Government biometrics market to see 11% CAGR growth until 2020: Technavio
Technavio has released a new research report titled ‘Global Biometrics Market in the Government Sector 2016-2020‘, which forecasts that the global biometrics market in the government sector will grow at a CAGR of over 11% until 2020.
The report identifies the major end-users of this market as the defense department (military, aerospace and federal organizations), the department of homeland security (civil security organizations and ministries, including transportation and identity documentation), and others, including government spending on biometric solutions for healthcare organizations, financial services, education, energy, and government services.
Fingerprint recognition, which is by far the oldest biometric technology used in the government sector, accounted for a 47.29% share — the largest market share in 2015.
The technology was followed by facial recognition with 11.21%, iris recognition with 9.69%, and voice recognition with 7.35%.
These three biometrics technologies will experience a high growth during the forecast period mostly due to their user-friendliness.
“In 2015, the defense department was the largest contributor to the market,” said Abhay Singh, one of Technavio’s lead industry analysts for automatic identification systems. “The defense department uses biometric systems for monitoring purposes, access control, and identification of individuals.
“Governments across the globe allocate significant amounts in their defense budgets for biometric solutions, given their ever-rising importance. Defense spending on these solutions will remain high during the forecast period.”
The report also found that the major growth drivers of the global biometrics market in the government sector are government initiatives, increasing volume of identity thefts, rising need for border security, broader adoption of cloud-based biometrics, and government initiatives.
Previously reported, Technavio published a new research report entitled “Global Multimodal Biometrics Market 2016-2020“, which finds that the global multimodal biometrics market will grow at a CAGR of more than 15% over the forecast period.