A 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.