A new study published by research firm MarketsandMarkets reports that the security solutions market is going to be worth $397.6 billion by 2024. This will reflect an anticipated compounded annual growth rate (CAGR) of 9% over the next 5 years, rising from its valuation of $257.9 billion in 2019. The report states that the key…
ABI Research is predicting that the demand for better security solutions will drive the market for biometric hardware to $19 billion by 2024. The firm expects Body-Worn Cameras (BWC), surveillance cameras, and access control technology to display the most growth over that time period, with much of that revenue coming from the public sector. Law…
China’s air travel industry is investing heavily in AI technology. According to SITA’s latest 2019 China IT Insights report, 88 percent of the country’s airlines and airports plan to have some form of AI program in the development or deployment phase by 2022, with a heavy focus on chatbots and virtual assistants. Roughly half (43…
Technavio has released a new report on the global biometrics market, which is expected to display a CAGR of more than 15 percent between 2019 and 2023. The research firm attributes that growth to the rising demand for biometric solutions in the public and the private sectors. With regards to the former, Technavio notes that…
Meticulous Research has released a new report that predicts that the Automatic Identification and Data Capture (AIDC) market will reach $100.5 billion by 2025. That figure represents a CAGR of 12.9 percent based on the size of the market in 2019. The AIDC market covers a wide range of identification and authentication technologies, including biometric…
A new report from Grand View Research is predicting significant growth for the vehicle access control market over the next several years, with biometric technology poised to play an important role. The overall market is forecast to reach a value of $17.3 billion by 2025, reflecting a CAGR of 10.6 percent for the 2019-2025 forecast…
MarketsandMarkets has released a new report that predicts that the Biometric System Market will hit $65.3 billion by 2024. That figure represents a CAGR of 14.6 percent from the firm’s $33 billion market valuation for 2019. The research firm attributes much of that anticipated growth to the general demand for strong multi-factor security solutions, and biometric…
The biometrics-as-a-service market is poised to see a CAGR of 18.2 percent from 2019 to 2026, according to analysis from Allied Market Research. The firm pegs the market’s value at $1.42 billion last year, and says it will reach a value of $5.37 billion at the end of its forecast period. The market is being…
Biometrics News – Iris Recognition MarketsandMarkets has released a new report that predicts that the iris recognition market will climb from $2.3 billion to $4.3 billion between 2019 and 2024. The figure represents a CAGR of 13.2 percent. The research firm attributes the projected growth to the need for strong security in both the public and the…
Biometrics News – Voice Biometrics Reports and Data has released a new report on the voice biometrics market, forecasting that the market will hit $3.91 billion by 2026. The figure represents a CAGR of 23.5 percent based on the firm’s 2018 valuation of the market, which stands at $0.69 billion. The prediction seems anomalously low…
Biometrics News – Fingerprint Recognition The fingerprint sensor market will grow from a value of $3.5 billion this year to $7.1 billion by 2024, according to a new forecast from MarketsandMarkets. This trajectory will reflect a CAGR of 15.3 percent. The report comes after Apple helped to prompt a shift in the mobile biometrics market…
Fortune Business Insights (FBI) has released a new report on the voice and speech recognition market, projecting that the market will grow from $6.89 billion to $28.34 billion between 2018 and 2026. The market is expected to display a CAGR of 19.8 percent during that period. FBI credits a number of different factors for the expected growth,…
Zion Market Research has released a new report that predicts that the global biometric technology market will hit $59.43 billion by 2025, climbing from $17.16 billion in 2018. The final figure represents a CAGR of 19.42 percent. The forecast is nearly identical to that of Grand View Research, which projected a $59.31 billion global biometrics…
The global biometric sensor market will see a CAGR of 9.3 percent between 2018 and 2025, according to a new report from Allied Market Research. The firm estimates a value of $944 million for the global biometrics market in 2017, and says that by the end of the forecast period it will reach a value…
A new Visiongain report is predicting that increasing international travel will lead to a thriving airport security market over the course of the next decade. The report pegs the current value of the market at $8.83 billion, and that figure is expected to grow through 2029 as airports work to keep airport passengers safe. Visiongain…
“The rising instances of identity thefts and cyber crimes are boosting the adoption of multifactor authentication and multimodal technology systems.” Frost and Sullivan is predicting that the expansion of national ID programs will fuel the demand for biometric technology in the Asia-Pacific region over the next few years. In its report, the research firm noted…
“At the moment, North America has the largest market for biometric healthcare tech, with Europe and Asia also displaying a strong interest in the technology…” A new report from Market Research Future is predicting that the global healthcare biometrics market will hit $5.6 billion by 2022, which would represent a CAGR of 22.3 percent since…
The research firm MarketsandMarkets has released a new report on the security solutions market, projecting that the demand for security products and services will hit $373 billion by 2022. That number reflects a CAGR of 10.2 percent between 2017 and 2022. The commercial sector will make up the largest portion of that market, with corporations…
Changing consumer demands and the emergence of the Internet of Things are helping to propel the global biometrics market, according to a new report from Frost & Sullivan. The firm says that the market is currently valued at $4.6 billion, and that it’s poised to rise to $11.1 billion by 2023, with a compound annual…