The Global Biometrics Market
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%.
Fingerprint biometrics will continue to be the main revenue contributor from 2007 to 2012 and even beyond this time frame.
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.
BCC Research's goal in conducting this study was to determine the current status of the worldwide biometrics industry and assess its growth potential over the 5-year period from 2007 to 2012. Since 9/11, growth within the biometrics market has been tremendous. Growth within the market has largely been seen in highly successful applications of biometric security solutions deployed by governments worldwide. Given the success of these biometric applications in securing these nations, biometric security solutions are now being deployed by the private sector. In addition, because governments worldwide still face eminent security threats, they are continuing their efforts to increase security. BCC was therefore interested in examining the global market potential for the biometric applications in both the public and private sectors to present a comprehensive analysis of the current and future biometrics market.
SCOPE OF STUDY
This report contains:
- Descriptions of various types of biometrics technologies including fingerprint, face recognition and hand geometry, with their current and potential applications
- The current global market status of biometrics, trends and forecasts for growth over the next 5 years
- Technological issues, including the latest developments and a patent analysis
- A discussion of the biometrics industry on a worldwide basis from the standpoint of both manufacturing and consumption, along with profiles of leading companies
- An examination of government initiatives related to biometrics, including regulations, standards and issues such as individual privacy.
BCC Research presents an analysis of each biometric segment based on technology, vertical market, application, and geographic region. The base year for analysis and projection is 2007. With 2007 as a baseline, market projections were developed for 2007 to 2012. Estimated values are based on what manufacturers paid in undepreciated dollars.
The major sources of information for this study were the primary research done by interviewing the majority of key players in this industry and secondary research compiled from the Internet, company websites, and current financial and trade information, and government sources.
Nirav Dalal is a business consultant who has extensive experience in various technology markets, including IT infrastructure, software, product life cycle management, engineering, and systems analysis.
The total market will grow to just under $3.4 billion by 2007.
By far, the leader is finger scan (FIS) technology with a market share of 80%.
Facial and voice scan technologies have higher growth rates than FIS.
Iris and retina scans will have AAGRs of 18.8% and 19.8%, respectively.