The Biometrics Market report offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2021-2028. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
The global biometrics market size reached USD 43.54 Billion in 2021 and is expected to register a revenue CAGR of 14.8% during the forecast period, according to latest analysis by Emergen Research. Increasing need for more convenient and fast authentication mode and increasing need for easy-to-operate and user-friendly security systems are some key factors projected to support market revenue growth between 2022 and 2030. In addition, increasing need for high level of security in banking and finance and defense sectors is expected to continue to drive revenue growth of market going ahead.Biometrics provides increased levels of security to providers whether a person is real by verifying identity using several methods such as face recognition, voice recognition, signature recognition, iris recognition, fingerprint recognition, and hand geometry recognition, among others. Biometric authentication road-blocks for fraudsters, allowing only authorized user access. In addition, increasing need for minimizing data breaches and reducing chances of cyber-attacks is expected to boost demand for biometric systems. Furthermore, increasing need for biometric systems to deliver highest level of accuracy, security, and efficiency in various processes such as access control, customer onboarding, fraud prevention, loss prevention, time and attendance, forensic investigation, background checks, border security, and government benefit provision are some other key factors expected to drive market revenue growth during the forecast period.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Biometrics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
The leading market contenders listed in the report are:
Leidos Holdings, Inc., Gemalto N.V. (3M Cogent), NEC Corporation, Fujitsu Ltd., ImageWare Systems, Inc., BioEngagable Technologies Pvt. Ltd, Mobbeel Solutions, S.L.L., M2SYS Technology - KernellÓ Inc., SIC Biometrics, Precise Biometrics, BioID AG, IriTech, Inc., IDEMIA France SAS, Aware, Inc., and Fulcrum Biometrics, LLC
The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
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Market Overview:
The report bifurcates the Biometrics market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Technology Outlook (Revenue: USD Billion; 2017-2027)
- Facial Recognition
- Fingerprint Recognition
- Voice Recognition
- Palm Recognition
- Iris Recognition
- Others
Industry Vertical Outlook (Revenue: USD Billion; 2017-2027)
- Government and Defense
- Healthcare and Life Sciences
- Law Enforcement
- Human Resources
- Retail and E-commerce
- IT and Telecommunication
- Banking, Financial services, and Insurance (BFSI)
- Others
Applications Outlook (Revenue: USD Billion; 2017-2027)
- Site Access Control
- Time Recording
- Mobile Application
- Web and Workplace
- Others
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
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Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Biometrics Market report:
- The latest report comprehensively studies the global Biometrics market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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