Global Government Biometrics Market Worth US$6.9 Billion by 2024, According to New Report from MarketResearchReports.com
Market Research Reports, Inc. has announced the addition of “The Global Government Biometric Systems Market 2014-2024” research report to their offering.
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Lewes, DE - January 21, 2014 (www.investorideas.com newswire) The global government biometrics market is expected to be worth US$6.9 billion by 2024, according to a new report launched on MarketResearchReports.com.
In its report, The Global Government Biometric Systems Market 2014-2024, predicts the biometrics market will grow by 6.88% over the next 10 years.
This year, the market is expected to be worth US$3.6 billion. “Major factors influencing the demand for these systems include the central role being played by the requirement for verification of digital identity that is valid globally,” the report explains.
Other factors influencing market demand include increasing demand for e-Governance services worldwide, increasing reliance on digital transactions and the availability of low-cost effective biometric systems.
The growth of mobile devices, in particular smartphones with in-built biometric technology, will also help drive the market.
The biometric systems market is now entering a phase of intense competition and innovation which is helping drive investment as suppliers vie for a share of the market, the report says.
North America is expected to dominate the biometrics market, closely followed by Europe and Asia. Despite Europe’s continuing economic woes, the region’s share of the global market is predicted to increase over the projected period.
In terms of technology, fingerprint identification is expected to account for 43% of the biometrics market. With a share of 26%, facial recognition comes second and Iris/Retinal identification is third with 13.2%.
‘ 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.
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.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.
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