NEW YORK, Feb. 7, 2017 /PRNewswire/ -- The biometrics market has reached a tipping point. Driven largely by the confluence of organizations' desires to better authenticate or identify users and users' distaste for knowledge-based systems (password and challenge questions), biometrics is quickly working its way into consumer, industrial, and government systems. The market is driven by use cases, though there traditionally has been a demarcation between consumer and enterprise uses cases, with consumer-facing use cases encompassing authentication, and identification uses falling into the enterprise or government segments. This dynamic is starting to change, however, as seen in financial institutions' use of biometrics to allow consumer and corporate users toauthenticate to online banking systems with their voices or with their eyes, in place of keying a personal identification number (PIN).
Tractica's research indicates that the biometrics market will post a 10-year (2016-2025) cumulative revenue of $69.8 billion at a compound annual growth rate (CAGR) of 22.9%. The Asia Pacific region will be the largest market, due to a combination of massive population, several strong or strongly growing economies, and a growing demand for biometric solutions to manage large initiatives, such as national ID programs. Total global revenue in the final year of the forecast period, 2025, will reach $15.1 billion.
This Tractica report provides detailed 10-year market forecasts for biometrics hardware and software during the period from 2016 through 2025. The report is based on a comprehensive and detailed analysis of 142 biometrics use cases, each of which includes business function, industry, and modality. Each use case is further analyzed by world region and is based on OECD income levels for each country in a given region. This granular approach provides a well-grounded, realistic view of the market opportunity by avoiding the use of identical assumptions for the most developed economies and still-developing economies.
Key Market Forecasts
- Annual Biometrics Revenue by Region, World Markets: 2016-2025
- Annual Biometrics Revenue by Selected Use Cases, World Markets: 2016-2025
- Annual Biometrics Revenue by Modality, World Markets: 2016-2025
- Annual Biometrics Revenue by Industry, World Markets: 2016-2025
- Consumer-Based Device Shipments by Region, World Markets: 2016-2025
- Non-Consumer-Based Device Shipments by Region, World Markets: 2016-2025
- Hardware Device Shipments by Region, World Markets: 2016-2025
- Software Unit Licenses by Region, World Markets: 2016-2025
- Annual Device Shipments by Region, World Markets: 2016-2025
- DNA scan
- Eye white recognition
- Facial scan
- Facial thermography
- Fingerprint recognition
- Gesture recognition
- Hand geometry
- Iris image
- Keyboard dynamics
- Retina scan
- Vein recognition
- Voice recognition
- Call Center
- Law Enforcement
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Read the full report: http://www.reportlinker.com/p03423898-summary/view-report.html
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