Biometrics Technologies Market Revenue to Cross US$ 55.4 Billion by 2027: The Insight Partners

According to the new research report published by The Insight Partners, titled "Biometrics Technologies Market - Global Analysis and Forecast to 2027", the is expected to reach US$ 55.4 Billion by 2027, registering a CAGR of 16.2% during the forecast period 2019-2027.

With the increasing trend of digitization across industries, the demand for data security and safety among consumers as well as enterprises is growing at an unprecedented rate. This trend is further augmented by the rising number of smart and mobile devices in both consumer and enterprise market. The demand for enhanced security solutions equipped with new technology tools is rising due to various advantages offered by these solutions over traditional access controls. Owing to all these factors, biometric authentication is gaining traction over other forms of security solutions. Biometric technologies refer to various methods that are used to identify, authenticate, and verify users based on their physical or behavioral characteristics. Due to growing incidents of security breaches, the demand for biometric-based identification solution is rising at a fast pace. Presently, fingerprint and facial recognition are two of most popular biometric applications in the consumer and enterprise segments and other applications such as iris scan are also expected to register high growth in the future digital world. Both private, as well as government organizations, are widely investing in biometrics for a number of applications including attendance, access control, timekeeping, security, and verification, among others. There are countries such as India that are using biometrics such as fingerprint and retina scan as national ID for its citizens.

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative

https://www.theinsightpartners.com/sample/TIPTE100000207/?utm_source=OpenPR&utm_medium=10591

North America was the leading geographic market, and it is anticipated to be the highest revenue contributor throughout the forecast period. In 2018, Asia Pacific held the leadership position in the global biometrics technologies market with more than 30% share of the overall biometrics technologies market. Europe and North America held the second and third position in terms of biometrics technologies revenue.

With the increasing need for security among enterprises, the demand for enhanced identification technologies is growing at an exponential rate. In addition to this, continuous advancements and mass penetration of biometric technologies in consumer devices are two factors driving the growth of biometric technologies market. Biometrics Technologies are widely implemented in industries such as banking and finance, government, healthcare, military & defense, and consumer electronics for both single-factor and multi-factor authentication to provide enhanced security and accuracy. Large-scale government biometrics programs for national IDs & border control applications and employee access monitoring in public and private buildings are boosting the revenue growth of biometrics technologies worldwide.

Have a 15-minute-long discussion with the lead analyst and author of the report in a time slot decided by you. You will be briefed about the contents of the report and queries regarding the scope of the document will be addressed as well -

https://www.theinsightpartners.com/speak-to-analyst/TIPTE100000207/?utm_source=OpenPR&utm_medium=10591

Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Biometrics Technologies Market' provides the analysis on impact on Covid-19 on business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

Geographically, Asia Pacific held the majority revenue share of the biometrics technologies market in the year 2018, and it is expected to continue its dominance during the forecast period of 2019 to 2027. Europe and North America held the second and third position in the global biometrics technologies market in 2018. The other developing regions, such as the Middle East & Africa and South America are also anticipated to offer significant growth opportunities for biometrics technologies market players during the forecast period from 2019 to 2027.

The market for biometrics technologies is segmented on the basis of technology and application. Based on technology, the market is segmented into fingerprint recognition, palm recognition, face recognition, iris recognition, voice recognition, others. On the basis of application, the market is bifurcated among banking and finance, government, healthcare, military & defense, consumer electronics, others.

Geographically, the market is fragmented into five regions, including North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Some of the key players operating in the global biometrics technologies market include Aware, Inc., BIO-key International, Inc., IDEMIA, ImageWare Systems, Inc., Fujitsu Limited, Gemalto NV, Precise Biometrics AB, NEC Corporation, Suprema Inc., and Secunet Security Networks AG among others.

Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods

https://www.theinsightpartners.com/buy/TIPTE100000207/?utm_source=OpenPR&utm_medium=10591

About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

This release was published on openPR.