|
|
Market Growth
Over the past few years, the Biometrics industry has
experienced massive growth, resulting in a myriad of new
applications as the demand for these next generation
security products has increased. This trend is forging
ahead at a convincing rate, proving to be a mainstream
viable security technology for the future. In
particular, Governments around the world are leading the
surge into biometric applications. From USB
fingerprint readers as secure computer log-on devices
that replace passwords to biometric passports and
immigration control, the way of the future in security
control is clear.
U-S based research firm International Biometric Group
predicts that the world-wide Biometric market will grow
from the $US 58.4 million in 1999, to over $US 5 billion
per year in 2007. The benefits will include
reduced costs, increased security and a rapidly growing
range of applications for domestic, commercial and
Government use. |
|
|
|
Fear
of identity theft and
personal information
security threats
continue to rise fueling
the growth of the
biometrics
market all over the
world. The international
Biometric Group (IBG), a
New York market research
firm, estimates the
U$1.6 billion global
biometric market will
grow to U$5.3 billion by
2010.
Biometric Market
Forecast for the next 5
years.
International Biometric
Growth by Continent.
(Unit :
million US Dollar)
|
|
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
|
South America
|
137.0 |
186.7 |
254.5 |
345.3 |
431.7 |
515.8 |
|
Asia-Pacific
Rim |
372.4 |
488.4 |
640.9 |
836.8 |
1,006.9 |
1,158.0 |
|
Middle East /
India |
160.0 |
226.9 |
321.0 |
450.6 |
581.5 |
715.9 |
|
Europe /
Australia |
257.0 |
338.8 |
446.9 |
586.7 |
709.9 |
821.1 |
|
North America
|
524.8 |
688.6 |
904.2 |
1,181.4 |
1,422.4 |
1,637.0 |
|
Africa
|
87.7 |
126.2 |
180.8 |
256.8 |
334.7 |
415.8 |
(Source :
IBG, 2005)
Percentage
of biometric market by
Technology.
 |
|
|
|
|
|
