According to the Biometrics Market study, the market size, revenue growth, and CAGR from 2022 to 2030 are all covered. In order to provide readers a competitive edge, the research also offers significant insights about the leading companies in the market, in-depth SWOT analysis, Porter's Five Forces analysis, and feasibility analysis. The paper focuses on the most recent trends, significant difficulties, prospects, and constraints of the present epidemic.
According to the most recent report by Emergen Research, the worldwide biometrics market is predicted to grow at a 14.8% revenue CAGR over the forecast period, reaching a value of USD 43.54 billion in 2021. Some important aspects anticipated to boost market revenue growth between 2022 and 2030 are the growing requirement for authentication methods that are more convenient and quick as well as the growing demand for security systems that are simple to use. In addition, rising need for high levels of security in the banking, finance, and defence industries is anticipated to support market revenue growth in the coming years. By confirming identity using a variety of techniques, such as face recognition, voice recognition, signature recognition, iris recognition, fingerprint recognition, and hand geometry recognition, among others, biometrics gives providers increased levels of security regarding the veracity of a person. Only authorised users are allowed access thanks to biometric authentication, which puts fraudsters in the way. Demand for biometric systems is also anticipated to increase due to the growing necessity of limiting data breaches and lowering the likelihood of cyberattacks. In addition, the growing demand for biometric systems to provide the highest level of accuracy, security, and efficiency in a variety of processes, including access control, customer onboarding, fraud prevention, loss prevention, time and attendance, forensic investigation, background checks, border security, and government benefit provision, is another important factor anticipated to propel market revenue growth over the course of the forecast period.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
BIO-key International, NEC Corporation, Secunet Security Networks AG, HID Global Corporation, FUJITSU, Cognitec Systems GmbH, Thales, Precise Group, Aware Inc., Siemens, SUPREMA and IrisGuard Ltd
Target Audience of the Global Biometric System Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- Global market producers, distributors, traders, and suppliers
- Research organizations, consulting companies, and various alliances interested in this sector
- Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
- 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)
Market Segmentations of the Biometric System Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Biometric System market on the basis of product, application, and region:
Segments Covered in this report are:
- 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
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Some Key Highlights From the Report
- Multi-factor authentication segment is expected to register a substantially rapid revenue CAGR during the forecast period due to increasing need to reduce risks associated with key logger activity
- Hardware segment is expected to register a significantly robust revenue growth rate over the forecast period, owing to increasing need to operate security systems in various organizations
- Asia Pacific market is expected to account for larger revenue share due to robust presence of major market players providing biometrics solutions such as Fujitsu Limited and NEC Corporation, among others, in countries in the region
Additional information offered by the report:
- Along with a complete overview of the global Biometric System market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Biometric System market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
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