Excellent Growth of Biometrics Market | Top Key Players Profile Analysis by BioLink Solutions, Fujitsu, HID Global, NEC, Digitus Biometrics | future Outlook of 2020-2025

Global Biometrics Market overview:

The growing demand for Biometrics has provided a major boost to the Global Biometrics Market as more people are shifting their preferences to this growing sector. The market is expected to keep rising at a high CAGR and reach values of high millions by the end of the forecast period of 2020 up to 2024.

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The market is mainly driven by the increasing use of biometrics in consumer electronics devices to provide seamless access over different applications, rising number of government initiatives to adopt biometrics, growing need for surveillance and security due to the threats of terrorist attacks, and increasing penetration of biometric technology in automotive and enterprise applications. Biometric systems are increasingly becoming prerequisites for identification and verification purposes by governments across the globe. Additionally, the buoyant growth of the technology stems from its enormous use of e-commerce and cloud computing. The global Biometrics Market is primarily segmented based on Product Type, Application, End-Use Industry and Regions.

Based on Product Type, the market is divided into:

1 Facial Recognition Biometrics

2 Fingerprint Biometrics

3 Voice Biometrics

On the basis of End Use Industry, the market is split into:

1 School

2 Examination Institutions

The introduction of e-passport, voter registration in low literacy economy, ration card registration, and identifying persons of interests has led to its increasing adoption across the government sector. For instance, Aadhar, India's national ID program is one of the largest biometric database in the world enabling government agencies to deliver retail services without cumbersome paper-based mechanisms or physical presence of an officer at a given place. Moreover, in educational and commercial sectors, fingerprints are increasingly being used to maintain employee attendance, time, and work-check, thus leading to its increasing adoption across this industry. Fingerprint technology is also used in cashless vendor machines to identify students and employees.

The growth of the multi-factor authentication segment is attributed to the increasing deployment and the need for security to avoid hacking attacks on sensitive information, especially in government and defense applications. The combination of multiple identifiers adds an extra level of security, making the system more effective, accurate, and reliable. In addition, a multimodal biometric system can reduce the failure to enroll (FTE) and failure to capture (FTC) rates. The rapid development of biometric smart cards for payment and identification purposes is expected to drive the growth of the multi-factor authentication segment.

Objectives of the Study

To describe and forecast the global Biometrics Market on the basis of Product Type, industry verticals, Channel and regions.

To forecast the Biometrics Market size of the five main regional segments, namely North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America.

To strategically analyzesubsegments with respect to individual growth trends, future prospects, and contribution to the total market.

To provide detailed information regarding the major factors influencing the growth of the Biometrics Market (drivers, restraints, opportunities, and challenges).

To analyze the opportunities in the market for stakeholders and to provide details of competitive landscape for major players.

To strategically profile key players and comprehensively analyze their core competencies and positioning.

To track and analyze competitive developments such as mergers and acquisitions, new product developments, and partnerships, agreements & collaborations in the Biometrics Market.

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Some of the Biometrics Market manufacturers involved in the market are BIO-key, BioLink Solutions, Fujitsu, HID Global, NEC, Digitus Biometrics, Iris ID, IriTech, M2SYS, Touchless Biometrics Systems, Acquisitions and effective mergers are some of the strategies adopted by the Biometrics Market manufacturers. New product launches and continuous technological innovations are the Biometrics Market strategies adopted by the major players.

Latest Industry Updates:

Fujitsu today announced an expanded collaboration with Microsoft to further the adoption of Hybrid IT ready infrastructure for digital transformation. The new solution offers Fujitsu PRIMEFLEX users seamless access to their data on Microsoft Azure, boosting seamless working across ecosystems, with synchronized file access beyond system boundaries. The latest development in Fujitsu's Hybrid IT collaboration with Microsoft advances customers' digital transformation, with an emphasis on helping customers leverage their data via Azure File Sync on Azure Stack HCI and ultimately promote infrastructure modernization through advancement of Hybrid IT. Rupert Lehner, Head of Central and Eastern Europe & Products Europe, Fujitsu, said: "In Hybrid IT environments it is not only essential to have consistent and efficient management - easy data access across all systems is crucial too. This enhanced collaboration between Fujitsu and Microsoft provides customers with a one-stop shop PRIMEFLEX solution for seamless access to their data stored on Microsoft Azure - including consulting, implementation and support."

Bernardo Caldas, Partner Director of Program Management at Microsoft Corp. said, "By expanding our successful collaboration with Fujitsu, we are helping more companies across various verticals and of many sizes to achieve their digital transformation goals. Organizations increasingly plan to integrate on-premises data centers with public cloud services, but these solutions are often tailor-made to the individual business. Our work with Fujitsu will provide enhanced performance, cost efficiency and overall increased value for customers."

The expanded collaboration means that PRIMEFLEX for Microsoft Azure Stack HCI users have access to Azure Files shares through Azure File Sync. Azure File Sync provides a bridge between on-premises servers and native SMB shares in the cloud, ensuring all files are synced. To access the service, users need to have an Azure subscription as well as an Azure File Sync agent installed on local servers.

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Asia Pacific was a prominent market for Biometricss in 2016. Among the countries in Asia Pacific, the demand was substantially high in developing countries such as China and India. These countries have been witnessing rapid increase in its population along with expansion of their overall economies, which has led to increase in disposable income. Increased spending on home interiors is fuelling the Biometrics market in Asia Pacific.

There are several manufacturers of Biometricss in Europe and North America. In North America, the demand for Biometricss is primarily driven by the residential sector. Improved standards of living and rising usage of Biometricss for flooring purpose are anticipated to drive the market in North America.

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Table of Contents:

Global Biometrics Market Report 2020

1 Biometrics Definition

2 Global Biometrics Market Major Player Share and Market Overview

3 Major Player Biometrics Business Introduction

4 Global Biometrics Market Segmentation (Region Level)

5 Global Biometrics Market Segmentation (Product Type Level)

6 Global Biometrics Market Segmentation (Industry Level)

7 Global Biometrics Market Segmentation (Channel Level)

8 Biometrics Market Forecast 2020-2024

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