Saudi Arabia Biometric Systems Market is anticipated to grow with surging security concerns, in the forecast period, 2023-2027F.
According to TechSci report on, “Saudi Arabia Biometric Systems Market – By Region, Competition Forecast & Opportunities, 2027” Saudi Arabia biometric systems market might register an impressive CAGR during the forecast period, 2023-2027, to establish growth due to factors like surge in the demand for accurate identity based IT solutions and technologically advanced security systems. Growing concerns for the terrorism, theft, and criminal activities incline consumers to install advanced biometric systems to access the locations & infrastructure thereby driving the growth of the Saudi Arabia biometric systems market in the upcoming five years. Demands for the cost-effective security solutions that ensures high-end services and assurance drives the consumers inclination toward market growth. Additionally, biometric systems are highly utilized in both government and private organizations. Institutional access, employee identification, attendance calculation systems are highly in demand from the corporate section, that are well established by the biometric systems and thus supports the growth of the Saudi Arabia biometric systems market in the next five years. Moreover, integration of the biometric systems with the smart phones, laptops, etc. similar appliances also substantiate the growth of the Saudi Arabia biometric systems market in the forecast years through 2027. The systems are also actively implemented over e-passports, personal identification systems, and growing applications in the healthcare and banking also aid the growth of the Saudi Arabia biometric systems market in the future five years.
Government’s investment, favorable schemes like Saudi Vision 2030, plays a vital role in market growth. Strategic deflection of the economy dependency from the oil industry to public sectors like IT, ICT, telecommunication, healthcare, etc. sectors is satisfied through the schemes, and it indirectly influences the growth of the Saudi Arabia biometric systems market in the forecast period.
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The Saudi Arabia biometric systems market is segmented by solution type, functionality type, end use industry, competitional landscape, and regional distribution. Based on solution type, the market is further segmented into fingerprint recognition, facial recognition, iris scanner, hand/palm recognition, voice recognition, vein scanner, and others. Fingerprint recognition is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of easier system installation. Moreover, support of the growing construction industry and increasing multiple installation in single infrastructure to ensure multi-level authentication further substantiates the growth of the Saudi Arabia biometric systems market in the future five years. By functionality type, the market is fragmented into contact based, contact less, and hybrid.
Based on end use industry, the market is bifurcated into government and defense, BFSI, consumer electronics, it and telecom, healthcare and life-sciences, retail and e-commerce, and others. Government and defense are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of growing demands for anti-corruption services. Biometric systems enable the large scale identification of the population entering the offices and accessing the information and data from the government. Moreover, these biometrics is also utilized for the respective entitled government enabling for the identified population in the country for which the government provides certain funds like rations, and necessities for the immigrant, and below poverty line population in the country.
A partial list of major market players of the Saudi Arabia biometric systems market includes
- NEC Corporation
- Thales Group
- BIO-Key International, Inc.
- Assa Abloy AB
- IDEMIA France SAS
- DERMALOG Identification Systems GmbH
- Cognitec Systems, GmbH
- Fujitsu Limited
- IDEX Biometrics ASA
- Next Biometrics ASA
- SecuGen Corporation
- Aware Inc.
- Precise Biometrics
- Fingerprint Cards AB
- M2SYS Technology
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“Technological advancement in the telecommunication and IT industry is a major factor responsible for the growth of the Saudi Arabia biometric systems market in the upcoming five years. Technologies like iris recognition, facial recognition, are rapidly growing popularity among the end use sectors. With security concerns at the high security demanding infrastructures would support the growth of the Saudi Arabia biometric systems market in the forecast years. New market players may invest in the technological advancement and focus on the reduction of high cost of the products and services to establish their brand in the market. The current market is quite competitive and require strategies to evolve the market value in the future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Biometric Systems Market By Solution Type (Fingerprint Recognition, Facial Recognition, Iris Scanner, Hand/Palm Recognition, Voice Recognition, Vein Scanner, Others), By Functionality Type (Contact Based, Contact Less, Hybrid), By End Use Industry (Government and Defense, BFSI, Consumer Electronics, IT and Telecom, Healthcare and Lifesciences, Retail and E-commerce, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Saudi Arabia biometric systems market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia biometric systems market.
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