Press release
Biometrics Market Trends 2024 Segmented by David Link, EyeVerfiy, Iris ID, and NEC Corporation
Biometrics Market, Biometrics Market Study, Biometrics Market Size, Biometrics Market Segmentation, Biometrics Market Growth
This Biometrics market report speaks about the manufacturing process analyzed thoroughly with respect to four points like Manufacturers, regional analysis, Segment by Type and Segment by Applications and the actual process of whole Biometrics industry.
Top prominent Key players in global Biometrics market
BIO Key International, David Link, EyeVerfiy, Iris ID, and NEC Corporation are among the prominent players in the biometrics market. Other notable players include Lockheed Martin, Green Bit Biometric Systems, FaceFirst, ZKTeco, and 3M Cogent.
Biometrics Market size is estimated to surpass USD 50 billion by 2024
High acceptance among various verticals including mobile banking and financial services owing to rising security concerns has enhanced biometrics market size. Government initiatives for biometrics implementation coupled with high deployment for criminal identification will remain the key factors driving industry demand.
Industry players focus on technological advancements and new product launches to cater to the customer requirements. Benefits offered including provision of precise and accurate validation as compared to traditional validation methods such as PINs and ID cards, are anticipated to increase the industry penetration across the globe till 2024.
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The report has been prepared based on the synthesis, analysis, and interpretation of information about the global turnstile market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile.
The points that are discussed within the report are the major market players that are involved in the market such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
Scope of Biometrics Market:
Non-AFIS will account for the highest biometrics market share, surpassing USD 18 billion till 2024. This can be attributed to its high usage in various applications which include cashless vending and workforce management. Moreover, it finds use in various public areas that assure keyless entry and efficient security. Iris recognition will exhibit over 20% CAGR owing to wide integration of iris scanners mainly in smartphones.
Benefits such as unauthorized vehicle use detection, reduction of overtime expenses, and identification of billing anomalies will support the transportation & logistics segment growth from 2017 to 2024. Banking & finance applications will benefit from the rising demand from various financial institutions for precise authentication and streamlining of operations.
North America biometrics market is expected to account for more than 30% share till 2024. Rising demand from government & security sector in U.S. coupled with the presence of major industry participants will escalate the industry growth. Moreover, favorable regulatory landscape in the U.S will help in fostering the industry demand. Asia Pacific is poised to grow at the highest CAGR owing to various government initiatives in the countries including China and India. National enrollment program (UIDAI Aadhar) in India, and China Resident Identity Card (CRIC) are among the implementation examples across the region.
Biometrics Market by Product
Face
Hand geometry
Voice
Signature
Iris
AFIS
Non-AFIS
Biometrics Market by Application
Government
Defense services
Banking & finance
Consumer electronics
Healthcare
Transport/Visa/Logistics
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Assess the production processes, major issues, and solutions to mitigate the development risk.
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Data Tables
TABLE 1 Global biometrics market 360 degree synopsis, 2013 - 2024
TABLE 2 Global biometrics market, 2013 - 2024, (USD Million)
TABLE 3 Global biometrics estimates by region, 2013 - 2024 (USD Million)
TABLE 4 Global biometrics market estimates by product, 2013 - 2024 (USD Million)
TABLE 5 Global biometrics market estimates by application, 2013 - 2024 (USD Million)
TABLE 6 Industry impact forces
TABLE 7 Competitive landscape
TABLE 8 Global biometrics market (USD Million), 2013 – 2024
TABLE 9 Global biometrics market, by region (USD Million), 2013 - 2024
TABLE 10 Global facial recognition market (USD Million), 2013 - 2024
TABLE 11 Global facial recognition market, by region (USD Million), 2013 - 2024
TABLE 12 Global voice recognition market (USD Million), 2013 - 2024
TABLE 13 Global voice recognition market, by region (USD Million), 2013 - 2024
TABLE 14 Global hand geometry market (USD Million), 2013 - 2024
TABLE 15 Global hand geometry market, by region (USD Million), 2013 – 2024
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