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Biometrics market forecast to reach more than $10 billion in 2014

As the market for access control systems evolves, more diverse options are made available for identity authentication purposes. While ID cards are still widely used for access control authorization, biometrics – or the process of scanning human features – is becoming more commonplace.

A new report by TechSci Research revealed that the market for biometrics is forecast to generate more than $10 billion in revenue by 2014. While there are many reasons for the rapid adoption rates, the increase is primarily attributed to the growing need for border control technologies and national identity scanners in the public sector, as well as the demand for network access solutions for financial transactions.

The study also revealed that fingerprint scanning technologies have been the primary driver for biometrics adoption in the past decade. In the future, however, more access control systems will likely leverage vein recognition technologies, especially in North America and Europe, as these two continents made up more than 62 percent of the global biometrics market in 2011.

According to Acuity Market Intelligence, biometrics can do a lot for businesses and homeowners that want robust perimeter security tools, as fingerprints, veins and other human features cannot be duplicated. As a result, only authorized individuals will be able to gain entry to restricted areas.

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