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FINANCIAL NEWS
Saudi biometric market to hit USD1.5b by 2019
21 Aug 2014
(MENAFN) The market of biometrics in Saudi is beginning to show signs of promise due to the increase in IT spending and the rise in adopting of biometrics technology across different industrial sectors, Saudi Gazette reported.
The Saudi biometrics market is currently in its blossoming stage, where the market is yet to witness substantial growth after a mere 3 percent contribution among in the global market.
However, the market is expected to register growth in investments, government projects, the expansion of IT/ITes sector and the introduction of e-passports and visas.
This growth is projected to reach USD1.5 billion by 2019. This growth and will be mainly controlled by fingerprint biometrics technology, which is already being adopted in the country due to its low cost and ease in its installation and usage.
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