Biometric Passport Market Size & Share - Industry Trend and Forecast 2018 - 2026

"The Report Biometric Passport Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz"

The main objective of this report is to define, describe, and forecast the global “Biometric Passport ” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

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A biometric passport is well-found with improved security structures to verify the citizenship of tourists. For previous few years, many countries have announced a wide range of measures and electronic methods to avert passport scams to address the anxieties related to worldwide business and personal security. A biometric passport has complicatedly designed passport pages, a data chip and complex watermarks. This chip contains all critical information associated to the passport holder such as digital signature data, which helps in confirming the passport. The biometrics are measured more reliable and personal than a passport PIN or photo, as it uses personal characters such as eye maps, facial and fingerprints as primary credentials features. These biometric features were recognized by The International Civil Aviation Organization (ICAO) after examining multiple other biometrics including retinal scan.

It can be used as a replacement for the user-name and password as a convenient log-in, or as a simple alternative to password re-sets. It can also be deployed for enhancing on boarding and KYC (Know Your Customer) methods. It has a tremendous benefit in improving a brand’s user experience. Increase in innovation of advanced verification means to detect identity frauds, existence of advanced airport infrastructure facilitates, and growth in travelers to cross-border destinations drive the growth of the global biometric passport market. However, initial high cost of deployment and availability of cost-effective biometric passport are expected to impede the market growth. Increased adoption of biometric passport among developing economies and technological advancements are expected to present numerous opportunities for the market expansion.

The global biometric passport market is segmented on the basis of type, end use industry and geographical region. On the basis of type, the biometric passport market is segmented into facial recognition, fingerprint recognition, IRIS recognition and others. The biometric passport market for fingerprint recognition is predictable to grow at the highest CAGR during forecast period. On the basis of end use industry, the global market is segmented into BFSI, defense, healthcare, IT and telecommunication, government and public sector and others. By geographical region the global biometric passport market is split up into North America, Europe, Asia Pacific, Middle East & Africa and South America. North America is expected to have largest market share during estimated period and is expected to witness significant growth owing to the presence of large manufacturing of BFSI in this region. The region, along with Europe, is one of the developers in adopting new technologies, which is also one of the key factors for the high CAGR in this region.

Acquisitions and Merger, new product introductions, investments, and corporations & developments are the key strategies adopted by market companies to ensure their growth in the biometric passport market. The key players he global biometric passport market is dominated by key players such as Aware, Inc, BIO-Key International, Inc, Cognitec Systems GmbH, Cross Match Technologies, Facebanx , Fujitsu Ltd, Fulcrum Biometrics, Daon, Inc, IDEMIA LLC, NEC corporation, Neurotechnology, NXP Semiconductor, Precise Biometrics AB, Secunet Security Networks AG, Thales SA Gemalto N.V., Mühlbauer Group, Entrust Datacard Corporation , HID Global Corporation, Infineon Technologies AG, Safran S.A. , Eastcompeace Technology Co., CardLogix Corporation, 4G Identity Solutions, ASK. are some major players in the biometric passport market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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