The global market for biometric technology is expected...
The global market for biometric technology is expected to have a valuation of $23.3 billion by 2019, said a biometric market report released Wednesday (http://bit.ly/1ywSefy). The estimate would be a compound annual growth rate of 20.8 percent based on the…
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market’s 2013 value, it said. “Increasing security concerns due to the rising terror attacks and crimes have created a need for high level security,” but “privacy concerns and [the] high cost of biometrics system[s] may hinder the growth of this market,” it said. NTIA has facilitated stakeholder meetings to determine best practices for the biometric industry’s facial recognition efforts (CD June 25 p12; June 24 p6).