NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/09/22 - Biometric industry anticipated to grow at a CAGR of 22% globally during 2011 and 2013, says RNCOS.
As per our latest research report “Global Biometric Forecast to 2012”, increasing security concerns all over the world are driving the biometric market. Today, biometric technology is used in more applications and industries in comparison to the past.
Over the years, the biometric technology has developed from a new technology used in a narrow band of closed environment applications to a useful, practical, fit-for-purpose tool used across a wide range of industries and in a variety of applications. With the escalating demand for more integrated security solutions from vertical sectors, the market is set to grow at a CAGR of around 22% between 2011 and 2013.
Both public and private sectors worldwide are witnessing rapid adoption of biometrics as an accurate, reliable, and cost-saving way for better and advanced security surveillance. Countries across the world are deploying biometrics as a better mean to identify their citizens. Further, our research reveals that various technologies are anticipated to account for around 86% of the global biometric market in future. These technologies have been discussed in our report.
In all, it is anticipated that the market perspective will be driven by core technology enhancements and improved business practices on the part of biometric vendors to ensure the market growth. Our report offers an extensive research on various biometric technologies, acknowledging some of their widely used applications and contextualizing the role of biometrics as an important part of security suite available to the government as well as the private sectors. The report has also discussed various major biometrics initiatives taken by some of the countries across the world.
Our research report provides an in-depth analysis of the key growth factors, industry restraints, and its working. Further, it has elaborated on current and future scenario of the biometric market in various regions, underlining the future potential areas and key issues crucial for the market development. In addition, business standards of biometric industry are discussed. Besides, our study of the competitive landscape of the industry presents an unbiased market picture that will prove decisive for clients.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.