Fingerprint biometrics in VAR: Key market research findings
- Integration of fingerprint biometrics in smart cards to drive market growth
- Americas dominate the market geographically
- Key vendors – Fulcrum Biometrics, Delaney Secure, Neurotechnology, and 360 Biometrics
Technavio’s market research analysts expect the global fingerprint biometrics in the VAR market to grow at a CAGR of around 12% between 2016 and 2020. The demand for fingerprint biometrics is augmented by the integration of fingerprint biometrics into smart cards. A biometric-based smart card is a combination of a stored fingerprint template on a smart card and a live scanner. These cards are increasingly used for documents such as ID cards, passports, driving licenses, social security cards, and medical and insurance cards to enhance the level of security and to ensure the safety of the user. The Americas occupied around 28% of the overall market space to become the dominant shareholder in the global fingerprint biometrics market during 2015. The concentration of prominent vendors in the region coupled with the ease for value-added resellers (VARs) in building and maintaining relationships with providers is expected to boost growth in the fingerprint biometrics in the VAR market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the fingerprint biometrics segments based on technology.
“The latest trend in the market is the introduction of multimodal biometric systems in sectors like healthcare, BFSI, transportation, automotive, and government. Multimodal biometrics is the integration of a number of biometric technologies such as fingerprint recognition, facial recognition, and voice recognition. The implementation of a number of biometric technologies into one device enables the end-user to take advantage of all the technologies involved and overcome the limitations of a single biometric technology,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
By 2020, the non-AFIS segment is expected to dominate the global fingerprint biometrics market by accounting for almost 90% of the total market share. Non-AFIS technology generates revenue from the use of fingerprint biometric technology at residential homes and commercial premises. The increased use of non-AFIS systems among enterprises for employee monitoring, time and attendance management, and access control and the growing preference for customized and value-added products will contribute to the growth of the non-AFIS market globally during the forecast period.
The key vendors in the market include Fulcrum Biometrics, Delaney Secure, Neurotechnology, and 360 Biometrics. To gain maximum market shares, companies in this market have to differentiate their services and product offerings through a clear and unique value proposition. Additionally, some vendors have also started adopting M&A strategies to develop and expand their global reach and to strengthen product lines. The biometric fingerprint system market is currently at the growth stage and its high growth potential is likely to attract many new players and VARs into the market.
A more detailed analysis is available in the Technavio report, Global Fingerprint Biometrics in the VAR Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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