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%.
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.
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%.
STUDY GOALS AND OBJECTIVES
This report studies the global as well as regional markets for biometric technologies and devices, with the purpose of locating newer markets and expanding the present market position for various types of biometric devices. A realistic forecast has been made for the future market for different types of biometric technologies and devices. These biometric technologies are studied, including the value of such products produced and utilized globally, as well as in different regions during the last 3 years and the forecast for the next 5 years. The application for each type of biometrics technology is discussed in detail with a view of establishing the global as well as regional usage. A future forecast has been made for such applications.
The report also studies the product life cycle and technology life cycle of various types of biometric devices and methods employed by different manufacturers and users in maintaining ecological balance. Several types of new biometric technologies recently developed are becoming more popular in various applications. These are also studied. Finally, the report profiles the major manufacturers and suppliers of biometric devices. The mergers and acquisitions in this field have also been studied and discussed.
REASONS FOR DOING THIS STUDY
There are constant improvements in the quality of biometric devices and products as the major manufacturers continue to upgrade their products based on market needs. Also, new products and applications are being developed based on the continuous research and development work being carried out by major manufacturers to stay ahead of the competition. Successful operation of any company in a competitive market depends upon the identification of product opportunities from the viewpoint of the company’s strengths. For this, it is necessary to understand the size and growth rate of any opportunity and the competitive atmosphere in which the company exists. This report presents the ideal medium to understand the many exciting and growing opportunities in the field of biometric technologies and devices and will help any prospective manufacturer, distributor, or even user to succeed in this growing field.
This report is intended for individuals who have responsibility for security and protection of the civil infrastructure and related applications.
Those who will find this manual helpful include, but are not limited to:
Senior executives within biometrics supplier companies
Government and commercial end users
Consultants to the global biometrics industry
Biometrics and security systems integrators
Security managers in private and public sectors
Infrastructure and risk assurance managers
Site security officials
SCOPE OF REPORT
The 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.
METHODOLOGY AND INFORMATION SOURCES
Both primary and secondary research methods were used in this study. Primary information sources for this market research include individuals within companies, various research organizations, governmental agencies, and trade associations. Secondary research includes extensive literature reviews, including trade journals, seminar proceedings and patent literature, company literature, published reports, and government publications. Additional secondary research sources include databases, trade literature, specialized journals, and government statistics.
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.
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The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or its use.
Published - Dec-2007|
Analyst - Nirav Dalal|
Code - IFT042B
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.
Published - Jun-2003|
Analyst - Okereke Chima|
Code - IFT042A
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.
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