Global Biometric System Market by 2024 | Key Players-Gemalto Cogent, Inc., BIO-key International, Inc., Precise Biometrics AB, secunet Security Networks AG., Thales Group, Cognitec Systems GmbH, Crossmatch, Daon, Facebanx, HID Global Corporation, IRITECH
Major Market Competitors/Players: Global Biometric System Market
Some of the major players operating in the global biometric system market are-Safran, NEC Technologies India Private Limited, FUJITSU, Aware, Inc., Gemalto Cogent, Inc., BIO-key International, Inc., Precise Biometrics AB, secunet Security Networks AG., Thales Group, Cognitec Systems GmbH, Crossmatch., Fulcrum Biometrics, LLC., Daon, Facebanx , HID Global Corporation/ASSA ABLOY AB., SUPREMA., IRITECH, INC., M2SYS Technology and among others.
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The Global Biometric System Market is expected to reach USD 33.5 Billion by 2025, from USD 12.93 Billion in 2017 growing at a CAGR of 17.8% during the forecast period of 2018 to 2025.
This market report defines the market trends and forecast the upcoming opportunities and threats of the biometric system in the next 8 years. Biometrics is the mechanical term for body measurements and calculations which is related to human characteristics. Biometric systems depend on unique identifiers about biological characteristics in order to work efficiently.
Biometric system have various application like fingerprint recognition technology in e-passports, travel and immigration, e-visas. In April 2014, Cross match acquired Digital Persona. Cross Match and Digital Persona both are market leaders in biometric technologies. But due to overlap in collections the company further decided to amalgamate and offer customers a series of portfolio with solutions which is unparalleled in the biometrics industry.
Major Market Drivers:
Increasing usage of biometric technology in financial institutes and healthcare sectors
Growing use of biometric systems in criminal identification
Incorporation of biometrics in smartphones
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Market Segmentation: The global biometric system market is segmented into authentication, component, function, application, and by geography.
Based on authentication, the global biometric system market is classified into single factor authentication and multi-factor authentication. Single factor authentication is segmented into fingerprint recognition, iris recognition, palm print recognition, face recognition, vein recognition, signature recognition, voice recognition and other biometric technologies.
On the basis of component, the global biometric system market is segmented into hardware and software. Hardware is further segmented into fingerprint readers, scanners, camera, and others.
On the basis of function, the global biometric system market is segmented into contact, non-contact, and others.
On the basis of application, the global biometric system market is segmented into government, military & defence, healthcare, banking & finance, consumer electronics, security, travel & immigration and others application. Security is further segmented into home security and commercial security.
Based on geography, the global biometric system market report covers data points for 28 countries across multiple geographies namely north America & south America, Europe, Asia-Pacific And, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Focus of the report:
1. The study provides an in-depth analysis of the Global Biometric System Market and current & future trends to elucidate imminent investment pockets.
2. Changing market dynamics of the industry
3. Strategies of key players and product offerings
4. In-depth market segmentation
5. Recent industry trends and developments
6. Analyze and forecast the Global Biometric System Market on the basis of type, function and application.
Key Insights of the report
1. CAGR values in the market for the forecast period
2. Key trends in the market place
3. Major players and brands
4. Drivers and restrains of the market
5. Historical and current market size and projection up to 2025.
Competitive Analysis: The global biometric system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of biometric system market for global, Europe, North America, Asia pacific and South America.
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