August 18, 2014 -
TechNavio has published its latest research report, “Law Enforcement Biometrics Market in North America 2014-2018” and expects the market to grow at a CAGR of 18.2 percent during the forecast period.
This latest report also highlights the integration of biometrics in smart cards as one of the top emerging market trends, such as those relating to the upgrading of driver’s licenses and passports.
According to the report, the main end-users of biometrics in North America are governments and private organizations.
The report shows that governments are seeking security tools that can accurately pinpoint suspected terrorists. Meanwhile, private organizations including banks are searching for solutions that will provide greater convenience for end-users, which will help organizations keep existing customers and acquire new customers.
Ultimately, organizations seek biometric technologies that can provide them with considerable cost benefits and a strong advantage.
“The increasing number of security threats against North America over the years has made security a primary concern,” says Faisal Ghaus, VP of TechNavio Research. “The rate of terrorist attacks and data thefts is increasing, increasing the need for high-level security. The rapidly growing Law Enforcement and Homeland Security sectors face a growing number of security threats. Factors such as these have increased the demand for biometrics in North America.”
TechNavio analysts have defined the market conditions in the next 3-4 years by undergoing an in-depth analysis of the impact of market drivers, challenges and trends.
The report features key data on product segmentations, vendor shares, growth rate by revenue and an evaluation of a range of buying criteria in varying degrees of importance.
It follows TechNavio’s previous report that analyzed the present state and the growth potential of the biometrics market in Europe from 2013 to 2018.