Global Government Biometrics Market 2017- Develop Strategies Based on the Latest Regulatory Events 2027
SUMMARY
WiseGuyReports published new report, titled “Global Government Biometrics Market”
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. A very strong impetus to the market for biometric systems has been delivered by the large scale implementation of these systems in large defense spending countries such as the US and the UK. These countries have been the targets of international terrorist and insurgent attacks such as the September 2001 attack on the World Trade Center in the US, and the July 2005 London bombings, which resulted in the implementation of biometric identification programs and border control projects on a large scale. Such a broad implementation of biometric systems and the increasing interest of countries facing similar threats in these systems then resulted in the reduction of costs for biometric systems, and an increase in the number of suppliers available.
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Given the recent surge in demand for these systems, especially in facial recognition enabled video surveillance, mobile devices and solving crimes, will also help to drive the market. 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 in this domain, based on price and associated services offered. However, as some countries will dedicate a lower budget to these systems, suppliers have plans for devices in lower price bands, furthering the use of this technology and enabling smooth technology adoption and ease of use.
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Posted by
Vivian Dsena
on Thursday November 16 2017, 3:45 AM EST.
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