What is Biometrics Technology Market Scope?
Biometrics technology is the science of analyzing body characteristics. Divided into two basic classes, biometry technology collect information from physical or activity attributes associated with the body. The technology is especially used for identification and access management, or for distinctive people United Nations agency area unit below police work. Adoption of biometry systems has grown up exponentially over the previous few years. Companies and government agencies are increasingly using biometrics systems in a variety of applications including identification, personalized experiences or surveillance
Market Growth Drivers:
Increasing Applications within the Finance Industry, Rising Security Concerns, Increasing Adoption of Homeland Security and High Refugee Influx and Surging Concerns Regarding Internal and External Securities in Various Sectors including Banking, Military & Defense and Others
Challenges:
High Price of Technological Advanced Products and Threats from product substitutes and low return on investments
Restraints:
Limitations Regarding Data Accuracy, Security of the Data, and High Price of Implementation
Opportunities:
Top Players are Continuous Focusing on Product Enhancement
The Biometrics Technology market study is being classified by Type (Face Recognition, Fingerprint Recognition, Iris Recognition, Palm Print/Hand Recognition and Hand Geometry Recognition), by Application and major geographies with country level break-up.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Biometrics Technology market throughout the predicted period.
Safran SA (France), Fujitsu Ltd. (Japan), 3M Cogent Inc. (United States), Fulcrum Biometrics (United States), Idteck (South Korea), Iris Guard Inc. (United Kingdom ), Cross Match Technologies (United States), lumidigm Inc. (United States), Accu-time Systems Inc. (United States) and NEC Corporation (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Digitalpersona Inc. (United States), Daon Inc. (United States), Suprema Inc. (South Korea), Bio-Key International Inc. (United States) and Precise Biometrics AB (Sweden).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Biometrics Technology market by Type, Application and Region.
On the basis of geography, the market of Biometrics Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In March 2018, Thales acquired Gemalto, a key player in digital security, Under this agreement, Thales combined its digital assets with Gemalto and increased the R&D investments in the digital security businesses
In April 2018, Safran-owned IDEMIA launched MorphoWave compact with touchless 3D fingerprint technology and frictionless biometric access. The device is 86% smaller than MorphoWave Tower. It can be deployed at large manufacturing sites, universities, banks, and financial institutions and April 2018, The iris recognition technology of NEC was recognized as the highest matching accuracy evaluation procedure by the US National Institute of Standards and Technology (NIST)
Key Target Audience
Biometric system manufacturers, Sensor manufacturers, Biometric hardware and software manufacturers and Biometric technology-enabled product manufacturers
Biometrics Technology Market Study: Important Years
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Biometrics Technology Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Biometrics Technology industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.