Market Forecast By Technology (Fingerprint, Facial, Iris, Hand/Palm, Multimodal, Voice, Vein and Other Biometrics), By Applications (Time & Attendance, Access control and Record Keeping), By Verticals (Government & Transportation, Healthcare & Hospitality, Commercial Office, Industry & Manufacturing, Retail & Logistics, Education Institutions and Banking & Financial Institutions), By Regions (Eastern, Western, Central and Southern) and Competitive Landscape
|Product Code: ETC000493||Publication Date: Jun 2018||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 130||No. of Figures: 74||No. of Tables: 12|
Saudi Arabia biometrics market recorded downfall in demand during 2014-16, particularly due to deteriorating economic conditions on account of decline in oil prices, resulting in drop in government's spending towards the biometrics solutions in the country. However, the market is anticipated to bounce back with the recovery of oil prices post 2017. Additionally, growing security concerns and increasing crime rate in Saudi Arabia region are expected to further boost the demand for biometrics solutions in the coming years.
According to 6Wresearch, Saudi Arabia biometrics market is projected to cross $52.9 million by 2024. Projected growth in construction market, upcoming projects on hotels & shopping malls, coupled with increasing inflow of FDI in the construction and retail sectors are expected to emerge as the key driving factors for the market growth. In terms of technology, fingerprint recognition segment accounted for majority of the market revenue share, owing to availability of supporting infrastructure and increasing installation in government & transportation vertical.
Amongst all verticals, government & transportation acquired highest revenue share of the market in 2017. Over the next six years, hospitality & healthcare and education verticals are anticipated to record highest growth on account of increasing number of hotels, and higher penetration of biometrics attendance solution in educational institutions.
In Saudi Arabia region, Central region recorded major share in biometrics system revenues on the back of increasing infrastructure development activities, especially in commercial vertical. Additionally, during the forecast period, Central region is expected to lead the market owing to rapid development of IT parks and SEZs (Special Economic Zones) in Riyadh.
The report thoroughly covers the market by Saudi Arabia biometrics market by types, technology, applications, verticals, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers, which would help stakeholders to device and align market strategies according to the current and future market dynamics.
Key Highlights of the Report:
• Market Size & Forecast of Global Biometrics Revenues & Volume until 2024
• Market Size & Forecast of Saudi Arabia Biometrics Revenues & Volume Market until 2024
• Market Size & Forecast of Saudi Arabia Fingerprint Biometrics Revenues & Volume Market until 2024
• Market Size & Forecast of Saudi Arabia Face Recognition Biometrics Revenues & Volume Market until 2024
• Market Size & Forecast of Saudi Arabia Iris Biometrics Revenues & Volume Market until 2024
• Market Size & Forecast of Saudi Arabia Hand/Palm Print Biometrics Revenues & Volume Market until 2024
• Market Size & Forecast of Saudi Arabia Multimodal Biometrics Revenues & Volume Market until 2024
• Market Size & Forecast of Saudi Arabia Voice Biometrics Revenues & Volume Market until 2024
• Market Size & Forecast of Saudi Arabia Vein Biometrics Revenues & Volume Market until 2024
• Historical data and Forecast of Saudi Arabia Biometrics Market, By Verticals
• Historical data and Forecast of Saudi Arabia Biometrics Market, By Regions
• Historical data and Forecast of Saudi Arabia Biometrics Market, By Technology
• Market Drivers and Restraints, Market Trends and Industry Life Cycle
• Value Chain Analysis and Porter's Five Forces Analysis
• Competitive Landscape (Player's Revenue Share and Competitive Benchmarking)
• Company Profiles and Key Strategic Pointers
The report provides detailed analysis of the following market segments:
• By Technologies:
o Other Biometrics
• By Applications:
o Time & Attendance
o Access control
o Record Keeping
• By Verticals:
o Government & Transportation
o Healthcare & Hospitality
o Commercial Office
o Industry & Manufacturing
o Retail & Logistics
o Education Institutions
o Banking & Financial Institutions
• By Regions: