Global Biometric System Market, By Component (Hardware and Software), Authentication Type (Single Factor Authentication and Multifactor Authentication), Type (Contact-based, Contactless, Hybrid), Vertical (Government, Military and Defense, Healthcare, Banking and Finance, Consumer Electronics, Security, Travel and Immigration, Automotive, Others Verticals) – Industry Trends and Forecast to 2029.
Global Biometric System Market Analysis and Size
Biometric security systems are highly being deployed globally as automated security techniques. The human intervention is reduced to the minimum for recognizing and confirming an individual's identity based on distinctive behavioral features or physiological features.
- The rise in demand for security and surveillance solutions is escalating the growth of biometric system market. The biometric system market was valued at USD 36.14 billion in 2021 and is expected to reach USD 119.42 billion by 2029, registering a CAGR of 15.75% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Global Biometric System Market Definition
Biometrics is defined as the processes that are utilized recognize, identify and authenticate people based on their physical or behavioural features. These systems assist in matching an individual’s identifiers to their biometric template that is already stored in the database. The technology confirms whether the individuals hold a resemblance to their claimed identity, and thus used to control access to rooms, buildings, and computers.
Competitive Landscape and Biometric System Market Share Analysis
The biometric system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biometric system market.
Some of the major players operating in the biometric system market are
- Safran (France)
- NEC Technologies India Private Limited (India)
- FUJITSU (Japan)
- Aware, Inc. (US)
- Gemalto Cogent, Inc. (US)
- BIO-key International, Inc. (US)
- Precise Biometrics AB (Sweden)
- secunet Security Networks AG. (Germany)
- Thales Group (France)
- Cognitec Systems GmbH (Germany)
- Crossmatch. (US)
- Fulcrum Biometrics, LLC. (US)
- Daon (Ireland)
- Facebanx (US)
- HID Global Corporation/ASSA ABLOY AB. (US)
- SUPREMA. (South Korea)
- IRITECH, INC. (US)
- M2SYS Technology (US)
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Biometric System Market Regional Analysis/Insights
The biometric system market is analysed and market size insights and trends are provided by country, component, authentication type, type and application as referenced above.
The countries covered in the biometric system market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
North America dominates the biometric system market because of the high implementation of biometrics technology by security and government agencies within the region.
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Major TOC of the Report
- MARKET SEGMENTATION
- MARKET OVERVIEW
- EXECUTIVE SUMMARY
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