Albany, NY — (PRESS RELEASE JET) — 10/31/2017 — The global government biometrics market is projected to rise from a valuation of US$4,996.5 Mn in 2017 to reach US$8,605.2 by 2022 end. The market worldwide market is anticipated to register a CAGR of 11.5% from 2017 to 2022.
The objective of the report is to define, describe, and forecast the security analytics market on the basis of applications, services, deployment mode, organization size, industry verticals, and regions and also to provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
Global Government Biometrics Market: Overview
The new report on global government biometrics offers a comprehensive insight into key market dynamics, notable trends, major developments, extensive profile of key players and their offerings, and competitive landscape. The study provides a detailed assessment of various technologies and their scope in various regional markets. It offers the market share and size of various segments based on technology, authentication, and application. The well-researched study takes a closer look at the revenue share and other key figures during the historical period of 2012–2016 and offers projections for the same during the forecast period (2017–2022). Evaluating various prominent trends, the findings offered in the report gives a clear indication of the growth trajectory in the coming years. The study helps market participants identify lucrative avenues and imminent investment pockets in various regions.
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Global Government Biometrics Market: Dynamics
The report offers an in-depth analysis of key drivers and restraining factors, crucial implementation challenges, recent technological advancements, and cost structure and pricing strategy. The study takes a closer look at promising opportunities for market players. The burgeoning adoption of biometric system by various government agencies for public safety, voters’ registration, and national IDs is a key factor boosting the market. The pressing need for a reliable, accurate, and convenient individual identification of populations has stoked the demand for biometrics among these agencies. There is a rapidly growing demand for various biometric modalities including fingerprint recognition, facial recognition, and retinal recognition among law enforcement agencies and border protection and custom officers.
The widely prevalent concerns of security and privacy of biometrics among populations and their consequent effect on restriction on civil liberties are key factors likely to hamper the demand for government biometrics. Nevertheless, the marked success of several biometric trials conducted in several developing and developed nations in recent years is expected to accentuate the government biometrics market.
Global Government Biometrics Market: Segmentation
The report offers insights into detailed segmentation and elaborates on the share and size of various segments. It further includes a granular comparative analysis of their revenue across various regions and takes a closer look at the year-on-year growth over the historical period. Prominent factors affecting the implementation rates of various application and technology segments are highlighted in the study.
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The report segments the global government biometrics market based on technology, application, authentication, and geography. On the basis of technology, the market is sub-segmented into fingerprint recognition, facial recognition, iris/retinal recognition, signature recognition, voice recognition, hand recognition, and others. Of these, the fingerprint recognition sub-segment leads the market for biometrics technology and is growing at the dominant rate vis-à-vis absolute growth over 2017–2022. The segment is projected to reach a valuation of US$ 2,901.3 Mn by the end of the forecast period. This is attributed to the large-scale adoption of this modality in the travel and immigration sector in various parts of the world, notably among law enforcement agencies.
On the basis of application, the report segments the global government biometrics market into border control, public safety, e-passport, voter registration, latent print matching, national ID, healthcare and welfare, and others. Based on authentication, the market is bifurcated into single factor and multi-factor authentication.
On the basis of region, the report segments the global government biometrics market into North America, Latin America, the Middle East and Africa, Europe, Asia Pacific excluding Japan (APEJ), and Japan. Of these, the North America market is predicted to dominate the global market vis-à-vis revenue. The market is projected to rise at a CAGR of 10.9% during the forecast period and is expected to be valued at US$ 2,510.4 Mn by the end of 2022.
Companies profiled in the report are:
The report offers a detailed profiling of various players and analyzes their offerings and key strategies. Key players profiled in the report are Daon Inc., Gemalto N.V., Safran Electronics & Defense SAS, NEC Corporation, Fujitsu, BIO-Key International, Inc., Precise Biometrics AB, Secunet Security Networks AG, Thales SA, and Aware, Inc.
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