Global government biometrics market to reach $10.2b in 2025: report
A new report by Strategic Defence Intelligence titled “The Global Government Biometric Systems Market 2015-2025” projects the global biometric systems market to grow at a CAGR of 8.70% from $4.4 billion in 2015 to reach a peak of $10.2 billion by 2025.
The report, available for purchase at Research and Markets, offers a detailed analysis of the global government biometric systems market with market size forecasts covering the next 10 years, including the major drivers, trends, and challenges faced by industry participants.
The market is expected to be dominated by North America, followed by Asia-Pacific and Europe, according to the report.
The report provides insights into the technological developments in the global government biometric systems market, along with a comprehensive analysis of the changing preferences of global government biometric systems market departments.
The report breaks down the various industry characteristics by determining the strengths, weaknesses, opportunities, and threats faced by the industry.
The report defines the market’s five main categories of biometric systems as fingerprint recognition, facial recognition, iris/retinal recognition, signature recognition, and other technologies.
Of the five categories, the fingerprint recognition segment is expected to account for 34.9% of the market, followed by facial recognition with a 29.8% market share.
Iris/retinal recognition and signature recognition are projected to account for 14.9% and 7.8% of the market, respectively, while the remaining 12.7% is accounted for by other technologies.
The report details the major programs in each segment that are expected to be rolled out during the forecast period.
Finally, the report analyzes the competitive landscape of the market, with a full overview of key players, key alliances, strategic initiatives, and a brief financial analysis.