Biometrics System Market Scope
Biometrics system is the measurement and statistical analysis of people's unique physical and behavioral characteristics. The technology is mainly used for identification and access control, or for identifying individuals who are under surveillance. Adoption of biometrics systems has grown exponentially over the last few years. Biometrics have been proved to be a faster, more efficient, and secure method as compared to traditional identification practices like ID cards, access cards, PINs and password.
According to AMA, the Global Biometrics System market is expected to see growth rate of 18.8% and may see market size of USD36.48 Billion by 2026.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Biometrics System market throughout the predicted period.
Safran (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), NEC Corporation (Japan), Digitalpersona Inc. (United States) and Daon Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Precise Biometrics AB (Sweden), Biokey International Inc. (United States), Cognitec Systems Gmbh (Germany), IDEMIA (France) and Thales (France).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Biometrics System market by Type (Fixed and Mobile), by Application (Healthcare, Government, Military and Defense, Consumer Electronics and Commercial and Home security) and Region with country level break-up.
On the basis of geography, the market of Biometrics System 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 Leaders and their expansionary development strategies
In March 2018, IDEMIA signed a contract with the Australian Department of Home Affairs with visa, border crossing, and citizenship applications. The company provided biometric matching engine MorphoBSS to EBIS. and 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).
Market Trend
- Introduction of Multiple Biometric Authentication Systems for Human Identification
Market Drivers
- Demand for Homeland Security ACross the World
- Rising Concerns Regarding Internal and External Securities in Various Sectors Including Banking, Military & Defense
Opportunities
- Product Enhancement and Surging Investmnet in Security Technological Products will Boost the Biometrics System Market
Restraints
- Limitations Regarding Data Accuracy, Security of the Data, and High price of Implementation
Challenges
- Stiff Competition in the Biometrics System Market
Key Target Audience
Biometric System Manufacturers, Biometric System Industry Association, Sensor Manufacturers, Biometric Hardware and Software Developers, Regulatory Bodies, Research and Development Institutes and Others