The global market for biometric technologies is estimated to be $8.7 billion in 2013. In 2014, the forecasted revenues will likely reach almost $11.2 billion and $27.5 billion by 2019, demonstrating a compound annual growth rate (CAGR) of 19.8%.
This report studies the global as well as regional markets for biometric technologies and devices, with a view to locate newer markets and to expand the present application market for various types of biometric devices. A realistic forecast has been made for the future market for different types of biometric technologies and devices. These biometric technologies and products are studied, with attention to their value globally, as well as in different regions, during the last three years and forecasted for the next five years. The application for each type of biometric technology is discussed in detail with a view to establishing global as well as regional usage. A future forecast has been made for such applications.
The report also studies the product life cycle and technology life cycle of various types of biometric devices and the methods employed by different manufacturers and users in maintaining ecological balance. Several types of new and recently developed biometric technologies are becoming more popular in various applications. These are also studied. Finally, the report profiles the major manufacturers and suppliers of biometric devices. The mergers and acquisitions in this field are also studied and discussed.
There are constant improvements in the quality of biometric devices and products, as the major manufacturers continue to upgrade their products based on market needs. Also, new products and applications are being developed based on the continuous research and development work being carried out by major manufacturers in order to stay ahead of the competition. Successful operation of any company in a competitive market depends upon the identification of product opportunities with an eye to the company's strengths. For this, it is necessary to understand the size and growth rate of any opportunity and the competitive atmosphere in which the company exists. This report presents the ideal medium for understanding the many exciting and growing opportunities in the field of biometric technologies and devices, and will help any prospective manufacturer, distributor, or even user to succeed in this growing field.
This report is intended for individuals who are responsible for security and protection of infrastructure and related applications. Those who will find this manual helpful include, but are not limited to:
This report has been prepared in a simple format that can be easily understood, with a number of tables and charts/figures. The scope of the report includes a detailed study of global and regional markets for various types of biometric devices, with the reasons given for variations in the growth of the industry in certain regions. The report examines each type of biometric technology, determines its current market size, and estimates the future markets for each type of biometric technology. The report also analyzes the market from the manufacturers' viewpoint as well as that of the final consumers. A number of technological issues arising out of the utilization of biometric technologies are discussed and solutions indicated. The use of biometric technologies in government and public sector institutions are discussed in detail, along with the markets for these sectors.
Both primary and secondary research methods were used in this study. Primary information sources for this market research include individuals within companies, various research organizations, governmental agencies, and trade associations. Secondary research includes extensive literature reviews, including trade journals, seminar proceedings, patent literature, company literature, published reports, and government publications. Additional secondary research sources include databases, trade literature, specialized journals, and government statistics.
The analyst, Srinivasa Rajaram, is a mechanical engineer with more than 40 years of manufacturing experience. He also was senior vice president of M/S Schenck Avery Ltd., an Indo-German joint venture, and has authored several technology market research reports for BCC Research.
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