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Biometrics Market 2023-2032, Key Players, Detailed Analysis And Growth Strategies
Biometrics Global Market
Biometrics Market Size, Growth Rate, And Forecast
The global biometrics market size grew from $32.96 billion in 2022 to $39.37 billion in 2023 at a compound annual growth rate (CAGR) of 19.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biometrics market size is expected to grow to $73.5 billion in 2027 at a CAGR of 16.9%.
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Biometrics Market Drivers
The increasing use of biometric technology in consumer electronics for authentication and identification applications is driving the biometrics market. Biometric sensors are becoming a more common security feature in smartphones and other gadgets, and the low cost of biometric technology allows manufacturers to incorporate them into a larger range of goods. Consumer electronic devices such as access door locks, security devices, home automation, IoT, cars, game consoles, and mobile devices are increasingly utilizing biometric technology to enhance the security of the devices.
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Biometrics Market Segments
1) By Biometric Type: IRIS Recognition, Hand Geometry, Facial Recognition, Signature Verification, Fingerprint, Voice Recognition, Palm Vein
2) By Functionality: Contact, Non-contact, Combined
3) By End-User: Government, Defense Services, Banking and Finance, Consumer Electronics, Healthcare, Commercial Safety and Security, Transport/Visa/Logistics, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Biometrics market.
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Biometrics Market Key Players
Major competitors in the Biometrics market include Leidos Holdings Inc., NEC Corporation, Fujitsu Limited, Aware Inc., Nuance Communications Inc., IDEMIA, Cognitec Systems, Assa Abloy
The Table Of Content For The Biometrics Market Include:
1. Executive Summary
2. Biometrics Market Characteristics
3. Biometrics Market Trends And Strategies
4. Biometrics Market - Macro Economic Scenario
5. Biometrics Market Size And Growth
……
27. Biometrics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biometrics Market
29. Biometrics Market Future Outlook and Potential Analysis
30. Appendix
The Business Research Company's "Global Biometrics Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
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