Biometrics is seeing rapid adoption in public and private sectors worldwide as an accurate, reliable and cost-saving way to offer better and advanced security surveillance. Over the past few years, the biometric technology has developed from a new technology used in a narrow band of closed environment applications to a useful, practical, fit-for-purpose tool used across a range of industries and in a wide variety of applications. Along with the governments across the world, a growing number of financial services firms are also considering the use of biometric technology strongly as a more efficient and secure method of identifying its potential customers, according to “Global Biometric Forecast to 2012”.
This analytical research thoroughly evaluates the global biometric market. It briefly discusses about the current and future scenario of biometric market across various regions, underlining the future potential areas and key issues crucial for the market development.
“Global Biometric Forecast to 2012” offers extensive research on various biometric technologies, acknowledging some of their widely used applications and contextualizing the role of biometrics as an important part of security suite available to government and private industry. It also highlights some of the countries undertaking major biometrics initiatives across the world.
For the purpose of this report, the global biometric market is defined as the aggregate biometric markets of North America, Asia-Pacific, Europe, Middle East & Africa, and South America.
Key Research Highlights
- Propelled by several regulatory compliances and mandates, the global biometric market is expected to grow at a CAGR of more than 20% through 2012.
- Biometric technologies like facial recognition, fingerprint, AFIS and iris are anticipated to account for more than 80% of the global biometric market by 2012.
- Iris recognition technology is projected to grow at a CAGR of nearly 36% from 2008 to 2012 followed by hand geometry, voice recognition and face recognition.
- Financial and healthcare sectors are likely to emerge as the major technology consumers over the forecast period with future CAGR pegged at around 45% and over 31% respectively.
- North America and Asia-Pacific together are expected to account for nearly 55% of the global biometric market by 2012.
- The global biometric market offers huge scope for devices/peripheral manufacturers and software developers to offer better quality services at affordable price in order to serve mass market.
The Report Answers
- What is the current status of global biometric market?
- Which factors are driving the global biometric market?
- What is the current scenario of various biometric technologies and how these technologies will perform in future?
- What are the potential biometric applications and what is their future outlook?
- Which vertical segment will have the highest growth potential in near future?
- What is the region-wise scenario of biometric market?
- How is the future outlook of biometric market across various regions?
- What are the areas of opportunities for the market?
Research Methodology Used in the Report
Information Sources
Information has been sourced from various credible sources like books, newspapers, trade journals, white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to over 3000 paid databases.
Analysis Method
The analysis methods used in this report include ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis.
