The global biometric systems market is growing impressively with a CAGR of 16.3% during 2018-2023. The market is expected to grow modestly due to variety of factors which includes cohesive support from governments across the globe and favorable regulations that triggers the adoption of biometric market in varied domains and organization. Other factors such as a need for security, rapid adoption of e-passport by countries, theft and security concerns and so forth are contributing in the growth of the market. Huge demand is emerging from varied sectors which includes government, military & defense, transport & logistics, commercial safety & security, healthcare, banking & finance, consumer electronics, business organizations and so forth will continue to contribute in the growth of biometric systems market. Adoption of biometrics market in smartphone, PCs, passport offices, banks will continue to contribute significantly in the growth of Biometrics market.
The market for biometric market is expected to see new highs in future due to rapid growth seen in the e-commerce segment. The online buyers are continually increasing which is leading to a totally digitized shopping experience. This increases lot of theft and fraud chances. The biometric systems are being seen getting adopted in e-commerce which can be seen as a solid growth for the biometric systems market during the forecast period. Biometrics system market by technology such as face recognition, fingerprint recognition, iris recognition, palm print/hand recognition, hand geometry recognition, voice recognition, signature recognition and so forth are widely adopted across the globe.
On the geographical front, North America is the clear leader in the biometric systems market and is expected to retain its position during the forecast period as well due to the growing usage and adoption of biometric systems in the region. The biometric systems in North America are rapidly finding usage in various fields such as homeland security & employee scrutiny. The adoption of biometric systems in the defense has also created solid opportunities for the market in past and with the growing technological advancement biometric systems are further expected to be absorbed more in the defense during the forecast period. Moving further, according to our estimates the APAC region is shining brighter than any other region and is expected to be the fastest growing region during 2018-2023. The reason behind this estimate is the growing security concerns which is leading the government in India and China to promote biometric systems and creating more awareness among the masses which are hesitant or reluctant to the use of biometric systems so far.
The report includes detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, pipeline analysis, patent analysis, strategic recommendations, key company analysis, gap analysis, key findings, market estimations, market insights, analyst insights and predictive analysis of the market.
Major players in the limelight include 3M cogent Inc., Biokey international Inc., CogniTech systems GmbH, Cross Match Technologies, Daon Inc., Fujitsu Ltd., Fulcrum Biometrics, iDTech, Siemens Ag, suprema Inc., RCG Holding Ltd., NEC corporation, Precise Biometrics Ab etc. The companies are always looking forward to catch a pie of the cake and therefore are relying on strategic initiatives such as M&A, product launches and expansion.
THE REPORT COVERS
• Comprehensive research methodology of Global Biometric Systems Market.
• This report also includes detailed and extensive market overview with gap analysis, historical analysis & key analysts insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Global Biometric Systems Market.
• Insights about market determinants which are stimulating the Global Biometric Systems Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues
• Extensive profiles and recent developments of market players
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Some points from table of content:
1. REPORT SUMMARY
1.1. RESEARCH METHODS AND TOOLS
1.2. MARKET BREAKDOWN
1.2.1. BY SEGMENTS
1.2.2. BY GEOGRAPHY
1.2.3. BY STAKEHOLDERS
22.214.171.124. RAW MATERIAL SUPPLIERS
2. MARKET OVERVIEW AND INSIGHTS
2.2. ANALYST INSIGHT AND CURRENT MARKET TRENDS
2.2.1. KEY FINDINGS
2.2.1. RECOMMENDATION AND CONCLUSION
2.4. PATENT ANALYSIS
3. MARKET DETERMINANT
3.1.1. GROWING NEED FOR SECURITY ACROSS THE GLOBE
3.1.2. RISING DEMAND FOR BIOMETRIC SYSTEMS IN SMARTPHONES, PCS AND OTHER ELECTRONIC PRODUCTS
3.1.3. ADOPTION OF BIOMETRIC SYSTEMS IN HEALTHCARE
3.1.4. BIOMETRICS SYSTEM IN E-PASSPORT ACROSS THE GLOBE
3.1.5. FAVORABLE GOVERNMENT REGULATIONS AND POLICIES
3.1.6. TECHNOLOGICAL ADVANCEMENT AND INNOVATION IN BIOMETRICS SYSTEM MARKET
3.2.1. HIGH COST OF INSTALLATION
3.2.2. PRIVACY ISSUES AND FEAR OF LOSS OF INFORMATION AND DATA
3.2.3. RELAIBILITY ISSUES
3.3.1. GROWING ADOPTION OF CLOUD COMPUTING APPLICATIONS IN HEALTHCARE DOMAIN IS A BRIGHT OPPORTUNITY FOR THE BIOMETRIC SYSTEMS MARKET
3.3.2. RISING ONLINE SHOPPING AND E-COMMERCE
3.3.3. GROWING ADOPTION OF PAPERLESS DOCUMENTATION
3.3.5. OVERCOMING INTRUSION IS A CHALLENGE
4. MARKET SEGMENTATION
4.1. GLOBAL BIOMETRIC SYSTEMS MARKET BY TECHNOLOGY
4.1.1. FINGERPRINT RECOGNITION
4.1.2. VOICE RECOGNITION
4.1.3. VASCULAR BIOMETRICS
4.1.4. HAND GEOMETRY
4.1.5. PALM PRINT RECOGNITION
4.1.6. FACE RECOGNITION
4.1.7. VEIN RECOGNITION
4.1.8. IRIS RECOGNITION
4.1.9. SIGNATURE RECOGNITION
4.1.10. SINGLE-FACTOR AUTHENTICATION
4.1.11. MULTI-FACTOR AUTHENTICATION
4.1.12. SMART CARD WITH BIOMETRICS TECHNOLOGY
4.1.13. BIOMETRICS WITH PIN
4.1.14. TWO FACTOR BIOMETRICS AUTHENTICATION
4.1.15. THREE FACTOR BIOMETRIC AUTHENTICATIONS
4.1.16. OTHER BIOMETRIC TECHNOLOGIES
4.2. GLOBAL BIOMETRIC SYSTEMS MARKET BY END USER
4.2.2. MILITARY & DEFENCE
4.2.4. BANKING & FINANCE
4.2.5. CONSUMER ELECTRONICS
4.2.6. TRAVEL AND IMMIGRATION
4.2.8. OTHER END USERS
4.3. GLOBAL BIOMETRIC SYSTEMS MARKET BY FUNCTION
4.3.1. CONTACT BIOMETRICS
4.3.2. NON-CONTACT BIOMETRICS
5. PRICING ANALYSIS
5.1. PRICING ANALYSIS (BY SIZE, EQUIPMENT AND SUPLLIES)
6. COMPETITIVE LANDSCAPE
6.1. MARKET SHARE ANALYSIS
6.2. KEY COMPANY ANALYSIS
7. REGIONAL ANALYSIS
7.1. NORTH AMERICA
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