Global government biometrics systems market to reach $10.2 B by 2025: Strategic Defence Intelligence
Strategic Defence Intelligence has published a new report entitled “The Global Government Biometric Systems Market 2015-2025“, which estimates the global biometric systems market to be valued at US$4.4 billion in 2015.
Additionally, Strategic Defence Intelligence forecasts that the market will increase at a CAGR of 8.70% during the forecast period to reach a peak value of US$10.2 billion by 2025.
The report analyzes a number of key areas regarding the global government biometric systems market, including both historic and forecast global industry values, market trends, the challenges faced by industry participants, analysis of industry leading companies, and relevant news.
There is also a detailed overview of the government biometrics systems market with market size forecasts covering the next 10 years.
Strategic Defence Intelligence establishes that the market is comprised of five categories of biometric systems, including fingerprint recognition, facial recognition, iris/retinal recognition, signature recognition, and other technologies.
The report estimates that the fingerprint recognition segment is expected to amount to 34.9% of the market, followed by the facial recognition segment, with a share of 29.8%, iris/retinal recognition and signature recognition segment with a share of 14.9% and 7.8% respectively, and 12.7% is accounted for by other technologies.
During the forecast period, the total global expenditure on biometric systems is expected to reach US$73.3 billion, said the report.