Report Details-
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.
Restraints/Challenges Global Biometric System Market
On the other hand, high costs associated with biometric systems and high risk of transmission of coronavirus posed by touch-based biometric solutions are expected to obstruct market growth. Also, limitations in detecting authorized and unauthorized users and data security concerns are projected to challenge the biometric system market in the forecast period of 2022-2029.
Covid-19 Impact on Biometric System Market
The biometric system market was moderately impacted by the outbreak of COVID-19 due to the increase in the fear of spreading virus through touching the surface of biometric devices, such as scanners and fingerprint, among others. However, an increase in demand for zero surface biometric devices, including vein recognition and iris recognition was witnessed as consumers used these devices for authentication purpose without the fear of contamination, and is expected to accelerate the market growth in the post-pandemic scenario.
Biometric System Market Regional Analysis/Insights
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).
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Competitive Landscape and Biometric System Market Share Analysis
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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Major TOC of the Report
1 INTRODUCTION
2 MARKET SEGMENTATION
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
6 IMPACTS OF COVID-19 ON THE GLOBAL HEMOGLOBIN TESTING MARKET
7 GLOBAL HEMOGLOBIN TESTING MARKET, BY INDUSTRY TYPE
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