The EMEA Biometrics Market Offers Significant Growth Opportunities
The biometrics market has gained steady momentum in the EMEA region (Europe, Middle East and Africa) in recent years. The various government projects newly issued are expected to counterbalance the negative impact that the current economic recession is having on the commercial and financial sectors. Infrastructure security developments like e-Passports, the national ID programme, as well as seaports, and airports will be driving the market.
Frost & Sullivan estimates the EMEA biometrics market at €216.1 million in 2008 and is anticipated to reach €1,058.0 million by 2015, growing at a compound annual growth rate (CAGR) of 25.5 per cent from 2008 to 2015.
The International Civil Aviation Organisation (ICAO) 9303 mandate and European Commission (EC) 2252 passport regulation will likely push the deployment of biometric passports. Biometric national IDs, driving license and healthcare card schemes are also expected to gain momentum.
Customers still perceive biometric solutions as key value additions to their security deployments; however the severe budget cuts on spending for high capital-intensive investments in the current economic climate have negatively impacted the market.