About biometrics
Biometrics helps identify individuals based on their physical or behavioral features. It involves verification and identification of physiological traits through fingerprints, face recognition, DNA, palm vein prints, hand geometry, and iris recognition, and of behavioral traits through keystroke patterns and speech pattern/voice recognition. Biometrics technologies are considered more reliable compared to physical devices and numeric codes, as biometric traits will not change. Biometrics performs verification and identification processes to authenticate an individual. In a verification process, a one-to-one matching method is used to verify the biometrics traits of an individual against a particular template in a database, whereas in an identification process, a one-to-many matching method is used wherein the biometrics traits of an individual is matched against all templates in the database to determine an individual's identity.
Biometrics is used for security purposes in the BFSI sector to prevent data breaches and identity theft. Finger scan, facial scan, iris scan, retina scan, signature scan, voice scan, and vein scan biometrics have been deployed worldwide in the BFSI sector for secure transaction and authentication of account and network access in banks.
Technavio's analysts forecast the global biometrics market in the BFSI sector to grow at a CAGR of 21.83% during 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global biometrics market in the BFSI sector for 2015-2019.
To calculate the market size, the report considers revenue generated from the hardware, software, and integrated solutions segments. The revenue generated from aftersales services is not included in the market size calculation.
The report provides a detailed analysis of the following:
• Technology: fingerprint identification, voice recognition, facial recognition, vein recognition, and iris recognition
• Geography: North America, APAC, Europe, Latin America, and MEA
Technavio's report, Global Biometrics Market in BFSI Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Key vendors
• 3M Cogent
• 4G Identity Solutions
• Cross Match Technologies
• FUJITSU
• HID Global
• Safran
Other prominent vendors
• ACTAtek
• BioEnable
• BioID
• EyeVerify
• Face Data
• Fulcrum Biometrics
• Hitachi
• M2SYS Technology
• Nuance Communications
• TENBIO
Market risk factor
• Security issues of biometric data
• For a full, detailed list, view our report
Market trend
• Emergence of mobile biometric payments
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2019 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
03.1 Market Overview
04. Market Research Methodology
04.1 Market Research Process
04.2 Research Methodology
05. Introduction
06. Market Description
06.1 Working of Biometrics Technologies used in BFSI Sector
06.1.1 Fingerprint Biometrics
06.1.2 Voice Biometrics
06.1.3 Facial Recognition
06.1.4 Vein Recognition
06.1.5 Iris Recognition
06.1.6 Conclusion
06.2 Comparison of Biometric Technologies used in BFSI Sector
06.2.1 Feature Comparison
06.2.2 FAR and FRR Comparison
06.3 Applications of Biometrics in Banking
06.3.1 Conclusion
06.4 Biometrics Authentication Technologies through Smartphones in BFSI Sector
06.5 Advantages and Disadvantages of Biometrics in BFSI Sector
07. Key Developments
07.1 Introduction of Multi-factor Authentication
08. Market Landscape
08.1 Market Overview
08.2 Product Life Cycle Analysis
08.3 Share of BFSI Sector in the Global Biometrics Market
08.4 Global Biometrics Market in BFSI Sector
08.4.1 Market Size and Forecast
08.5 Five Forces Analysis
09. Market Segmentation by Technology
09.1 Global Biometrics Market in BFSI Sector by Technologies 2014-2019
09.2 Global Fingerprint Biometrics in BFSI Sector
09.2.1 Market Size and Forecast
09.3 Global Facial Biometrics in BFSI Sector
09.3.1 Market Size and Forecast
09.4 Global Vein Biometrics in BFSI Sector
09.4.1 Market Size and Forecast
09.5 Global Iris Biometrics in BFSI Sector
09.5.1 Market Size and Forecast
09.6 Global Voice Biometrics in BFSI Sector
09.6.1 Market Size and Forecast
10. Geographical Segmentation
10.1 Global Biometrics Market in BFSI Sector by Geographical Segmentation 2014-2019
10.1.1 Global Biometrics Market in BFSI Sector by Geographical Segmentation 2014-2019 ($ millions)
10.1.2 Biometrics Market in BFSI Sector in North America
10.1.3 Biometrics Market in BFSI Sector in Europe
10.1.4 Biometrics Market in BFSI Sector in APAC
10.1.5 Biometrics Market in BFSI Sector in Latin America
10.1.6 Biometrics Market in BFSI Sector in MEA
11. Biometrics Risk Factors: BFSI Sector
12. Biometric Trends: BFSI Sector
13. Key Vendor Landscape
13.1 Key Vendors Matrix
13.2 Key Vendors Description
13.2.1 3M Cogent
13.2.2 Cross Match Technologies
13.2.3 Fujitsu
13.2.4 HID Global
13.2.5 Safran
13.2.6 4G Identity Solutions
13.3 Key Vendor's News Updates
13.3.1 Key Developments
13.3.2 Mergers and Acquisitions
14. Other Prominent Vendors
15. Key Vendor Analysis
16. Other Reports in this Series
List of Exhibits:
Exhibit 1: Market Research Methodology
Exhibit 2: Applications of Biometrics in Banking
Exhibit 3: Biometrics Authentication Technologies through Smartphones in BFSI Sector
Exhibit 4: Overview of Global Biometrics Market in BFSI Sector
Exhibit 5: Share of BFSI in the Global Biometrics Market 2014-2019
Exhibit 6: Global Biometrics Market in BFSI Sector 2014-2019 ($ million)
Exhibit 7: Global Biometrics Market in BFSI Sector by Technologies 2014-2019
Exhibit 8: Global Fingerprint Biometrics in BFSI Sector 2014-2019 ($ millions)
Exhibit 9: Global Fingerprint Biometrics in BFSI Sector 2014-2019 ($ millions)
Exhibit 10: Global Vein Biometrics in BFSI Sector 2014-2019 ($ millions)
Exhibit 11: Global Iris Biometrics in BFSI Sector 2014-2019 ($ millions)
Exhibit 12: Global Voice Biometrics in BFSI Sector 2014-2019 ($ millions)
Exhibit 13: Global Biometrics Market in BFSI Sector by Geographical Segmentation 2014-2019
Exhibit 14: Global Biometrics Market in BFSI Sector by Geographical Segmentation 2014-2019 ($ millions)
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