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MarketResearch.biz delivers in-depth insights on the global biometrics technology market in its upcoming report titled, “Global Biometrics Technology Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global biometrics technology market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global biometrics technology market is segmented on the basis of application, end-use industry, and region.
Biometrics technology is used for measurement of unique characteristics of individuals such as fingerprint, hand geometry, walk or posture, etc. There are two types of biometric identifiers, namely physical characteristic identifiers, and behavioral characteristic identifiers.
Rising adoption of biometric-based identity and authentication devices by various residential, commercial, and government sectors, owing to rising security concerns is a major factor driving growth of the global biometrics technology market. In addition, increasing incidences of identity thefts, coupled with rising demand for biometric authentication modules from consumer electronics such as smartphones, tablets, smart wearables, etc. are other factors driving growth of the target market. Rising applications of biometric technology in facial, and finger scan solutions in various applications such as BFSI, security, defense, etc. is another factor fueling growth of the global market.
Major factor hampering growth of the global biometrics technology market is high capital investment. Current trend observed in the market is increasing adoption of multimodal or multi-factor authentication biometrics devices. This factor is expected to further drive growth of the target market over the forecast period.
North America accounted for highest market share in terms of revenue in the global biometrics technology market and is expected to expand at a CAGR of XX.X% over the forecast period. This growth can be attributed to increasing adoption of biometric technology in various departments such as homeland security, defense, etc. The market in Asia Pacific is expected to witness significant growth and is expected to register a CAGR of X.X% over next 10 years, owing to presence of key biometric sensor manufacturers in countries such as China, Japan.
Global biometrics technology market segmentation:
Segmentation on the basis of application:
- Hand geometry
Segmentation on the basis of end-use industry:
- Banking & Finance
- Consumer Electronics
- Defense & Security
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- NEC Corporation
- Precise Biometrics AB
- Fujitsu Limited
- 3M Cogent
- Hitachi Ltd.
- Siemens AG
- Nuance Communications
- Suprema Inc.
- BIO-Key International
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