Brazil Poised to Emerge as Key Contributing Country in Global Biometrics Market
October, 2014
Brazil biometrics market is emerging as one of the fastest growing biometrics markets in the global landscape. Though, the market is still in the nascent stage but is anticipated to gain tremendous growth over the next five years. Increasing security spending, IT spending, rising security concerns, data theft, international sporting events, and government projects are spurring the demand for various biometrics technologies in Brazil.
According to 6Wresearch, Brazil Biometrics market is projected to reach $1.3 billion by 2020. Amongst all biometrics technologies, fingerprint biometrics technology has captured majority of the market share. Ease of usage, low cost and benefits over smart card based access control systems have fuelled the growth of fingerprint biometrics systems in the country. However, higher growth of iris biometrics technology is expected due to higher reliability and lower FAR & FRR.
Government projects such as national IDs, e-passports and driving license are playing vital role for the growth of biometrics market in Brazil. Also, Brazil being the host nation of international sporting events has further boosted the demand for biometrics systems in the country. For instance, during FIFA Worldcup 2014, facial recognition systems were deployed across various stadiums to enhance the level of security. Such initiatives are expected to continue in the forthcoming Olympics 2016, which would poise the market for biometrics technologies in the country.
In Brazil’s biometrics market, international players have dominated the market due to lack of local manufacturing of these systems in domestic market. However, in the forecast period, as the demand for these devices increases more number of local manufacturers would to step up in the market.
The report, “Brazil Biometrics Market (2014-2020)” estimates and forecast, overall Brazil biometrics market by revenue & volume, by technologies such as fingerprint, face, iris, hand, voice and signature. Market by applications such as government, security, travel & transportation, banking & finance, healthcare, and consumer electronics and regions such as North, South, North-East, Central-West and South-East. The report also gives the insights on competitive landscape, market share by company, price point analysis, company profiles, latest market trends, drivers, restraints and opportunities.
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http://www.6wresearch.com/market-reports/brazil-biometrics-bio-metric-market-share-forecasts-shipments-2014-2020-biometrics-technology.html
