San Francisco, California, Feb. 7, 2015 (GLOBE NEWSWIRE) -- The global biometrics technology market is expected to reach USD 24.59 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for biometrics technology across various applications is expected to favor market growth over the next six years. Biometrics technology is used by several verticals in the private, public and commercial sectors to overcome security threats, which is expected to fuel market demand over the forecast period.
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Increasing demand in consumer electronics to enhance customer experience is expected to drive the biometrics technology market over the next six years. Implementation in e-commerce applications may enable secure transactions and can provide new opportunities to the biometrics technology market. High initial investment may hinder market growth over the forecast period.
Further key findings from the study suggest:
More information and insights about the Global Biometrics Market: http://www.grandviewresearch.com/industry-analysis/biometrics-industry
For the purpose of this study, Grand View Research has segmented the global biometrics technology market on the basis of application, end-use and region:
Biometrics Technology Application
Outlook (Revenue, USD Million, 2012 - 2020)
• Face
• Hand Geometry
• Voice
• Signature
• Iris
• AFIS
• Non-AFIS
• Others
Biometrics Technology End-Use Outlook (Revenue, USD
Million, 2012 - 2020)
• Government
• Defense & Security
• Banking & Finance
• Consumer Electronics
• Healthcare
• Residential
• Commercial
• Transportation
• Others
Biometrics Technology Regional Outlook (Revenue, USD
Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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