Biometric System Market Is Poised To Achieve Continuing Growth During Forecast Period 2030 | Emergen Research

June 23 02:26 2022
Biometric System Market Is Poised To Achieve Continuing Growth During Forecast Period 2030 | Emergen Research
Emergen Research| Biometric System Market
Biometric System Market Size – USD 38.24 Billion in 2021, Market Growth – at a CAGR of 13.2%, Market Trends – Advancements in technology

The global biometric system market size is expected to reach USD 115.41 Billion at a revenue CAGR of 13.2% in 2030, according to latest analysis by Emergen Research. Market revenue growth of biometric systems can be attributed to rising demand and adoption of contactless biometrics systems in the healthcare industry globally. For instance, on 8 May 2020, NEC Corporation launched NeoFace Thermal Express, which is a dual-faced biometric and fever detection system for access control. The device is capable of detecting elevated body temperatures and Personal Protective Equipment (PPE) equipment such as face masks and others. Moreover, an increase in demand for high-level security in private, commercial, and public sectors is another factor driving the market revenue growth. Demand for facial and voice recognition software in security and surveillance applications has been rising significantly in the recent past owing to increasing terrorist activities and potential risks. This software is commonly used at airports for identification purposes, but deployment has also been increasing at customs and border checks, and even by police to identify and arrest individuals at protests in the very recent past.

Increase in demand for high-level security in private, commercial, and public sectors is a significant factor driving revenue growth of the global biometric system market

Furthermore, there is an increasing demand for a more robust and secure method of operating and accessing credible information and statistical statistics in technology-driven systems that are used across various end-use industries. Hence, rise in implementation of voice matching biometric systems is aiding market revenue growth as there are prominent market players in voice assistance such as Google, Microsoft, and Apple that are investing extensively in R&D of voice matching biometrics. For example, on 23 February 2022, Microsoft launched Windows Hello biometrics for Windows 10 and Windows 11. The biometrics software enables employees to use fingerprints or facial recognition as an alternative method to unlock devices. However, the global biometric system market revenue growth is hampered by enforcement of laws through governmental organizations in various countries.

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The major manufacturers covered in this report:

BIO-key International, NEC Corporation, Secunet Security Networks AG, HID Global Corporation, Fujitsu Limited, Cognitec Systems GmbH, Thales, Precise Group, Aware Inc., Siemens AG, SUPREMA, and IrisGuard Ltd.

Scope of the report:

The study aims to evaluate different segments, their individual development trends, and their contribution towards the growth of the overall industry. Furthermore, the research offers extensive data about the key factors such as the drivers, challenges, restraints and opportunities and their impact on the growth rate. Most importantly, the market intelligence report delivers competitive intelligence data from market evaluation and help companies plan their growth strategies from the consumption volume as well as forecast statistics.

Segments Covered in this report are:

Product Type Outlook (Revenue, USD Billion; 2019-2030)

Hardware

Software

Authentication Type Outlook (Revenue, USD Billion; 2019-2030)

Single-Factor Authentication

Multi-Factor Authentication

Contact Type Outlook (Revenue, USD Billion; 2019-2030)

Contact-based

Non-Contact-based

Hybrid

Biometric Type Outlook (Revenue, USD Billion; 2019-2030)

IRIS Recognition

Hand Geometry

Facial Recognition

Signature Verification

Voice Recognition

Palm Vein

Fingerprint

Automated Fingerprint Identification System

Non-AFIS (Automated Fingerprint Identification System)

Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

BFSI

Government & defense

Aerospace

Automotive

Consumer electronics

Healthcare

Retail & e-commerce

Others

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Regional Outlook (Revenue, USD Billion; 2019–2030)

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Italy

Spain

Sweden

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Israel

Rest of MEA

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Table of Content:

1 Scope of the Report

1.1 Market Introduction

1.2 Research Objectives

1.3 Years Considered

1.4 Market Research Methodology

1.5 Economic Indicators

1.6 Currency Considered

2 Executive Summary

3 Global Biometric System by Players

4 Biometric System by Regions

4.1 Biometric System Market Size by Regions

4.2 Americas Biometric System Market Size Growth

4.3 APAC Biometric System Market Size Growth

4.4 Europe Biometric System Market Size Growth

4.5 Middle East & Africa Biometric System Market Size Growth

5 Americas

6 APAC

7 Europe

8 Middle East & Africa

9 Market Drivers, Challenges and Trends

9.1 Market Drivers and Impact

9.1.1 Growing Demand from Key Regions

9.1.2 Growing Demand from Key Applications and Potential Industries

9.2 Market Challenges and Impact

9.3 Market Trends

10 Global Biometric System Market Forecast

11 Key Players Analysis

12 Research Findings and Conclusion

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