Industry Background:
AI has the potential to significantly affect how firms reach, identify, attract, and select human capital. We examine factors that can influence a job candidate's intent to complete AI-enabled recruiting processes, especially the influence of a firm's use of biometrics in that process. Global concern over the spreading of COVID-19 on surfaces in public places is unleashing the rapid development of innovative biometric products that help to assist a touchless society. Biometric solutions are typically used for security and access control across businesses and government organizations. The U.S. government has taken a keen interest in biometric applications and has been aggressively funding advanced research programs in businesses that offer biometrics.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Thales Group (France), Safran (France), NEC (Japan), Fujitsu (Japan), M2SYS Technology, Inc. (United States), Assa Abloy AB (Sweden), Aware, Inc. (United States), FacePhi (Spain), IDEMIA (France) and Ayonix Corporation (Japan) |
This growth is primarily driven by Increasing Adoption of AI-enabled Biometrics for Preventing Security Threat and The adoption of AI-enabled biometrics is increasing as this improve every aspect of the identity lifecycle.
Globally, a noticeable market trend is evident AI-enabled biometrics has the ability to flexibly respond to emerging fraudulent activities and it also reduces the cost of identity verification and authentication The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Thales Group (France), Safran (France), NEC (Japan), Fujitsu (Japan), M2SYS Technology, Inc. (United States), Assa Abloy AB (Sweden), Aware, Inc. (United States), FacePhi (Spain), IDEMIA (France) and Ayonix Corporation (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Continuous R&D to offer product differentiation is expected to be the key success factor for the market participants. Some vendors are also focusing on collaboration and acquisitions to enhance their product offerings thereby helping them to gain a competitive edge.
Key Developments in the Market:
On 29th October 2020, Thales, the world leader in digital security, has launched its Identity Verification Suite, in response to the rising need for remote client onboarding. With privacy and user experience at its heart, the IDV Suite enables a secure and 100%-AI identity verification service.
Influencing Trend:
AI-enabled biometrics has the ability to flexibly respond to emerging fraudulent activities and it also reduces the cost of identity verification and authentication
Market Growth Drivers:
Increasing Adoption of AI-enabled Biometrics for Preventing Security Threat and The adoption of AI-enabled biometrics is increasing as this improve every aspect of the identity lifecycle
Restraints:
The technological complexities associated with the authentication rocess
Opportunities:
Technological advancement associated with AI-enabled Biometrics and The increasing awareness regarding the use of AI-enabled biometrics systems for security purposes.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in AI-enabled Biometrics Market
- Analysis about New Entrants in AI-enabled Biometrics Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, AI-enabled Biometrics Study Sheds Light on
The AI-enabled Biometrics Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the AI-enabled Biometrics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where AI-enabled Biometrics industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.