DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/h9cl2g/biometrics_market) has announced the addition of the "Biometrics Market in MENA: Research Report, Trends, and Forecast 2015-2019" report to their offering.
The biometrics market in MENA to grow at a CAGR of 28.49% over the period 2014-2019.
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 includes a discussion of the key vendors operating in this market.
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.
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 Cogent
- ZK Teco
Other prominent vendors
- 4G Identity
- BioEnable Technologies
For more information visit http://www.researchandmarkets.com/research/h9cl2g/biometrics_market