The Russian biometrics market is set to achieve revenues up to US$393 Million by 2018, according to new research.
Research and Markets' latest offering looks at market forecasts and opportunities to 2018.
The report says that the Russian biometrics market has been driven through government initiatives, security threats, IT security spending and growth in the construction market.
In particular an abundant increase in access control/attendance systems has been recorded thanks to transient growth in Russia's construction market, particularly for commercial and residential security applications.
Major events such as the Sochi Winter Olympics 2014 & FIFA World Cup 2018 in Russia are further anticipated to create the demand in physical access and logical access control systems during 2013-18, the report predicts.
In 2012, fingerprint recognition technology accounted for the highest revenue share in which physical access/attendance and logical access control applications were dominant.
The Russian Federation introduced biometric passports in 2009 and has already issued 12 million to its citizens.