Report predicts large growth in face recognition market

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According to a new research report ‘Global biometric Forecast to 2012’, the global biometric market is anticipated to grow at a CAGR of around 23 per cent during 2011-2013. The report explains prevalent market trends and future scenario of the biometric market trends and future scenario of the boimetric market in different verticals technologies, and regions, underlining the potential areas and key issues crucial for market development.

Among the technologies, fingerprint recognition is possibly the most widely used and familiar biometric technology. Further, biometrics is also becoming a common solution for remote transactions and e-commerce. The report has also found that, technologies, such as facial recognition, fingerprint, AFIS, and Iris are anticipated to account for around 84 per cent of the global biometric market by 2013 end. This is possible due to the growing acceptance of these technologies in various civil and commercial applications including financial sector, security, POS (Point of Sale), ATMs, border security (passports and customer ID), etc.

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