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Summary
Middle East region is emerging as a key growing region in global biometrics market, where countries such as UAE, Turkey and Saudi Arabia are exhibiting tremendous growth in overall biometrics market. Amongst all Middle East countries, Saudi Arabia is one of the fastest growing biometrics markets. The market for biometrics in Saudi Arabia is incrementing on the back of increasing IT spending, growth registered in biometric based access control systems, and increasing adoption of biometrics technologies across industry verticals. “Saudi Arabia’s Biometrics market” is in its nascent stage, where market is yet to witness swashbuckling growth. In global biometrics market, contribution of Saudi Arabia was mere 3% in 2013. Lack of awareness is the major factor, which has restricted the penetration of biometrics systems in the country. However, in the forecast period, the market for biometrics in the country is anticipated to register growth on account of increasing investments, government projects, expansion of BFSI and IT/ITeS sector, and introduction of e-passports & visas. Saudi Arabia’s Biometrics Market is projected to reach $1.5 billion by 2019. The growth of the market would be majorly controlled by fingerprint biometrics technology. Ease of installation & usage and lower cost have led for the rapid adoption of fingerprint biometrics technology systems in the country. Over the next five years, fingerprint biometrics technology is expected to maintain its dominance, but, other technologies such as facial and IRIS recognition would exhibit higher growth rate, primarily driven by government projects. Riyadh, Jeddah, Makkah and Madinah are witnessing such developments on larger scale. Urban development, infrastructure expansion, flow of foreign investments and establishment of new enterprises across various verticals in these areas have led for the adoption of biometrics technologies, especially fingerprint biometrics in the country.
Key Highlights of the Report
1. Market Revenues by Biometrics Technologies (Fingerprint, Facial, IRIS and Others).
2. Market Volume by Biometrics Technologies.
3. Historical data of Biometrics Technologies for the Period 2010-2013.
4. Market Revenue Size & Forecast for Biometrics Technologies until 2019.
5. Market Volume for Biometrics Technologies until 2019.
6. Market Size & Forecast by Applications (Government, Travel & Transportation, Banking & Finance, Retail, Hospitality, Oil & Gas and Others)
7. Market Size & Forecast by Regions
8. Market Drivers and Restraints
9. Market Trends
10. Competitive Landscape
11. Key Strategic Pointers
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