Published Date : Dec 26, 2016
Albany, NY, Dec 26, 2016: The report, titled “Global Military Biometrics Market 2016-2020.” It includes a comprehensive reports of all the critical aspects related to the global biometrics market such as its dynamics, technology and regional segmentation, and competitive landscape. According to the report, the market is poised to expand at a CAGR of more than 7.0% from 2016 to 2020.
The rising concerns regarding security are primarily augmenting the global military biometrics market. Biometrics technologies are being increasingly used for homeland security to identify criminals. Moreover, the increasing influx of refugees has created a pressing need for governments to deploy security systems across their respective territories, thereby bolstering the growth of the market. On the flip side, constraints related to price, design, and data hacking are hampering the growth of the market.
On the basis of technology, the global military biometrics market is segmented into facial, iris, and fingerprint. Facial will continue to be the leading segment until 2020. The growth of the segment can be attributed to the increasing adoption of facial recognition technology across border security and surveillance. The recent rise in illegal immigration and terrorist activities is leading to the burgeoning demand for improved surveillance across country borders. Several governments worldwide are promoting installation of surveillance cameras with facial recognition in order to mitigate crime.
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The regional markets analyzed in the research report are the Americas, Europe, the Middle East, and Africa (EMEA), and Asia Pacific. The market will be led by the Americas throughout the forecast period. Much of the region’s growth is fuelled by the rising concerns regarding security, particularly in the U.S., where the government is pouring funds in biometric technologies in order to enhance their usage across agencies and for military-operated overseas missions. Moreover, countries such as Mexico and Canada are increasingly adopting biometric systems to gather data of tourists visiting their countries and to identify potential criminals.
Companies in the global military biometrics market are increasingly focusing on enhancing product offerings in order to stay ahead in this highly competitive arena. The market features a large number of regional and international players competing in terms of quality, cost, and reliability. Mergers and acquisitions and extensive research and development are some of the commonly adopted strategies by the existing players to gain a competitive edge over their contemporaries. Factors such as global economic recovery and growing requirement of fingerprint recognition in mobile phones are attracting new players to the market.
The leading players in the global military biometrics market are Crossmatch, NEC, M2SYS Technology, 3M Cogent, and Safran. Some of the prominent players are AGNITIO, 4Gid, BIO-key International, Aware, Fujitsu, Corvus Integration, Gemalto, Fulcrum Biometrics, HID Global, Giesecke & Devrient, Precise Biometrics, Northrop Grumman, Suprema, and Thales.
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