Biometric CCTV market forecast to soar up to $3.2 billion in 2016
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The worldwide market for biometric CCTV systems is set to reach $3.2 billion by 2016, with an annual growth rate of 33 percent, a recent report by analysts from the Homeland Security Research Corporation (HSRC) was able to reveal.
The security camera industry has already seen rapid growth as the private and public sector have installed surveillance systems to help combat crime and provide real-time information. Nevertheless, researchers project that over the next decade the next trend in this field will be the increasing integration of biometric technology into surveillance cameras.
Using automated biometric systems can help reduce costs and offer enhanced intelligence with automated features like biometric facial recognition capabilities and behavior detection.
HSRC’s report projects that these technological developments will help drive the CCTV market and create significant growth opportunities for the security camera industry, biometric and IT systems manufacturers, and security systems integrators.
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