Research and Markets has announced the addition of Opportunities in Biometric Application Market (2005-2007) to their offering.
There is an increased public awareness about biometric technologies since the 9/11 and London terrorist attacks incidents. The reason being, biometrics would very soon become an important integral part of security systems. Biometric technology would be used by governments and private enterprises all over the world to identify persons in high security areas to stop unauthorized access. Several government legislations have made mandatory, the deployment of biometric security solutions. In addition, industry conglomerates have laid emphasis on setting international biometric standards.
Governments and private enterprises have opted for a sanction of $1.2 billion spread over 2007 towards world biometric technology expenditure. As this technology becomes more advanced and skilled, prices will fall that will hurl the market uptake. It is also estimated that with an average annual growth rate of 29.1% the world biometric market would reach $3.4 billion by 2007. This will predominantly include finger scan technology (59.4%), facial and iris scanning (13%), keystroke (0.4%) and signature scans (2.7%).
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