Published on : May 15, 2017
Albany, New York, May 15, 2017: According to a latest study, the biometrics applications are gaining popularity in the defense sector. Additionally, the growing threat of national security due to rise in a number of illegal migration has become one of the primary drivers assisting the growth of the global military biometrics market. To explore the market growth prospects in the coming years, a study titled “Military Biometrics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” has been recently broadcasted to the broad database of Market Research Hub (MRH). This study delivers a comprehensive analysis of the global market, by focusing on some major regions, such as North America, Europe, Asia-Pacific, Middle East & Africa and Latin America.
According to the study key findings, the global biometrics market is estimated to witness rapid growth at an impressive CAGR of 7.4% during the forecast period. Also, the market’s evaluation will reach US$10.62 billion by the end of 2025, from US$5.65 in 2016. The study highlights various market dynamics that are responsible for this market growth. It includes market drivers, trends, opportunities and market challenges. The demand for military biometrics is predominantly increasing to offer more technologically advanced systems of ensuring security against terrorist actions. Apart from that, the rising concern for illegal migration in countries such as the U.K. and the U.S. are causing into government focusing on upgrading the military and defense facilities with biometric authentication. Due to this, North America region has been analyzed to dominate the military biometrics market.
Initially, the research highlights the market overview of military biometrics along with its segmentation by types and regions. Biometric systems are becoming gradually popular in wearable devices including smart watches, eye glasses and fitness bands. These devices are equipped biometric identification abilities such as heart rate sensors & blood pressure monitors.
In the next part, the global military biometrics market can be segmented by types in fingerprint recognition, facial recognition, iris recognition and others. Of these, the fingerprint recognition segment has been analyzed to be the largest market. Also, the accuracy of iris recognition and facial recognition is also witnessing steady growth due to their wide use in military biometric applications. Countries such India and China are gradually investing towards upgrading defense facilities with secure authentication which is expected to drive the market for military biometrics significantly.
Later, the major vendors in the global Military Biometrics market are also profiled, which includes NEC Corporation (Japan), 3M Cogent, Inc. (United States), Aware, Inc. (United States), Crossmatch (United States), M2SYS Technology (United States), Safran Identity and Security (France), BIO-Key International, Inc. (United States), Fulcrum Biometrics LLC (United States) and HID Global Corporation (United States) among others.
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