The Global Biometrics Market is forecasted to be worth USD 99.63 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market include increasing usage of facial recognition, fingerprint scans, iris recognition, and vein pattern recognition in smartphones other IoT devices owing to its more accurate personal identification, reduced risks of security breaches, and huge overall growth of the IoT device industry.
Extensive growth in the smartphone usage and higher requirement of effortless quick biometric security in smartphone and tablet devices have been a huge impulsive factor behind the growth of this market growth. Smartphone manufacturers have been investing enormously in the research development of a various type of biometric techniques and implementing those in the smartphones tablets.
The report provides Biometrics market forecast, supported by detailed insights historical data and revenues, past and current market trends, industry trends, consumer trends, market size, market share, market growth, along with ranging impacts of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in market size over the forecast period, 2020–2028. The report includes profiles of major players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials.
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Global Biometrics market forecast has been provided following thorough study, focus, comparison, and analysis of a varying range of factors and past market forecast and present outcomes. Biometrics Market forecast is made possible through, but has not been limited to, a study and analysis of a variety of factors and trends, and these are verified through interviews with industry experts and companies operating in the market.
Rising focus by major companies on product/service expansion into new and untapped domestic markets, increasing investments in strategic agreements, favourable government policies and regulations, and growing competition in the market are some major trends observed in the Biometrics market. Development of more advanced offerings is driving rising demand and deployment in respective sectors/industries, and this is expected to drive Biometrics market revenue growth to a significant extent over the forecast period.
Further key findings from the report suggest
- In April 2020, TECH5, a leading global technology company, launched a biometric eKYC deployment for its users in the country India, having partnered with ID RD. The biometric includes biometric facial recognition active liveness detection technology.
- The fingerprint recognition sub-segment led the market in 2019 with extensive usage of the fingerprint sensors and recognition systems in smartphones other IoT devices, ATMs, and many others. Higher research development costs associated with this sub-segment is also expected to add to the biometrics market growth.
Top key vendors in Biometrics Market include are:
- Baxter International,
- Nipro,
- Braun Melsungen,
- DaVita Healthcare Partners,
- Covidien
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
- Site Access Control
- Time Recording
- Mobile Application
- Web and Workplace
On the basis of product, this report displays the production, revenue, price, and market share and growth rate of each type, primarily split into
- Unimodal Biometric Systems
- Multimodal Biometric Systems
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Incorporated with Info-graphics, charts, 70 tables and 85 figures, this 250-page research report “Biometrics Market Size, Type, Application, End-Use Industry, Regional Outlook, Competitive Strategies and Forecasts, 2020 - 2027” is based on a complete research of the entire Global market and covering all its sub-segments through comprehensively thorough classifications. Insightful analysis and assessment are created from superior primary and secondary information sources with data and information derived from industry specialists across the value chain.
Region wise performance of the Biometrics industry
North America Biometrics market forecast is expected to remain significantly positive in terms of revenue share between 2020 and 2028. In addition, North America Biometrics market revenue share is expected to remain comparatively larger than that of other regional markets from 2020 to 2028.
Asia Pacific registered fastest revenue CAGR in 2020, and the Biometrics market forecast is that this trend is expected to continue going ahead. Market forecast states that revenue share contribution from China, India, and South Korea is expected to remain robust till 2028.
Europe Biometrics market forecast is positive currently, with revenue growth expected to remain steady between 2020 and 2028. Robust focus on research and development initiatives by major firms and changing trends and demographics in countries in the region are some factors expected to continue to support Biometrics market growth.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Europe
- China
- Japan
- Southeast Asia
- India
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa
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The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Biometrics industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Biometrics market across different regions?
- Who are the major driving forces expected to decide the fate of the Biometrics industry worldwide?
- Who are the prominent market players making a mark in the Biometrics market with their winning strategies?
- Which Biometrics industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Biometrics market?
Table of Content
Chapter 1. Methodology Sources
1.1. Biometrics Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Biometrics Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Biometrics Market Segmentation Impact Analysis
4.1. Biometrics Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Biometrics Market indicators analysis
4.2.2. Biometrics Market drivers analysis
4.2.2.1. Rapid urbanization and industrialization
4.2.2.2. Stringent government regulations regarding carbon emissions
4.2.2.3. Increasing prevalence of respiratory diseases
4.2.2.4. Rising need to enhance indoor air quality
4.2.3. Biometrics Market restraints analysis
4.2.3.1. High cost associated with the maintenance of Biometrics products
4.2.3.2. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. Biometrics Market Revenue Share By Manufacturers
10.2. Mergers Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.2. Europe
10.5.1.3. Asia Pacific
10.5.1.4. Middle East Africa
10.5.1.5. Latin America
10.5.2. Distributors
10.5.2.1. North America
10.5.2.2. Europe
10.5.2.3. Asia Pacific
10.5.2.4. Middle East Africa
10.5.2.5. Latin America
10.5.3. Others
Continued….
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