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Study: Govt Security Initiatives to Drive Biometrics Tech Demand Through 2020

Study: Govt Security Initiatives to Drive Biometrics Tech Demand Through 2020 - top government contractors - best government contracting event

biometricsA Grand View Research study forecasts the biometrics market’s value will reach $24.59 billion in the next six years as more organizations adopt the technology for extra security, Biometric Update reported Wednesday.

Stephen Mayhew writes the market report predicts government security programs in North America and the Asia Pacific will fuel biometric investments through 2020.

Researchers found the non-automated fingerprint identification system segment accounted for approximately 35 percent of global market share in 2013, while the transportation and logistics sector held a 25 percent market share during the same year.

Grand View Research also projects demand for AFIS’ civilian applications to grow in the coming years.

The adoption of biometrics technology by defense, banking and electronic commerce organizations is also forecast to drive the market, according to Mayhew’s article.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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