Market research firm Research and Markets has released a new report on the government-driven global biometrics market. Entitled “The Global Government Biometric Systems Market 2015-2025“, the report maintains the firm’s prediction that the overall global market will expand at a rate of 8.7 percent (CAGR) over the next ten years, with government expenditure remaining an important market factor.
Research and Markets estimates that the current value of the overall biometrics market is $4.4 billion, and that it will peak at $10.2 billion in 2025. While the firm has not publicly stated how much of that market share is taken up by government spending, that sector has always been a huge one; ABI Research has predicted that it would remain the dominant market segment until late 2017, when it’ll be overtaken by the consumer and enterprise sectors. Research and Markets has revealed that the modality that will be most favored by governments over their forecast period is fingerprint recognition, with a predicted market share of 34.9 percent, followed by facial recognition at 29.8 percent and iris recognition at 14.9 percent.
While it’s overall dominance in the biometrics market may soon give way, the government biometrics market has enjoyed strong growth and will almost certainly continue to do so. More and more governments around the world are beginning to adopt official biometric ID and passport programs, and countries like Saudi Arabia and India are going much further, using biometric systems in a range of activities, from border security to the administering of government services.
April 21, 2015 – by Alex Perala