Technavio expects 15% growth in biometrics market
14 January 2019 16:26 GMT

The global biometrics market is expected to post a CAGR of over 15% during the period 2019-2023, according to the latest market research report by Technavio.

The firm said a key factor driving the growth of the market is the increasing need for surveillance and security. Rising concerns about terrorism, the surge in criminal activities, and other security threats globally have raised the need for advanced security solutions.

Biometric surveillance systems such as facial recognition, fingerprint recognition, voice recognition, iris recognition, and retina recognition are widely used by end-users such as by stadiums, law enforcement agencies, banks, and correctional departments to maximize security.

 

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