Industry Background:
Biometric Technology is a process of authentication and verification for more convenient and secure. These solutions are used by various government agencies to prevent fraud, solve crimes, securing national borders. Fingerprint scanners are the most trending technology among all types of authentication and followed by face recognition and iris scanners.This growth is primarily driven by Increase demand on Vertical Specialized Biometric Solutions
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | 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 |
The Systems Software sector in the
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 Fujitsu (Japan), Bayometric (United States), 3M (United States), HP (United States), Toshiba (Japan), BehavioSec (United States), Hitachi (Japan), Nuance Communications (United States), Vodafone (United Kingdom) and Voice Security Systems (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In December 2022, PONE Biometrics announced the signing of a Memorandum of Understanding (MoU) with PQShield, a prominent global provider of post-quantum cryptography (PQC) solutions. PQShield is renowned for delivering NIST-approved PQC algorithms to the market. This collaboration aims to integrate PQC algorithms into PONE Biometrics' secure hardware, OFFPAD, ensuring the device's resilience against quantum threats., and In September 2022, Lincoln, the upscale automotive brand under Ford, announced that its upcoming Corsair model will incorporate advanced features such as facial recognition, sensors, and GPS technology. This combination of cutting-edge capabilities will enhance the overall driving experience and provide additional convenience and safety features for Corsair owners.The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies
Influencing Trend:
Mobile Biometric Technology, Multimodal Biometric Authentication Systems and Cloud-Based Biometric Solutions
Market Growth Drivers:
Increase demand on Vertical Specialized Biometric Solutions, High adoption from government agencies and Increasing adoption of the immigration control system from emerging countries
Challenges:
The Rising Number of Data Security Concern
Restraints:
The High Cost of Deployment of Software and Hardware System
Opportunities:
Technology Advancement and High-Security Demand Create Huge Opportunity in Future
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 mainly 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 market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Biometric Technology Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Biometric Technology Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Biometric Technology players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
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
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Biometric Technology Study Sheds Light on
The Biometric Technology Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Biometric Technology industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Biometric Technology 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.