Government Biometric Systems Market to Grow at a CAGR of 6.88% to 2024 in New Research Report at RnRMarketResearch.com
Dallas, TX (PRWEB) January 17, 2014 -- Global spending on government biometrics systems is set for healthy growth over the next ten years, according to this report, which forecasts market growth at a CAGR of 6.88%, primarily driven by the central role being played by the requirement for verification of digital identity, and the increasing reliance on digital transactions where identity verification is key for successful operation; these factors are compounded by the increasing availability of suppliers that are capable of delivering low cost, effective biometric systems.
The market for biometric systems is only now entering a phase of intense competition and innovation, which is expected to further encourage investment in this sector as suppliers vie for a share of the market from high spending countries. At the same time, a converse trend is seeing suppliers seek to capture the budgets of governments less inclined to make significant investments in biometric technology through the development of devices in lower price bands. Consequently, the global market is set to value US$56.1 billion over the next decade.
Complete report is available at http://www.rnrmarketresearch.com/the-global-government-biometric-systems-market-2014-2024-market-report.html.
This report offers detailed analysis of the global government biometric systems market, with the identification of market drivers augmenting its provision of historic and forecast data for the next decade. Together with its investigation of the developments and challenges in the industry, analysis of key markets, major programs, and the competitive landscape, along with SWOT analysis of the industry as a whole, this report should be considered the definitive informational resource for those with a stake in the global government biometric systems market seeking to secure growth whilst minimizing risk.
KEY MARKET DRIVERS
To capitalize on the opportunities presented by market growth, organizations with a vested interest in the global ammunition market must remain sensitive to the key drivers of the market, thereby facilitating informed business decisions that maximize profits with minimized risk.
E-Passport & National Identity Card Programs
The global governmental spending on biometric programs and corresponding systems is mainly driven by the numerous e-passports and national identity card programs underway in various countries and projects slated in the near future. The US, and European nations including the UK, Germany and France, were the early adaptors of biometric technology; this was employed for a variety of purposes, including border control, airport security, identity security, and law enforcement.
Increasing instances of terrorism around the world are compelling governments – especially those of potentially vulnerable nations, such as the US, UK, Russia, and India – to introduce secure biometric passports and electronic documents, which prove instrumental in checking the entry of hostile forces into countries through the borders or airports. These national identity and biometric passport issuance programs involve huge investment, and will drive the market significantly over the next decade.
Technological Upgrades & Advancements
Biometrics is a dynamic industry, insofar as rapid technological advancements are resulting in sustained evolution of numerous new technologies. These are offering users enhanced security and automation capabilities, and are therefore attracting substantial investment, especially from more affluent European countries such as the UK, France, and Germany. Some of these technologies include: fingerprint, face, iris, voice, and vein recognition.
Further advances are coming in the shape of mobile biometrics, which brings the use of biometrics to smart-phones and other mobile devices; this is attractive for organizations that want to provide their staff with global remote access to sensitive information.
Combined with the growing fraternity of nations rolling out e-passports, these technological advances are set to drive substantial growth in the global government biometric systems market to 2024.
Reasons to Buy:
• Offers detailed analysis of the market for government biometric systems over the next decade
• Facilitates clear understanding of market opportunities and entry strategies to gain or grow market share in the global government biometric systems market
• Provides a comprehensive understanding of the competitive landscape of the market, including key domestic and foreign defense companies, key alliances, and strategic initiatives
• Offers a clear understanding of market drivers, and actionable insight on forthcoming developments that will shape the landscape of opportunity for the foreseeable future
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Priyank Tiwari, RnR Market Research, http://www.rnrmarketresearch.com/, +1 (888) 391-5441, [email protected]
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