The Global Biometric Systems Market 2014-2024” offers the reader detailed analysis of the global biometric systems market over the next ten years, alongside potential market opportunities to enter the industry, using detailed market size forecasts.
What are the key drivers behind recent market changes?
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Global governmental spending on biometric programs and corresponding systems is predominantly driven by the numerous e-passport and national identity card programs underway in various countries and the projects slated to begin in the near future. The US and European nations including the UK, Germany, France and other smaller European nations were the early adopters of biometric technology for various purposes including border control, airport security, identity security, and law enforcement. E-Passports and national identity cards equipped with electronic chips carrying biometric data, form the major basis for all the aforementioned applications. With increasing popularity, countries in Asia Pacific and Latin America are adopting biometric passports and electronic identity cards. Furthermore, the increasing instances of terrorism around the world are also urging governments of vulnerable nations such as the US, UK, Russia, and India to introduce secure biometric passports and electronic documents which prove instrumental in checking the entry of hostile forces into countries through the borders or airports. These national identity and biometric passport issuance programs involve huge investment and require long durations to be completed. For example, India has recently launched its Unique Identity (UID) program in order to provide every citizen with a unique identity card which consists of biometric data including fingerprints, digital signatures and digitized photographs. This program is deemed to be the largest of its kind in the world till date and is anticipated to substantially improve and streamline the process of government services' delivery to the Indian citizens.
What makes this report unique and essential to read?
“The Global Biometric Systems Market 2014-2024” provides detailed analysis of the current industry size and growth expectations from 2014 to 2024, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas.
Key Features and Benefits
The report provides detailed analysis of the market for biometric systems during 2014-2024, including the factors that influence why countries are investing or cutting expenditure on biometric systems. It provides detailed expectations of growth rates and projected total expenditure.
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Government initiatives towards identity and border control, increasing concern over data security and growth in urban population leading towards increase the proportion of rebel groups and terrorists are expected to boost the demand for biometric identity and security systems over the coming years. As this sector gains prominence, it is expected that large competitors will try to generate competence by acquiring medium and small sized niche entities, with unique facilities that will fill the gaps in their portfolio of products, or services. In July 2012, Apple Inc acquired fingerprint sensor and recognition solution provider AuthenTec for US$356 million. Moving ahead the company has integrated the fingerprint recognition into its latest mobile devices iPhone 5S. In the same month, Cross Match Technologies, a provider of interoperable biometric identity management systems was acquired by Francisco Partners, a global private equity firm focused on investments in technology and technology-enabled services business. Later in the same year, search engine giant, Google acquired facial recognition technology company Viewdle. The increasing demand for innovative biometric applications is expected to result in a further increase in consolidation activity over the coming months.
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