SOURCE: MarketResearch.com

MarketResearch.com

April 03, 2012 05:08 ET

Market Research Projects Biometrics Market at $11.2 Billion by 2015

ROCKVILLE, MD--(Marketwire - Apr 3, 2012) - MarketResearch.com has announced the addition of the new report "Global Biometrics Technology Market (2010 - 2015) Market Forecast by Products, End-User Application & Geography," to their collection of Biometrics market reports. For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Global-Biometrics-Technology-Forecast-Products-6869146/

The biometrics market is estimated to grow from $4,217.2 million in 2010 to $11,229.3 million in 2015, at an estimated CAGR of 21.6% from 2010 to 2015. The growth of the biometrics market is mainly due to increasing concerns of the countries in terms of strengthening national security.

Amongst all the biometrics modalities, automated fingerprint identification system (AFIS) market was estimated to generate the highest revenue of $1,372.4 million in 2010 and is expected to reach $3,283.7 million in 2015, with a CAGR of 19% from 2010 to 2015. Adoption of AFIS in national ids and civil identification is the prime reason behind the growth of AFIS market. However, the IRIS vein and face market is expected to grow with at a CAGR of 27.5%, 25.4 and 24.2 respectively from 2010 to 2015.

For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Global-Biometrics-Technology-Forecast-Products-6869146/

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