The global demand for Biometric Technology Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Biometric technology measure a person's physical characteristics to verify their identity that includes fingerprint, face recognition, eyes recognition, Vein recognition, Retina scanning, physiological traits, voice recognition, hand geometry or any other behavioural characteristics s. A biometric system consists of three different components: sensors, software, and computer. The biometric characteristics are stored and are accessed later for comparison. The technology is used every day to authenticate the identity or communicate with a personal device, other than this there are plenty of other uses for biometrics. Aside from smartphones use, biometrics are used in many different fields: law enforcement, border control, and facial recognition systems.
The global biometric technology market is growing at a rapid pace due to rising security challenges. Today, fingerprint and face recognition is highly used for verifying one's identity. Biometrics was initially used for crime investigation purpose but now its application has evolved across sectors due to its potential to make authentication dramatically faster, easier and more secure than traditional passwords. Its basic application was known for authentication. Biometrics for secure access control also becomes prevalent and has extended to online banking and payment sector. The public sector is another focused area for biometrics applications. It ranges from the paperless process for digital identity, visa application, to border control, to public security monitoring. another emerging use is in portable digital technology: smartphone, tablet, also social network tag. The market is dominated by the fingerprint segment. The increasing ubiquity of high-quality cameras, microphones and fingerprint readers in many of smartphone devices is driving the growth of the segment.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of biometric technology.
The entire biometric technology market has been sub-categorized into type and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By End User
- Face Recognition
- Iris Recognition
- Fingerprint Recognition
- Hand Geometry Recognition
- Signature Recognition
- Voice Recognition
- Middleware Recognition
- Public Sector
- Banking & Financial Sector
- IT & Telecommunication
This section covers regional segmentation which accentuates on current and future demand for biometric technology market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Biometric Technology Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the biometric technology market include 3M, Imageware system Inc., Fujitsu Frontech Limited, Suprema Inc., and Safaran SA. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.