Middle East & Asia Likely to Rule Biometrics Market
Written on 11:26 PM by AKS
The world market for biometric products and services is surging ahead with opportunities, trends and growth drivers, as more governments and private firms implement management programs, criminal and employee IDs, as well as surveillance initiatives. In the coming years, Asia and the Middle East will account for the largest share in the biometrics market, which is expected to reach more than Dh27 billion globally by 2012.
In the Middle East, companies and governments are increasingly using biometric security systems to verify the identity of individuals at corporate and government sites, as well as at border points and airports. The regional biometrics market was estimated to be worth almost $500 million (Dh1.84 billion) in 2007, according to published reports.
Only recently, the UAE government spent about $55 million on cutting-edge biometrics technology to implement the National ID system, which in turn will generate some revenues.