Biometrics Gains Further Acceptance, Studies Say
SAN JOSE, Calif., and ARLINGTON, Va.
Some issues related to the effectiveness of biometrics are still somewhat negative, however it is beginning to gain acceptance as a mainstream technology, according to market research firms.
Since the idea to incorporate biometrics into various types of security systems and institutions exploded since Sept. 11, so has its projected market value, however somewhat varied. New analysis from Frost & Sullivan, for instance, states that the world biometrics market is set to reach $2.1 billion by 2006 (valued at $93.4 million in 2001). In its current study release, the International Biometric Group (IBG) reports that biometrics’ global 2002 industry revenues of $600 million are expected to reach $4 billion by 2007.
Frost & Sullivan’s study reports that while access control will continue to lead the application market share, network security will be the emerging application for the future. IBG reports that civil ID and PC/network access will be the leading biometric applications throughout the next five years, expected to account for nearly $2 billion in combined annual revenues in 2007.
Physical access/time and attendance will reach $245 million in annual revenues by 2004, and surveillance and screening applications are projected to reach $49 million in annual revenue in 2004, according to IBG.
Based on their findings, both organizations report that fingerprint-based biometrics will lead the technology’s growth. In addition, the U.S. government will lead the biometrics vertical market through 2007, with $1.2 billion in annual revenue.
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