Biometrics Market in MENA: Research Report, Trends, and Forecast 2015-2019
Biometrics is based on the behavioural and physiological characteristics of an individual that are difficult to replicate. Biometric technologies include voice recognition, palm geometry recognition, DNA identification, gait recognition, fingerprint matching, facial recognition, iris recognition, signature verification, and vein recognition. Also, these technologies are considered to be more reliable compared to physical devices and numeric codes. In addition, biometric traits cannot be lost or forgotten by an individual. Biometrics use verification and identification to authenticate an individual. Verification is a one-on-one process that matches the biometric traits of an individual against a particular template. However, identification is a process where the biometrics traits of an individual are matched against all templates in the database. With advances in technology, AFIS was introduced in 1986, which is being used by a number of law enforcement agencies to identify a criminal.
Technavio's analysts forecast the biometrics market in MENA to grow at a CAGR of 28.49% over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the biometrics market in MENA for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of biometric solutions, including hardware, software, integrated solutions, and services offered in the government sector. Revenues generated from the after sales services are not included to calculate the market size.
The report provides a detailed analysis of the following countries: Saudi Arabia, Turkey, UAE, Egypt, Syria, Iraq, Israel, Algeria, Morocco, Libya, and Sudan. Other countries include Iran, Yemen, Jordan, Palestine, Lebanon, Oman, Kuwait, Qatar, Bahrain, and Cyprus.
The market is highly fragmented with the presence of a large number of small and large vendors. A detailed product and feature comparison for the key leading vendors is provided in the report. In addition, it discusses the major drivers that influence the growth of the market in MENA. It also outlines the risks faced by vendors and the market at large, as well as the key trends that are emerging in the market.
Technavio's report, Biometrics Market in MENA 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Middle East and North Africa; it also covers the landscape of the biometrics market in MENA and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Biometrics Market in MENA 2015-2019
Technavio recognizes the following companies as the key players in the Biometrics Market in MENA: 3M, BioEnable, NEC, Safran and ZKTeco
Commenting on the report, an analyst from Technavio’s team said: “The BFSI sector is required to adopt biometric technologies to strengthen security and to protect customers' banking profiles. Banks and financial institutions in MENA are ready to adopt voice biometrics to confirm and verify the identities of their customers. In addition, voice recognition is expected to have greater adoption in banking for mobile banking because voice biometrics is affordable as it eliminates the need for any hardware investment.”
According to the report, the main growth driver of the market is the incidence of fraudulent activities in the past in government organizations and enterprises in the region, resulting in data loss and harm to critical infrastructures. Therefore, threats faced by organizations are prompting them to invest in biometrics security solutions to keep track of people entering the premises.
Further, the report states that the market is witnessing strong growth; however, it continues to face strong competition from alternative technologies and products such as token-based two-factor authentication, swipe cards, and software authentication. Additionally, these non-biometric solutions are cost-effective and user-friendly compared to biometric systems, which increases their acceptance level among enterprises.
3M, BioEnable, NEC, Safran, ZKTeco
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook