Next Biometrics, a provider of advanced fingerprint sensor technology, said it has just delivered stock of its FAP20 fingerprint sensors worth NOK 6 million (approximately US$567,000) to a partner distribution company based in Singapore.
According to an announcement from the company, the new partner, described as one of its largest, will be responsible for distributing the FAP20 biometric sensors in selected countries in Asia.
The partner is also expected to help strengthen Next’s presence in the Indian market, importing and distributing the sensors to a number of customers.
“The NOK 6 million order and our new partnership with distributors gives us confidence in our updated go-to-market strategy for India. The order is a strong indication that the official Aadhaar L1 program is one step closer to market launch, although the exact date is beyond our control,” says Ulf Ritsvall, Senior Vice President of Sales and Marketing at NextBiometrics.
In August, Next announced an agreement with a Chinese distributor for its fingerprint sensors and entered into a biometric hardware agreement with an OEM customer in India, initially formed earlier this year. This latest agreement concerns FAP20 sensors and refers to the delivery of the product in the second half of 2022.
The company says this latest order is tied to the OEM partner deal that was first unveiled earlier this year.
A recent report by Coherent Market Insight, a global market intelligence and consulting organization, forecasts the global biometric sensors market to reach $1.8 billion by 2025, growing at a CAGR of 11.4 % over the forecast period.
Asia | biometrics | delivery | fingerprint sensors | India | Next Biometrics | shares | VAR