The global Biometrics Technology market size was valued at USD 38.23 Billion in 2023 and the Biometrics Technology Market revenue is expected to reach USD 119.42 Billion by 2030, at a CAGR of 17.67 % over the forecast period.
Market Overview:
This study aims to provide a comprehensive analysis of the Biometrics Technology market, examining its components, applications, industries, and geographical aspects. It delves into the primary drivers influencing market growth and offers an in-depth analysis of the market’s value chain.
Market Scope:
The research methodology employed for assessing and predicting the Biometrics Technology market involves secondary research utilizing revenue data from key suppliers. Market segmentation takes into account vendor offerings, and the overall market size is determined using a bottom-up approach based on the revenue of major enterprises.
Drivers:
In an era marked by escalating cybersecurity threats and identity fraud, organizations are prioritizing robust security measures to safeguard sensitive information and assets. Biometric technologies offer a highly secure method of authentication, mitigating the risks associated with stolen passwords or identity theft. The escalating security concerns are driving the adoption of biometrics across various sectors, including government, finance, healthcare, and enterprise, which is expected to boost the Biometrics Technology Market growth.
Segmentation:
by Type
Physiological Biometrics
Face Recognition
Iris Recognition
Fingerprint Recognition
Hand Geometry
Others
Behavioral Biometrics
Signature Recognition
Voice Recognition
Others
by End User
Public Sector
BFSI
Healthcare
IT and Telecommunication
Others
Key Players:
The major players identified in the Biometrics Technology market report include:
North America:
1. IDEMIA – Reston, Virginia, USA
2. Aware, Inc. – Bedford, Massachusetts, USA
3. HID Global – Austin, Texas, USA
4. Nuance Communications – Burlington, Massachusetts, USA
5. BIO-key International – Wall, New Jersey, USA
6. NEC Corporation of America – Irving, Texas, USA
7. L-1 Identity Solutions (now part of Idemia) – Stamford, Connecticut, USA
8. Veridium – Quincy, Massachusetts, USA
9. IDEX Biometrics – Wilmington, Delaware, USA
10. Daon – Reston, Virginia, USA
Europe:
11. Thales Group – Paris, France
12. SAGEM (part of Idemia) – Paris, France
13. Fingerprint Cards AB – Gothenburg, Sweden
14. Precise Biometrics – Lund, Sweden
15. BioConnect – Toronto, Ontario, Canada
16. Vision-Box – Lisbon, Portugal
Asia-Pacific:
17. NEC Corporation – Minato, Tokyo, Japan
18. Suprema Inc. – Seoul, South Korea
19. ZKTeco – Dongguan, Guangdong, China
Regional Analysis:
Market share statistics for Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America are provided individually. Analysts evaluate competitive strengths and conduct a thorough competitive analysis for each player.
COVID-19 Impact Analysis on Biometrics Technology Market:
Various industries such as aerospace, defense, agriculture, automobiles, retail, e-commerce, energy, healthcare, packaging, mining, electronics, banking, financial services, and insurance have been impacted by the COVID-19 pandemic. The report assesses the general impact of COVID-19 on the Biometrics Technology market, including its growth rate during 2019-2020. Insights and analysis on risk management and digital transformation strategies are provided to assist businesses navigating through the crisis.
Key Questions Answered in the Report:
- Which segment dominated the Biometrics Technology market?
- What was the competitive landscape of the Biometrics Technology market in 2020?
- What are the key drivers fueling the growth of the Biometrics Technology market?
- Which region held the largest share in the Biometrics Technology market in 2020?
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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