Report: Biometrics Market to Triple to $1.4 Billion by 2008
SAN ANTONIO — A Frost & Sullivan analysis reports the North American biometric applications market is expected to rise to $1.4 billion by 2008, almost triple the $527 million generated in 2004.
While traditional fingerprint technologies currently make up the largest portion of market revenues, new technologies such as facial recognition and iris scans hold the greatest potential for expansion, Frost says.
Frost & Sullivan research analyst Rob Allen said in a prepared statement that although the market would benefit from companies developing more than one biometric application, only 15 percent of the companies studied offered multiple types of biometric technologies.
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