Biometrics Market Key technologies explained by David Link, EyeVerfiy, Iris ID, NEC Corporation and More

The prime objective of Biometrics Market report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing. Deep researches and analysis were done during the preparation of the report.

Biometrics Market size is estimated to surpass USD 50 billion by 2024

Description: 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.

This report focuses on the top Manufacturers and players in global market are given bellow:-

BIO Key International, David Link, EyeVerfiy, Iris ID, and NEC Corporation are among the prominent players in the biometrics market

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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 Size By Application

Banking & Finance, Consumer Electronics, Defense Services, Government, Transportation, Healthcare

By Product

AFIS, Non-AFIS, Hand Geometry, Signature, Voice, Iris, Face

Industry Analysis Report, Regional Outlook

U.S., Canada, UK, Germany, France, Russia, China, India, Japan, South Korea, Mexico, Brazil

Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024

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