forecast, government

Forecast: Global Government Biometric Systems Market

The Global Government Biometric Systems Market 2015-2025 (Market Reports Store)

Key Findings
◾The global biometric systems market is estimated to value US$4.4 billion in 2015 and increase at a CAGR of 8.70% during the forecast period, to reach a peak of US$10.2 billion by 2025.

◾The market is expected to be dominated by North America, followed by Asia-Pacific and Europe.

◾Fingerprint recognition is expected to account for the largest share of expenditure in the global Government Biometric Systems market going forward, followed by facial recognition and Iris.

That Compounded Annual Growth Rate (CAGR) is probably one of the lowest I’ve ever seen in the biometrics sector. It, however, doesn’t come as much as a surprise. The number of government customers is pretty much capped at around 200. Governments were some of the earliest adopters of biometric solutions, so most of the 200 potential customers are already in the market. Prices paid by these customers, generally, should be falling or stable. So, there are a whole host of reasons for this low estimate for growth in the government biometrics sector.

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