INSIGHTS
The ‘Global Biometrics Technology Market (2010-2015) – Market Forecast by Products, End-User Application and Geography’ analyzes the biometrics market by different biometrics technologies and applications and studies the major market drivers, restraints and opportunities in regions such as North America, Asia, Europe and Rest of World.
MarketsandMarkets: Global Biometrics Market to Exceed $11 Billion by 2015
Date: 2011/01/18
Source: MarketsandMarkets
The ‘Global Biometrics Technology Market (2010-2015) – Market Forecast by Products, End-User Application and Geography' analyzes the biometrics market by different biometrics technologies and applications and studies the major market drivers, restraints and opportunities in regions such as North America, Asia, Europe and Rest of World.
The biometrics market is estimated to grow from US$4,217.2 million in 2010 to $11,229.3 million in 2015, at a CAGR of around 21.6 percent from 2010 to 2015. The growth of the biometrics market is mainly due to increasing concerns of the countries in terms of strengthening national security.
Amongst all the biometrics modalities, automated fingerprint identification system (AFIS) market is estimated to generate the highest revenue of $1,372.4 million in 2010 and is expected to reach $3,283.7 million in 2015, with a CAGR of 19 percent from 2010 to 2015. Adoption of AFIS in national ids and civil identification is the prime reason behind the growth of AFIS market. However, the IRIS vein and face market is expected to grow with at a CAGR of 27.5 percent, 25.4 and 24.2 respectively from 2010 to 2015.