Biometric System Market Demand, Top Companies and Growth Forecasts Research To 2030

Biometric System Market

The Global Biometric System Market size is expected to reach USD 115.41 Billion at a revenue CAGR of 13.2% in 2030, according to latest analysis by Emergen Research The global healthcare industry’s growing demand for and adoption of contactless biometrics systems is a major factor in the market revenue growth of biometric systems. For security identification and authentication, biometric equipment are utilised. These tools can identify a user and then successfully demonstrate whether the identified user is who they say they are. In order to identify and then verify a person’s identity based on distinctive physiological or behavioural features, such as fingerprints, face images, iris recognition, and voice recognition, biometric security systems use automated techniques that minimise the need for human intervention. In biometric authentication technology, an individual’s characteristic data is compared with the same individual’s biometric template. The purpose is to confirm whether the individuals hold a likeness to their declared identities. The algorithms additionally compare behavioural or physical traits to identifiable data in a database.

Additionally, people and organisations are becoming more concerned about protecting their assets and personal information due to rising crime and privacy incursion rates. Biometric solutions have gained popularity in the market as a way to offer uniform security through the use of cutting-edge technology. However, due to intensive R&D efforts and challenges associated with data analysis through an embedded device, the initial investments for biometric technology development and the costs of devices are significant. Another important factor is maintenance expenditures. These are a few of the obstacles preventing the market for biometric technology from expanding. Contrarily, the demand for a reliable authentication system can be satisfied by multilayer biometric solutions that employ a number of distinct levels to increase its security and reliability. The use of smart cards, keystroke identification, digital certificates, Kerberos authentication, and other biometric technologies is also crucial in e-commerce. Because of these considerations, biometric technology use is rising and is predicted to soar in the upcoming years.

Key companies operating in the Biometric System market include:

BIO-key International, NEC Corporation, Secunet Security Networks AG, HID Global Corporation, Fujitsu Limited, Cognitec Systems GmbH, Thales, Precise Group, Aware Inc., Siemens AG, SUPREMA, and IrisGuard Ltd.

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Principal Gains for Stakeholders

  • To show the potential investment pockets, the study offers a detailed analysis of the worldwide biometric technology market share, together with present and future trends.
  • The research contains details on the major forces that are influencing the worldwide biometric technology market, including their impact analysis and key drivers, restraints, and opportunities.
  • Porter’s five forces analysis demonstrates the market power of providers and buyers involved in biometric technology.
  • Understanding the outlook for the worldwide biometric technology market requires a thorough research of the key industry segments.
  • To ascertain the market potential, a quantitative study of the growth of the worldwide biometric technology market from 2021 to 2030 is given.

The global market for biometric systems has been divided into segments by product type, authentication type, contact type, biometric type, end-use, and region by Emergen Research:

  • Product Type Outlook (Revenue, USD Billion; 2019-2030)
    • Hardware
    • Software
  • Authentication Type Outlook (Revenue, USD Billion; 2019-2030)
    • Single-Factor Authentication
    • Multi-Factor Authentication
  • Contact Type Outlook (Revenue, USD Billion; 2019-2030)
    • Contact-based
    • Non-Contact-based
    • Hybrid
  • Biometric Type Outlook (Revenue, USD Billion; 2019-2030)
    • IRIS Recognition
    • Hand Geometry
    • Facial Recognition
    • Signature Verification
    • Voice Recognition
    • Palm Vein
    • Fingerprint
    • Others
  • End-Use Outlook (Revenue, USD Billion; 2019-2030)
    • BFSI
    • Government & defense
    • Aerospace
    • Automotive
    • Consumer electronics
    • Healthcare
    • Retail & e-commerce
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2030)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. Italy
      5. Spain
      6. Sweden
      7. BENELUX
      8. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Israel
      5. Rest of MEA

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About Emergen Research

Emergen Research is a Marketresearch and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Marketintelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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