Research and Markets has announced the addition of the "Global Biometrics Market in BFSI Sector 2016-2020" report to their offering.

The report forecasts the global biometrics market in BSFI sector to grow at a CAGR of 20% during the period 2016-2020.

Security of data and financial assets have been a key concern for banks as well as for customers. Numeric keypads, keys, and identity badges were widely used to prevent unauthorized access to data and premises. With technological advancements, two-factor authentication was introduced, where individuals could gain access to secure premises after they are authenticated twice, via hardware devices and numeric codes. However, hackers can gain access to hardware devices and obtain numeric codes, which increases the security risks, especially in the BFSI sector.

According to the report, increase in digitization of banking services will drive growth in the biometrics market in BSFI sector. The increased use of smart devices and smartphones and tablets have led a digital reformation of the banking sector. The BFSI sector is one of the prominent users of portable devices for digital payments and cashless financial transactions.

With the growing transaction volumes and the introduction of new digital payment solutions, the banking sector is challenged with the need to keep the magnitude of fraudulent activities low, without compromising on the convenience of the customers.

Key vendors:

  • Cross Match Technologies
  • Fujitsu
  • HID Global
  • M2SYS Technology
  • Safran

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Market description

PART 06: Market landscape

PART 07: Technology life cycle

PART 08: Market developments

PART 09: Market segmentation by technology

PART 10: Geographical segmentation

PART 11: Market drivers

PART 12: Impact of drivers

PART 13: Market growth inhibitors

PART 14: Impact of drivers and challenges

PART 15: Market trends

PART 16: Five forces model

PART 17: Vendor landscape

PART 18: Appendix

For more information on this topic, check out the Biometrics section of the Research and Markets' blog.

For more information about this report visit http://www.researchandmarkets.com/research/8wjjhp/global_biometrics

Research and MarketsLaura Wood, Senior Managerpress@researchandmarkets.comFor E.S.T Office Hours Call 1-917-300-0470For U.S./CAN Toll Free Call 1-800-526-8630For GMT Office Hours Call +353-1-416-8900U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716Related Topics: Biometrics