September 24, 2019
WELLESLEY, Mass., Sep 24, 2019– Technological advancements and a growing public interest in genealogy are two factors which are driving the growth of the global human identification market, according to a report by BCC Research, “Human Identification: Forensics, Genealogy and Security Applications.”
The market expects to see a compound annual growth rate (CAGR) of 14.3% through 2024, when it could be worth $83.9 billion.
“In general, biometrics is defined as a technology for body measurements and calculations, writes analyst Marianna Tcherpakov. “It refers to metrics related to human characteristics such as fingerprints, palm veins, face recognition, DNA, palm prints, hand geometry, iris recognition, retina and odor. Behavioral characteristics are related to the pattern of behavior of a person, including typing rhythm, gait, and voice. The biometrics market in general is a billion-dollar industry, in which the security sector is expected to reach the $50.0 billion mark by 2024.”
Highest Growth in the Genealogy Segment
In 2007 genetic genealogy testing was featured on the U.S. TV program “60 Minutes,” the report adds. Genealogy kits have become a popular gift for Christmas and other holidays.
Moreover, genealogy services are gaining more and more popularity worldwide. Some customers are spending almost $20,000 per year to understand their family history. Market analysis shows that on average at least 95,000 genealogy tests are performed globally.
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Human Identification: Forensics, Genealogy and Security Applications( BIO187A )
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