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Russia biometrics market: Over $390 million industry by 2018

Press Release   •   Jul 16, 2013 12:00 BST

The Russia biometrics market is set to achieve revenues up to USD 393 Million by 2018. Central and North Caucasus regions are anticipated to grow promptly with effect from Sochi winter Olympics in 2014 and growth in IT sector resulting accession in imports of security systems during 2013-18. In 2012, fingerprint recognition technology accounted the highest revenue share in which physical access/attendance and logical access control applications were dominant. Russian Federation has already introduced its biometric passports since 2009 which has already issued 12 Million passports to its citizens.

Russia biometrics market has been driven through government initiatives, security threats, IT security spending and growth in construction market, whereas the restraints being observed as slow growth in economy and price sensitivity among the customers. An abundant increase in access control/attendance systems has been recorded with effect from transient growth in Russia's construction market, particularly for commercial and residential security applications. The major approaching events such as Sochi Winter Olympics 2014 & FIFA World Cup 2018 in Russia are further anticipated to create the demand in physical access and logical access control systems during 2013-18.

For more information on the Russia biometrics market, see the latest research: Russia Biometrics Market Research

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