NEW YORK, Jan. 7, 2016 /PRNewswire/ -- This BCC Research report studies the global as well as regional markets for biometric technologies and devices, identifying newer markets and exploring the expansion of the present application market for various types of biometric devices. Includes forecast from 2015 to 2020.
Use this report to:
Identify newer markets and explore the expansion of the present application market for various types of biometric devices.
Examine each type of biometric technology, determine its current market size, and estimate the future markets for each type of biometric technology.
Analyze the market from the manufacturers' viewpoint as well as that of the final consumers.
Gain information on the use of biometric technologies in government and public sector institutions.
The global market for biometric technologies totaled $14.9 billion in 2015 and is expected to reach $41.5 billion by 2020 increasing at a compound annual growth rate (CAGR) of 22.7% from 2015 to 2020.
AFIS and fingerprint technologies as a segment should reach $8.8 billion in 2015 and $24.4 billion by 2020, with a CAGR of 22.8% through the forecast period.
The face, iris, vein, and voice technologies segment of this market will increase from $4.2 billion in 2015 to $11.9 billion by 2020, a CAGR of 22.9% for the period of 2015-2020.
STUDY GOALS AND OBJECTIVES
Biometrics is playing a major role in different fields, including medicine, science, robotics, engineering and manufacturing. Biometrics offers great value to various allied industries. With the recent advances in mobile biometrics, biometrics will be the technology of the future.
This report studies the global as well as regional markets for biometric technologies and devices, identifying newer markets and exploring the expansion of the present application market for various types of biometric devices. A realistic forecast has been made for the future market for different types of biometric technologies and devices.
These biometric technologies and products are studied, with attention to their global and regional values and these values are forecasted for the next five years. The application for each type of biometric technology is discussed in detail with a view to establishing global as well as regional usage. A future forecast has been made for such applications.
The report also studies the product life cycle and technology life cycle of various types of biometric devices and the methods employed by different manufacturers and users in maintaining ecological balance. Several types of new and recently developed biometric technologies are becoming more popular in various applications. These are also studied in this report. Finally, the report profiles the major manufacturers and suppliers of biometric devices. The mergers and acquisitions in this field are also studied and discussed.
REASONS FOR DOING THIS STUDY
There are constant improvements in the quality of biometric devices and products, as the major manufacturers continue to upgrade their products based on market needs. Also, new products and applications are being developed based on the continuous research and development work being carried out by major manufacturers in order to stay ahead of the competition. Successful operation of any company in a competitive market depends upon the identification of product opportunities with an eye to the company's strengths. It is, therefore, necessary to understand the size and growth rate of any opportunity and the competitive atmosphere in which the company exists. This report presents the ideal medium for understanding the many exciting and growing opportunities in the field of biometric technologies and devices, and will help any prospective manufacturer, distributor, or even user to succeed in this growing field.
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