The Biometric Technology Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study. This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the biometric technology market include 3M, Imageware system Inc., Fujitsu Frontech Limited, Suprema Inc., and Safaran SA. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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Market Dynamics
The global biometric technology market is growing at a rapid pace due to rising security challenges. Today, fingerprint and face recognition is highly used for verifying one's identity. Biometrics was initially used for crime investigation purpose but now its application has evolved across sectors due to its potential to make authentication dramatically faster, easier and more secure than traditional passwords. Its basic application was known for authentication. Biometrics for secure access control also becomes prevalent and has extended to online banking and payment sector. The public sector is another focused area for biometrics applications. It ranges from the paperless process for digital identity, visa application, to border control, to public security monitoring. another emerging use is in portable digital technology: smartphone, tablet, also social network tag. The market is dominated by the fingerprint segment. The increasing ubiquity of high-quality cameras, microphones and fingerprint readers in many of smartphone devices is driving the growth of the segment.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of biometric technology.
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Market Segmentation
The entire biometric technology market has been sub-categorized into type and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Type
· Face Recognition
· Iris Recognition
· Fingerprint Recognition
· Hand Geometry Recognition
· Signature Recognition
· Voice Recognition
· Middleware Recognition
By End User
· Public Sector
· Banking & Financial Sector
· Healthcare
· IT & Telecommunication
· Others
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for biometric technology market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
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The use of biometrics across various industries is majorly due to a higher demand of enhanced safety and security of the personnel.
Among the changing paradigm of the consumer as well as enterprise market, a significantly higher demand of biometrics from the consumer goods segment such as from smartphones, laptops, and tablets is majorly impacting the growth of the biometric industry.
Another factor driving the growth of this market is the use of biometric in anti-money laundering coupled with an increased use of biometrics in the era of blockchain.
In 2018, the government sector is estimated to be the largest market with banking and financial institutions following the lead in the global biometric authentication and identification market.
The ever-increasing demand for securing the identity of any individual and identifying the individual for any crimes has led to a surge in demand of biometrics in government application.
Another growing application sector is the banking and financial institutions which is increasingly using the biometric systems for the user identification.
