Next Generation Biometric Market Poised for Rapid Growth with 18.02% CAGR, Projected to Reach USD 145.81 Billion by 2030

Next Generation Biometric Market size was valued at USD 45.72 Bn in 2023 and is expected to reach USD 145.81 Bn by 2030, at a CAGR of 18.02 %.

28 June 2024: A global Electronics business consulting firm, Maximize Market Research, has published market intelligence and competitive landscape report on the Next Generation Biometric Market. The report is a combination of primary data and secondary data and field experts have examined the Next Generation Biometric Market from a local, regional and global point of view. Over the forecast period, Maximize Market Research expects the Next Generation Biometric to grow from USD 45.72 Bn in 2023 and is expected to reach USD 145.81 Bn by 2030, at a CAGR of 18.02 per cent.

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Next Generation Biometric Market Scope:

Market Size in 2023 USD 45.72 Bn.
Market Size in 2030 USD 145.81 Bn.
CAGR 18.02 % (2024-2030)
Forecast Period 2024-2030
Base Year 2023
Number of Pages 260
No. of Tables 122
No. of Charts and Figures 120

Segment Covered by Type, Technology, Component and Application

Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage Market Share, Size & Forecast by Revenue | 2024-2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

Next Generation Biometric Market Report Scope and Research Methodology:

Next Generation Biometric Market report includes the exploration of advanced biometric technologies beyond traditional methods. It covers innovations like facial recognition, iris scanning, and vein pattern recognition, integrated with AI and IoT for enhanced accuracy and security. The report assesses their applications across industries such as finance, healthcare, and smart cities, focusing on their impact on security, convenience, and operational efficiency. The methodology combines primary data from expert interviews and secondary data from market reports. The analysis employs both quantitative and qualitative methods to understand market size, trends, and competition. Statistical models forecast future trends, considering technological advancements and regulatory impacts, providing a thorough overview of the market dynamics and growth potential.

Next Generation Biometric Market Dynamics:

The progressions in artificial intelligence (AI) and machine learning (ML) are significant drivers for the Next Generation Biometric Market. These technologies improve the accuracy, speed, and reliability of biometric systems, allowing more sophisticated and secure authentication methods. The growing population, increasing social benefits from government-sponsored programs, and increasing zero-trust mindset of the people are the factors driving the growth of the next-generation biometric market.

Next Generation Biometric Market Regional Insight:

Asia-Pacific held the largest Next Generation Biometric market share in 2023. Economic growth in developing countries, increased attraction towards tourism and increased usage of IoT devices are the factors driving the growth of the market in this region. North America is the second dominating region in the Next Generation Biometric Market. The presence of major key players, increasing investment in biometric technology, and increasing data breaches are the factors attributing to the growth of the market.

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Next Generation Biometric Market Segmentation:

by Type

• Palm Print Recognition
• Face Recognition
• Fingerprint Recognition
• IRIS Recognition
• Others

by Technology

• Contact based
• Contactless
• Hybrid

by Component

• Hardware
• Software

by Application

• Aerospace and Defence
• BFSI
• Healthcare
• Government
• Others

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Leading Next Generation Biometric Market key industry:

1. Safran SA (France)
2. NEC Corporation (Japan)
3. 3M Cogent Inc. (USA)
4. Fujitsu Ltd. (Japan)
5. Suprema Inc. (South Korea)
6. Cross Match Technologies (USA)
7. Fulcrum Biometrics (USA)
8. Thales SA (France)
9. Bio-Key International Inc. (USA)

To Get More: https://www.maximizemarketresearch.com/market-report/global-next-generation-biometric-market/30169/

Key questions answered in the Next Generation Biometric Market are:

• What is Next Generation Biometric?
• What was the Next Generation Biometric Market size in 2023?
• What is the growth rate of the Next Generation Biometric Market?
• Which are the factors expected to drive the Next Generation Biometric Market growth?
• What are the different segments of the Next Generation Biometric Market?
• Who are the key players in the Global Next Generation Biometric Market?
• What are the upcoming industry applications and trends for the Next Generation Biometric Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by Different Segment | 2024-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - A detailed analysis of the Offerings, Vertical, Application and Region
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
o Competitive landscape - Market Leaders, Market Followers, Regional player
o Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Recommendations

Maximize Market Research is leading Electronics research firm, has also published the following reports:

• Secure Digital Card Market size was valued at USD 9.5 Bn. in 2022 and the total Secure Digital Card revenue is expected to grow by 5.7% from 2022 to 2029, reaching nearly USD 13.9 Bn.

• Embedded Hypervisor Market size was valued at USD 11.4 Billion in 2023 and the total Embedded Hypervisor Market revenue is expected to grow at a CAGR of 6.8% from 2024 to 2030, reaching nearly USD 18.07 Billion.

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2
Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 96071 95908, +91 9607365656

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.