Global Biometrics
Technology Market report delivers future
development strategies, key companies, Possibility of competition, major
challenges analysis. The reports elaborate the expansion rate of the Biometrics
Technology market supported the highest company profile analysis. This report
providing an in-depth analysis, market size, and evaluation for the developing
segment among the Biometrics Technology market. Biometrics Technology Market
report will help you take expert decisions, recognize opportunities, plan
effective professional tactics, plan new schemes, analyse drivers and restraints
and give you a vision on the Biometrics Technology Market forecast.
Industry Insights
The global Biometrics Technology Market size is expected to reach USD
59.31 billion by 2025, with a CAGR of 19.5% during the forecast period. This
technology has its applications in public, commercial and private sectors.
Biometrics is related to human characteristics which identify fingerprint, palm
veins, face recognition, hand geometry, retina for its authorization. To avoid
security breaches, this technology is applied in various sectors and it
provides high degree of security and accuracy.
To avoid security breaches, this technology is applied in various
sectors and it provides high degree of security and accuracy.
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Key Questions Answered
·
What are the sales or revenue produced
by Biometrics Technology products beyond all sectors during the forecast
period?
·
What are the key trends in the Biometrics
Technology market?
·
What are the leading drivers, limitations,
and probabilities in the industry?
·
Which segment will gain the
highest revenue worldwide and which product segment will expand at the fastest
CAGR during the forecast period?
·
In which region the Biometrics
Technology market to project lucrative CAGR during the forecast period?
The security concerns are anticipated to drive the market demand over
the forecast period. Biometrics technology is accessed in the computer industry
for identification and access control. To protect the most important data, old
techniques are not robust enough as a result of which this technology is being
used widely. It has applications in government offices, border control,
airports, financial institutions, healthcare industry and law on account of
which the demand is expected to increase rapidly.
Application Insights
The biometrics technology finds usage in applications such as face
recognition, hand geometry, signatures, automated fingerprint identification
systems (AFIS), voice recognition, iris, and non-AFIS. Hand recognition is very
widely used a form of application in biometrics technology.
Palm veins and print are contactless applications which are expected to
grow over forecast period owing to the security concerns. AFIS finds
application in conducting background checks of the workforce of an
organization. These all will be used for civil applications.
Iris application is majorly used in government programs. It also used in
ATM facilities and financial institutions. These applications will see growth
over the forecast period.
End-Use Insights:
The demand in the government sector is expected to grow rapidly over the
forecast period to prevent issues such as illegal immigration and identity
theft. The commercial sector is anticipated to experience increased demand on
account of growing application in defense and security end-use.
For recent implementations in mobile and online payments, it is
protected by biometrics over its security concerns. This technology also has
end-use in consumer electronics, healthcare, security, and defense.
Regional Insights:
Biometrics technology is majorly used around the world to counter the
threats posed by terrorists worldwide. North America is expected to be the
major market where U.S. is the most dominant country and will grow rapidly over
the forecast period. Asia Pacific is expected to be the fastest growing market
owing to the significant demand in China and India over the forecast period.
Initiatives such as UIDAI in India which use face, fingerprint and iris
biometrics are expected to augment demand over the forecast period.
Competitive Insights:
The industry participants in the market comprise of companies such as
Precise Biometrics AB, NEC Corporation, 3M Cogent, Fujitsu Limited, FaceFirst,
Nuance Communications, and Hitachi. 3M Cognet has recently introduced a wide
range of palm print and fingerprint identification products with innovative
features.
The market is characterized by high merger and acquisition activity. 3M
Cogent has entered into partnerships with companies such as Siemens,
BlackBerry, Accenture, Sun Microsystems, and Lockheed Martin for the
application of bluetooth-enabled portable fingerprint scanner, which is highly
preferred mobile biometric industry.
Know
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