Report Highlights
The global market for biometric technologies is estimated to be $8.7 billion in 2013. In 2014, the forecasted revenues will likely reach almost $11.2 billion and $27.5 billion by 2019, demonstrating a compound annual growth rate (CAGR) of 19.8%.
Report Includes
- An overview of the market for biometric technologies, including fingerprint, face, iris, vein, and voice technologies.
- Analyses of market trends, with data from 2013, estimates for 2014, and projections of compound annual growth rates (CAGRs) through 2019.
- Discussion covering the variations in the growth of the industry in certain regions.
SCOPE AND FORMAT
This report has been prepared in a simple format that can be easily understood, with a number of tables and charts/figures. The scope of the report includes a detailed study of global and regional markets for various types of biometric devices, with the reasons given for variations in the growth of the industry in certain regions. The report examines each type of biometric technology, determines its current market size, and estimates the future markets for each type of biometric technology. The report also analyzes the market from the manufacturers’ viewpoint as well as that of the final consumers. A number of technological issues arising out of the utilization of biometric technologies are discussed and solutions indicated. The use of biometric technologies in government and public sector institutions are discussed in detail, along with the markets for these sectors.
ANALYST CREDENTIALS
The analyst, Srinivasa Rajaram, is a mechanical engineer with more than 40 years of manufacturing experience. He also was senior vice president of M/S Schenck Avery Ltd., an Indo-German joint venture, and has authored several technology market research reports for BCC Research.
Report Highlights
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The global market for various biometric technologies is poised for sustained growth throughout the forecast period. This market is estimated at $5 billion in 2010 and is expected to reach a value of nearly $12 billion by 2015, a compound annual growth rate (CAGR) of 18.9%.
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The market for AFIS and fingerprint biometric technologies account for the greatest share of the global biometrics market and is forecast to continue to be the main source of overall market revenues from 2010 to 2015 and beyond. This sector is valued at $2.7 billion in 2010 and is expected to increase at a 19.6% compound annual growth rate (CAGR) to reach nearly $6.6 billion in 2015.
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Face, iris, vein, and voice recognition biometric technologies together form the second largest segment. This sector is worth an estimated $1.4 billion in 2010 and is expected to reach $3.5 billion in 2015, a compound annual growth rate (CAGR) of 19.9%.
Report Highlights
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The global market for biometrics increased from $1.95 billion in 2006 to an estimated $2.7 billion by the end of 2007. It should reach $7.1 billion by 2012, a compound annual growth rate of 21.3%.
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Fingerprint biometrics will continue to be the main revenue contributor from 2007 to 2012 and even beyond this time frame.
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The public sector, comprising government and federal departments, law enforcement, military and transport and aviation markets, will be the main user segment of biometric technology.
Report Highlights
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The total market will grow to just under $3.4 billion by 2007.
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By far, the leader is finger scan (FIS) technology with a market share of 80%.
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Facial and voice scan technologies have higher growth rates than FIS.
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Iris and retina scans will have AAGRs of 18.8% and 19.8%, respectively.
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