Global Biometric System Market, By Component (Hardware and Software), Authentication Type (Single Factor Authentication and Multifactor Authentication), Type (Contact-based, Contactless, Hybrid), Vertical (Government, Military and Defense, Healthcare, Banking and Finance, Consumer Electronics, Security, Travel and Immigration, Automotive, Others Verticals), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
The biometric system market is expected to witness market growth at a rate of 15.75% in the forecast period of 2022 to 2029. Data Bridge Market Research report on biometric system market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications globally is escalating the growth of biometric system market.
Biometric systems are defined as the systems that utilize biological data for identifying the person. These systems are widely used for the statistical analysis of the physical and behavioural characteristics of people in an organization. These system states each individual's individuality and can be defined by its distinct behavioural and physical traits.
The increase in the adoption of biometric technology in automotive applications across the globe acts as one of the major factors driving the growth of biometric system market. The surge in use of biometrics in consumer electronic devices for authentication and identification purposes, and rise in the number of government initiatives to adopt biometrics accelerate the market growth. The rise in the use of biometric technology in enterprises to ensure improved convenience, secure identity management, and superior, and increase in the need for surveillance and security with heightened threat of terrorist attacks further influence the market. Additionally, rapid urbanization, presence of stringent passenger safety regulations, rapid technological advancements and use of e-passport and e-visas positively affect the biometric system market. Furthermore, advancements in biometric identification technology and gradual implementation of mobile-based access control solutions extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, high deployment cost and increased shift of industries towards the adoption of advanced security systems are expected to obstruct the market growth. Data security concerns and lack of technical know-how are projected to challenge the biometric system market in the forecast period of 2022-2029.
This biometric system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info biometric system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Biometric System Market Scope and Market Size
The biometric system market is segmented on the basis of component, authentication type, type and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the biometric system market is segmented into hardware and software.
- On the basis of authentication type, the biometric system market is segmented into single-factor authentication and multifactor authentication. Single-factor authentication is further segmented into fingerprint recognition, iris recognition, palm recognition, face recognition, vein recognition, signature recognition, voice recognition and other types of recognition. Multifactor authentication is further segmented into biometric smart card, biometric PIN and multimodal.
- On the basis of type, the biometric system market is segmented into contact-based, contactless and hybrid.
- On the basis of application, the biometric system market is segmented into government, commercial and healthcare.
Biometric System Market Country Level Analysis
The biometric system market is segmented on the basis of component, authentication type, type and vertical.
The countries covered in the global biometric system market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the biometric system market due to the higher implementation of biometrics technology by security and government agencies within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the implementation in security purposes for protecting national heritage and for e-passport verification.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Biometric System Market Share Analysis
The biometric system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to biometric system market.
Some of the major players operating in the biometric system market report are Safran, NEC Technologies India Private Limited, FUJITSU, Aware, Inc., Gemalto Cogent, Inc., BIO-key International, Inc., Precise Biometrics AB, secunet Security Networks AG., Thales Group, Cognitec Systems GmbH, Crossmatch., Fulcrum Biometrics, LLC., Daon, Facebanx , HID Global Corporation/ASSA ABLOY AB., SUPREMA., IRITECH, INC., and M2SYS Technology, among others.
Customization Available : Global Biometric System Market
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