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Saudi Arabia Biometric Systems Market Forecast and Opportunities, 2020

  • Date Submitted: 10/27/2015 01:52 AM
  • Flesch-Kincaid Score: 10.3 
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27 Oct, 2015, Navi Mumbai, India: Marketreportsonsaudiarabia.com presents a new report on “Saudi Arabia Biometric Systems Market Forecast and Opportunities, 2020” Growing need for authentication & verification, and government regulations & initiatives mandating use of biometric technologies are the key factors driving biometric systems market in the country.

Saudi Arabia Biometric Systems Market Forecast and Opportunities, 2020 Saudi Arabia biometric systems market is one of the fastest growing markets in the Middle East. Growing need for authentication & verification, and government regulations & initiatives mandating use of biometric technologies are the key factors driving biometric systems market in the country. Moreover, increasing focus on providing more secure environment, reducing human errors in time & attendance, and maintenance of biometric database for every expatriate and immigrant, is driving physical verification of individuals across different verticals, which includes extensive use of biometric devices. Expanding use of multi-modal biometric systems, adoption of new technologies, and anticipated decline in average selling prices, are projected to further escalate the demand for biometric devices in the country over the forecast period.

According to “Saudi Arabia Biometric Systems Market Forecast & Opportunities, 2020”, biometric systems market in Saudi Arabia is projected to grow at over 22% CAGR through 2020. This high growth is attributed to the surging demand for better biometric technologies in the country, from government, BFSI, Consumer Electronics, and energy (specifically oil & gas) sectors. Further, use of biometric mobile applications is a major trend emerging in Saudi Arabia biometric systems market, aimed at providing a more secure environment for e-commerce and mobile banking. Saudi Arabia biometric systems market, which includes manufacturing and supply of biometric devices, is majorly dominated by global players, such as Morpho...

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