Global biometrics market report: banking, financial services and insurance sector

August 24, 2015 - 

Infiniti Research Limited has published a new report titled “Global Biometrics Market in BFSI Sector 2015-2019”, which forecast the market to grow at a CAGR of 21.83% during 2014-2019.

The detailed report covers forecasts for the present and future state of the global biometrics market in the BFSI (Banking, Financial Services and Insurance) sector for 2015-2019.

Biometrics in the BFSI sector is mainly used for security purposes, such as preventing data breaches and identity theft, according to the report.

Meanwhile, finger scan, facial scan, iris scan, retina scan, signature scan, voice scan, and vein scan are among the top biometric technologies currently being deployed around the world in the BFSI sector for secure transaction and authentication of account and network access in banks.

The main geographical regions identified in the report are North America, APAC, Europe, Latin America, and MEA.

Additionally, the report provides detailed profiles of the key vendors operating in the global biometrics market in the BFSI sector, including 3M Cogent, 4G Identity Solutions, Cross Match Technologies, Fujitsu, HID Global and Safran.

It also highlights several other prominent vendors including ACTAtek, BioEnable, BioID, EyeVerify, Face Data, Fulcrum Biometrics, Hitachi, M2SYS Technology, Nuance Communications, and TENBIO.

The report identifies security issues of biometric data as being the leading market risk factor, while stating that the emergence of mobile biometric payments is the leading market trend.

Other key topics covered in the report include the market size in 2019 and respective growth rate, key market trends, market drivers, challenges to growth, market opportunities and threats faced by the vendors, and major strengths and weaknesses of the vendors.

Previously reported, research analyst firms TechNavio, Transparency Market Research, and Grand View Research have all published new biometrics market reports which include forecasts for the next decade.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.