy and Power
- Consumer Electronics
- Market, By Region:
Company Profiles: Detailed analysis of the major companies present in India Biometrics market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
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