|By Business Wire||
|February 10, 2014 12:28 PM EST||
Research and Markets (http://www.researchandmarkets.com/research/n3z5tz/brazil_biometrics) has announced the addition of the "Brazil Biometrics Market: 2014 - 2019" report to their offering.
The market for these technologies in Brazil is altogether projected to reach $998.3 Mn in 2019 from $260.3 Mn in 2014 at an estimated compounded annual growth rate of 30.8%.
The report covers biometric technologies such as fingerprint, iris recognition, face recognition, voice recognition, hand geometry, and signature scanning and provides their market trend and forecast in terms of volume (000 units) and revenue ($ Million) from the year 2011 to 2019. The CAGR is given from the year 2014 to 2019. The market analysis of these technologies for end use industries such as government, consumer electronics, travel security and tourism, healthcare, and banking and finance is made in terms of market revenue along with their trends and forecast.
Advancements in technology, online activities, growing use of personalized computers and gadgets, growing incidences of identity frauds, and alarming crime rates in Brazil are leading to increased usage of biometric equipment in the region. Additionally, tightening security norms, implementation of smart cards for driving license, money transactions, e-passports, e-visa, and other issues such as tourist safety, insurance claims authenticity, new and improved healthcare service standards, and upcoming FIFA and Olympics event are all the macro issues driving growth in the market. Inhibitors such as mutual competition among biometric technologies over precision and accuracy and their high cost have low impact on the growth of the market.
Brazil is among the major forerunners in economic and infrastructure development across the globe and thus presents a wide opportunity for all the players active across the value chain such as component manufacturers, system manufacturers, technology developers, software providers, integrators, distributors, retailers, and aftermarket service providers. Brazil market being on early phase of industry cycle is less organized domestically and much of the market demand is supplied by foreign company products. However, in nearing future with growing awareness and demand new domestic players are likely to emerge and new product developments could be witnessed in the region.
Key Topics Covered:
2 Market Overview
3 Brazil Biometrics Market
4 Vertical Market
5 Regional Market
For more information visit http://www.researchandmarkets.com/research/n3z5tz/brazil_biometrics