Biometric market forecasted to grow in coming years
31 August, 2009
category: Biometrics
RNCOS, an industry research firm, has released a global biometric forecast that details the expected changes in the global biometric market over the next two and a half years. According to the report, a compound annual growth rate of 18% is expected from 2010 to 2012 due to growing identity theft and security concerns on both the commercial and government levels.
Other aspects of the market growth detailed in the report include looking at Africa and Middle-East as growing markets for the technology as well as law enforcement agencies across the globe. The use of biometric systems for civil and criminal identification are expected to continue to drive the market.