(PRWEB) April 15, 2014
The ‘Global Biometrics Technology Market - Market Forecast by Products, End-User Application and Geography’, analyzes the biometrics market by different biometrics technologies and applications. It studies the major drivers, restraints, and opportunities in the regions. Geographic regions studied in this report include North America, Asia, Europe and Rest of World (ROW).
The biometrics market is estimated to grow from $4,217.2 million in 2010 to $11,229.3 million in 2015, at a CAGR of around 21.6%, from 2010 to 2015. The growth of the market is mainly due to increasing concerns of the countries in terms of strengthening national security.
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Amongst all the biometrics modalities, Automated Fingerprint Identification System (AFIS) market is estimated to generate the highest revenue of $1,372.4 million in 2010 and is expected to reach $3,283.7 million in 2015 at a CAGR of 19%, from 2010 to 2015. Adoption of AFIS in national IDs and civil identification is the prime reason for the growth of the AFIS market. However, the IRIS, vein and face markets are expected to grow with at a CAGR of 27.5%, 25.4 and 24.2 respectively, from 2010 to 2015.
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