NEW YORK, Sept. 18, 2017 /PRNewswire/ -- Global Government Biometrics Market 2017-2027
Rapid technological advancements in the field of biometric recognition and identification systems along with advancements in computing and other supporting fields, fueled companies spending significantly on research and development in the biometric systems domain. Such technical accomplishments have stemmed from a strong emphasis on the application of such technologies by national governments, which have in turn resulted in a sharp decline in prices of scanning devices and associated components, in the process providing further impetus to investment in the sector.
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Global government biometrics market will value US$4.3 Billion in 2017 and reach US$7.9 Billion in 2027, registering a CAGR of 6.37% over the forecast period (2017-2027). The cumulative market for global expenditure will reach US$62.8 Billion over the same period. The market demand is primarily driven by increasing demand for e-Governance services worldwide, growing reliance on biometrics for identity verification and the availability of suppliers that are capable of delivering low cost effective biometric systems.
Fingerprint recognition segment is expected to account for 36.4% of the market owing to its large scale implementation in various government projects across the globe. Fingerprint recognition segment is followed by the facial recognition segment, with a share of 31.0%. Iris/ retinal identification, signature recognition, and other technologies account for 14.7%, 10.8%, and 7.0% of the total market share respectively.
North America will continue to dominate the Government Biometric market, with a 47.9% share of the market's revenues over the forecast period, followed by the Asia-Pacific with a share of 18.0%, and Europe with 16.3%. The Middle East is projected to become a highly attractive market for Government Biometric due to the volatility of political conditions and the ongoing threat of terrorism. It is set to account for a share of 8.0%, followed by Latin America and Africa with a collective share of 9.8%.
The report "Global Government Biometrics Market 2017-2027" offers a detailed analysis of the global government biometrics market over the next 10 years, providing data pertaining to market size and forecasts. It covers key technological and market trends by analyzing factors influencing the demand for government biometrics equipment.
In depth, this report provides the following analysis -
- Overview: Snapshot of the government biometrics market over 2017-2027, including demand drivers, trends, and challenges. The report breaks down spending by region and market segment.
- Market Dynamics: Including insights into technological developments in the government biometric market and a detailed analysis of the changing preferences of international governments. It also analyzes changing market structure trends and the challenges faced by the market participants.
- Segment Analysis: A look at the government biometrics market from a segmental perspective, including a detailed analysis of factors influencing the market in each sector.
- Regional Review: An overview of the modernization patterns and budgetary allocation of the top countries within a region.
- Regional Analysis: Insights into the government biometrics market delivered from a regional perspective, including a breakdown of factors specific to each region.
- Trend analysis - key defense markets: Analysis of the key trends in each market by region and segment according to demand.
- Key Program Analysis: Details of the leading programs in each segment expected to be executed over the forecast period.
- Competitive Landscape Analysis: An evaluation of the government biometrics market's competitive landscape, featuring an overview of key defense companies, alliances, strategic initiatives, and financial analysis.
Companies mentioned in this report: Precise Biometrics, HID Biometrics., 3M Cogent, Giesecke & Devrient (G&D), Gemalto, SecuGen Corporation, Fujitsu, Computer Sciences Corporation, SUPREMA, Morpho, Cross Match Technologies, Inc.,, NEC Corporation, Smartmatic International Corporation
- The Global Government Biometric market will value US$4.3 billion by the end of 2017 and is expected to register a CAGR of 6.37%, to reach US$7.9 billion in 2027.
- In terms of segments, the fingerprint recognition segment is expected to account for 36.4% of the market owing to its large scale implementation in various government projects across the globe. Fingerprint recognition segment is followed by the facial recognition segment, with a share of 31.0%. Iris/retinal identification, signature recognition, and other technologies account for 14.7%, 10.8%, and 7.0% of the total market share respectively
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the government biometrics market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different biometrics segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global government biometrics market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the biometrics market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top biometrics service providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
Read the full report: https://www.reportlinker.com/p05100999
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