India, Once Again
You know, it seems rather interesting at times, whenever I write a Posting for a particular day, the theme and content seem to naturally flow for the next couple of days so. And so goes today, as the above title indicates. Yesterday, I had written about the Indian origins of my parents, and today, as I was looking at the latest Press Releases which came out, I had no direct intention of writing about the Indian theme again.
Rather, I was looking for stuff which was happening in other parts of the world, such as some developments in Biometrics Technology, or something related to the end user or the customer (as you can tell, this is probably most passionate topic to write on). But, instead, I came across a piece of writing which again dealt with India, specifically, the Indian Biometrics market. It was significant enough I thought that it merited its own special Posting today.
So, here we go. In this particular Press Release, the market research company known as “Frost and Sullivan” just presented the “Market Share Leadership Award” to a Indian software Vendor known as “eSSL” (also known as the “enterprise Software Solutions Lab”, based out of Bangalore, India).
Here are the details: “eSSL, (enterprise Software Solutions Lab), one of India’s leading industrial software developers, has received the Frost & Sullivan Market Share Leadership Award in the Indian Biometric Market . . . the performance of diverse market participants in the Indian Biometrics market were evaluated through primary research, executives from each company were interviewed in order to appraise their position within the given market. The Frost and Sullivan data underwent concentrated analysis to determine the award recipient. This assessment researched the best practices adopted by the participants and how they differentiate their solutions within the vendor community. Frost & Sullivan Best Practices Awards for the Indian Market are based on extensive research, analysis of the market and assessment of participants competing and operating in this market.” (SOURCE: http://www.findbiometrics.com/industry-news/i/8668/).
Final Thoughts On Today’s Posting
In fact, just last week, I had written a Posting about another market research report which came out proclaiming that the biggest growth areas for Biometrics will be in the Asian and Pacific Rim markets.
And this statistic just underscores this statement: It is forecasted that the Indian Biometrics market will be valued at some $47 Billion by this year alone, and $350 Billion by the year of 2020. You may be wondering what is fueling all of this growth for this demand of Biometrics. Well, there are multiple reasons:
*India has a huge population-the second largest in the world, with estimates at some 1.3 Billion people, thus, with a larger group of people, there will be a much stronger demand for Biometrics products and solutions;
*Most importantly, there is a strong level of acceptance of Biometrics in India, especially among the rural villages, where people want to be counted and recognized so they can receive all that they are entitled to from the Indian Government;
*India is currently the home of what is deemed to be the world’s largest Biometric project (which combines Iris Recognition; Facial Recognition; and Fingerprint Recognition), so therefore, there is a strong, existing infrastructure already in place for the rapid advancement of Biometrics;
*Because of this huge population, there are a lot of niche markets which can be served, and many Biometric applications which can be created (especially for hybrid/mulimodal/single sign on Biometric solutions).
As I read through the Press Release and wrote this Posting, another idea came to me: Another market niche for the Biometric Vendors, especially here in the United States, to combine the selling of hardware along with the specific software development services which go along with it, as exemplified by the Vendor described in this Posting: “The company [eSSL] has captured a significant share of the market by offering customized solutions. eSSL’s offering of value based pricing has been well appreciated by the customers and has become the cornerstone of its success in the biometrics market.” (SOURCE: http://www.findbiometrics.com/industry-news/i/8668/).
Over time, customers just don’t want the piece of sensor and plastic-they will want the entire package which will include the development of specific apps (in a way much similar to the iPhone, and other Smartphones along that level). Finally, India has always been a land of intrigue with the Maharajas and the elephants, but will this image be proliferated by the adoption of Biometrics??? Only time will tell . . .