The ongoing global threat of terrorism and illegal migration has resulted into governments focusing on upgrading of defense and military facilities with biometric authentication. Military Biometrics Market is expected to be a lucrative business opportunity in the upcoming years and is the focus of a new market report recently added to the gigantic online repository of Market Research Reports Search Engine (MRRSE) with a title “Military Biometrics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”. The report provides a comprehensive analysis of the current market state as well as the future outlook of the global military biometrics market.
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The report predicts that the global market for military biometrics will surge at a CAGR of 7.4% from 2017 to 2025. Rising at this rate, market is anticipated to reach a value of US$ 10,620.6 million by the end of 2025 from US$ 5,650.5 million in 2016. Moreover, the report provides a meticulous qualitative analysis of factors responsible for driving and restraining the market’s growth, along with forthcoming opportunities in the market. It also includes porter’s five forces analysis, market attractiveness analysis and market share analysis of major vendors, thus highlighting a complete study of the overall competitive scenario in the global military biometrics market. Also, the market overview section of the report identifies key market dynamics such as drivers, restraints, risks and opportunities that currently have a strong impact on the global market and could sway the market over the upcoming years. All these information will help market participants in taking strategic decisions to strengthen and expand their position in the global market.
Apart from the above elements, for better analysis, the global market is segregated on the basis of type and geographic regions. Based on type, the global military biometrics market is segmented into fingerprint recognition, facial recognition, iris recognition and others. The fingerprint recognition segment is expected to be the largest market during the forecast period. Likewise, the major geographical regions analyzed in the report are North America, Asia Pacific, Europe, Middle East & Africa and Latin America. Among these regions, North America is the largest market in the global military biometrics market. The serious threat of illegal migrations from Mexico has compelled the U.S. government to upgrade their authentication systems in border security.
The key vendors operating in the global military biometrics market are M2SYS Technology (United States), 3M Cogent Inc. (United States), Crossmatch (United States), Safran Identity and Security (France), Aware Inc. (United States), BIO-Key International Inc. (United States), NEC Corporation (Japan), Fulcrum Biometrics LLC (United States) and HID Global Corporation (United States) among others.
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