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Updated: May 9th, 2008 03:28 PM GMT-05:00
Growth expected for biometrics market in financial sector
Market expected to reach over $2 billion in 2013The Latest from SIW
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SecurityInfoWatch.com
SecurityInfoWatch.com
Analysts say that the market for biometric security measures at financial institutions will skyrocket globally over the next four years.
According to a research report issued by Frost & Sullivan, the market, which garnered $117.3 million in 2006, is estimated to reach $2.07 billion in 2013.
The report cites banks eagerness to offer their customers enhanced security and convenience as a big factor for the expected increase. It also states that biometrically enabled ATM’s have become popular in such areas as Japan, India, Latin America and the Middle East.
