Press release
Future Growth of Biometrics Market Global Analysis by Key Players - BIO Key International, David Link, EyeVerfiy, Iris ID, and NEC Corporation
Biometrics Market size is estimated to surpass USD 50 billion by 2024; according to a new research report by Global Market Insights, Inc.
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.
Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/568784/?utm_source=openpr.com&utm_medium=Deepak
Global industry share is highly fragmented with various participants across the globe. 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.
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.
Increased smartphone penetration coupled with expansion of consumer electronics will favor the biometrics market share over the forecast timeframe. In addition, rising investment in military & defense due to authentication concerns is anticipated to offer high growth potential. Multimodal biometrics system is an emerging trend in public and private work space for stringent attendance recording purposes. However, high implementation cost and stored data uncertainty may hamper industry growth over the forecast timeframe.
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.
Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/568784/?utm_source=openpr.com&utm_medium=Deepak
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.
More Details on this Report: https://www.marketstudyreport.com/reports/biometrics-market/?utm_source=openpr.com&utm_medium=Deepak
Related Report:
https://www.marketwatch.com/press-release/middle-east-water-heater-market-growth-top-players-analysis-prospects-and-forecast-to-2024-2019-01-22
About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.
Contact Us:
Market Study Report LLC
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
Blog: https://www.marketstudyreport.com/blog
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Future Growth of Biometrics Market Global Analysis by Key Players - BIO Key International, David Link, EyeVerfiy, Iris ID, and NEC Corporation here
News-ID: 1523016 • Views: …
More Releases from MarketStudyReport
At 6.1% CAGR, High Voltage Circuit Breaker (33KV-765KV) Market Size is Expected …
Global High Voltage Circuit Breaker Market Report by Market Study report scrutinizes the overall market synopsis globally, their restraining factors, drivers, major challenges, opportunities, latest trends to stabilize the global High Voltage Circuit Breaker (33KV-765KV) market situation, future developmental plans, and values pertaining to various marketing states. This global High Voltage Circuit Breaker (33KV-765KV) market report also enables users to make a decision and considering the overall market feasibility. It…
Global Diabetes Dietary Supplements Market size to witness 4.2% CAGR through 202 …
Market Study Report presents latest report on, global diabetes dietary supplements market is predicted to grow at a CAGR of about 4.2% over the forecast period.The increasing prevalence of diabetes, the soaring geriatric population, and surging awareness about supplements are some of the chief factors driving the growth of global diabetes dietary supplements market.
The competitive landscape of global diabetes dietary supplements industry is defined by companies such as Nutricia, Nature's…
Automotive Steel Market size is projected to reach USD 193230.61 million by 2028 …
Global Automotive Steel Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market with the geographical landscape, demand, remuneration scale, and growth of this vertical have also been included in this report.
Global Automotive Steel Market Size was estimated at USD 134610 million in 2021 and is projected to reach USD 193230.61 million by 2028, exhibiting a CAGR of 5.21%…
Data Center Construction Market size projected to reach USD 54902.09 million by …
Global Data Center Construction Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market with the geographical landscape, demand, remuneration scale, and growth of this vertical have also been included in this report.
Global Data Center Construction Market Size was estimated at USD 26780 million in 2021 and is projected to reach USD 54902.09 million by 2028, exhibiting a CAGR…
More Releases for Biometric
Global Biometric Service Market Size by Application, Type, and Geography: Foreca …
According to Market Research Intellect, the global Biometric Service market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The biometric service market is witnessing rapid growth, fueled by increasing demand for advanced security solutions across various…
Prominent Biometric Cards Market Trend for 2025: Revolutionizing Payment Securit …
What market dynamics are playing a key role in accelerating the growth of the biometric cards market?
The burgeoning expansion of contactless payment systems is anticipated to spur the development of the biometric card market in the future. Contactless payment systems provide a secure means for consumers to purchase goods or services using their debit, credit, or smart cards by exploiting radio frequency identification (RFID) technology or near-field communication (NFC). The…
Prominent Biometric Sensor Market Trend for 2025: Pioneering Product Innovation …
Which drivers are expected to have the greatest impact on the over the biometric sensor market's growth?
The spike in identity theft incidents is predicted to bolster the expansion of the biometric sensor market. Identity theft involves the stolen personal data such as social security numbers, bank account or credit card details. Biometric techniques address all critical aspects of authentication, non-repudiation, confidentiality, and integrity, contributing substantially to curbing and extinguishing identity…
Key Biometric Cards Market Trend for 2025-2034: Revolutionizing Payment Security …
What Is the Future Outlook for the Biometric Cards Market's Size and Growth Rate?
In recent times, the size of the biometric cards market has expanded swiftly. Its growth is anticipated to soar from $13.03 billion in 2024 to reach $15.36 billion in 2025, with a compound annual growth rate (CAGR) of 17.9%. The surging growth during the historical span can be credited to enhanced security requirements, escalating concerns regarding fraud,…
Biometric Workforce Management Market Will Hit Big Revenues In Future | IDEMIA, …
Advance Market Analytics added research publication document on Worldwide Biometric Workforce Management Market breaking major business segments and highlighting wider level geographies to get deep dive analysis on market data. The study is a perfect balance bridging both qualitative and quantitative information of Worldwide Biometric Workforce Management market. The study provides valuable market size data for historical (Volume** & Value) from 2019 to 2022 which is estimated and forecasted till…
Biometric ATM Market Growing Penetration and Adoption of Voice Biometric Solutio …
The global biometric ATM market size is expected to be valued at US$ 1,960.5 million in 2022 and grow at a CAGR of 30.3% over the forecast period. Biometric ATMs are self-service automated teller machines (ATMs), or cash machines, that use a biometric measure to identify customers and allow them to withdraw cash. Biometric authentication may be the only customer identifier used, or it may be used in conjunction with…
