Market Research Report
Global Government Biometrics Market 2017-2027
|Published by||Strategic Defence Intelligence||Product code||293604|
|Published||Content info||161 Pages
|Global Government Biometrics Market 2017-2027|
|Published: September 5, 2017||Content info: 161 Pages||
Rapid technological advancements in the field of biometric recognition and identification systems along with advancements in computing and other supporting fields, fueled companies spending significantly on research and development in the biometric systems domain. Such technical accomplishments have stemmed from a strong emphasis on the application of such technologies by national governments, which have in turn resulted in a sharp decline in prices of scanning devices and associated components, in the process providing further impetus to investment in the sector.
Global government biometrics market will value US$4.3 Billion in 2017 and reach US$7.9 Billion in 2027, registering a CAGR of 6.37% over the forecast period (2017-2027). The cumulative market for global expenditure will reach US$62.8 Billion over the same period. The market demand is primarily driven by increasing demand for e-Governance services worldwide, growing reliance on biometrics for identity verification and the availability of suppliers that are capable of delivering low cost effective biometric systems.
Fingerprint recognition segment is expected to account for 36.4% of the market owing to its large scale implementation in various government projects across the globe. Fingerprint recognition segment is followed by the facial recognition segment, with a share of 31.0%. Iris/ retinal identification, signature recognition, and other technologies account for 14.7%, 10.8%, and 7.0% of the total market share respectively.
North America will continue to dominate the Government Biometric market, with a 47.9% share of the market's revenues over the forecast period, followed by the Asia-Pacific with a share of 18.0%, and Europe with 16.3%. The Middle East is projected to become a highly attractive market for Government Biometric due to the volatility of political conditions and the ongoing threat of terrorism. It is set to account for a share of 8.0%, followed by Latin America and Africa with a collective share of 9.8%.
The report "Global Government Biometrics Market 2017-2027" offers a detailed analysis of the global government biometrics market over the next 10 years, providing data pertaining to market size and forecasts. It covers key technological and market trends by analyzing factors influencing the demand for government biometrics equipment.
In depth, this report provides the following analysis -
The Global Government Biometric market will value US$4.3 billion by the end of 2017 and is expected to register a CAGR of 6.37%, to reach US$7.9 billion in 2027.
In terms of segments, the fingerprint recognition segment is expected to account for 36.4% of the market owing to its large scale implementation in various government projects across the globe. Fingerprint recognition segment is followed by the facial recognition segment, with a share of 31.0%. Iris/retinal identification, signature recognition, and other technologies account for 14.7%, 10.8%, and 7.0% of the total market share respectively