As identity theft is becoming a common place with consumers everywhere, biometric technologies are being innovated to make transactions more secure.
Such biometric technologies include iris scans, fingerprint scan, matching shape and size of palm, skin, voice and face patterns.
Biometric security systems are increasingly applied to verify identity of individuals at corporate and government sites as well as airports and border points.
The strength of biometrics is that it uses patterns that are unique to each individual; his fingerprints that belong to him alone and unlike the password on a person’s online bank account they will never be lost.
The essential objective of biometrics security is protection - protection of assets against intrusion, theft and fraud; protection of environment against unsolicited access and damage; and protection of man against terrorism, injury and loss. The necessity of positively identifying individuals is the key to safety and security for both corporate organizations and national governments and to facilitate legitimate travel and trade internationally.
A recently published market research report by RNCOS namely “World Biometric Market Outlook (2005-2008)” after having conducted a thorough survey says that there is a growing worldwide interest in biometrics technology for access control or personal identification. As compared to 2003 the market is expected to bounce 6.5 times by 2008.
The report further states “the market of biometrics the point-of-sale equipment and services are predicted to leap to $440 million or 85% by 2010, up from $31 million or 2% in 2005.”
The report also gives a “three year revenue forecast of the worldwide Biometric market which helps to form an idea of the competitive landscape of this industry over 2008.”
The market research report “World Biometric Market Outlook (2005-2008)” by RNCOS will help readers to analyze the opportunities significant to the success of the growing Biometric market globally. It also examines the key application areas of Biometrics in different industries like Banking and Financial services, Health care industry, Aviation industry, Stock Exchanges, Universities and Schools, Police Business processes, Residential locations, Government organizations and Credit Monitoring organizations. The report contains profiles of top 19 players across the world including Entrust Inc., Doan Inc., International Biometric group and Cognitec Systems.
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