Vancouver, BC -- (SBWIRE) -- 02/02/2021 -- Biometrics is a technology that is used to measure and identify the behavioral and physical characteristics of people. This is field integrates computer science with biology. The calculations are made after the identification of the people under surveillance. This procedure is done for various purposes, although mainly to provide people access to different technological devices. From fingerprint lock to face identification lock systems, the industry is providing new technological advancements in the field. During the forecast period, by 2027, the global biometrics market is expected to reach USD 68.6 billion, registering a CAGR of 13.4%.

The global market landscape of Biometrics is expected to remain in a very competitive and highly fragmented landscape consisting of a number of both the small start-ups, medium enterprises, and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for the innovative players.

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Key players in the market Baxter International, Nipro, B. Braun Melsungen, DaVita Healthcare Partners, Covidien, Dialysis Clinic, Fresenius Medical Care, Diversified Specialty Institute Holdings, Medical Components, Huaren Pharmaceutical, NephroPlus, Northwest Kidney Centers, Satellite Healthcare, NxStage Medical, Renal Services, Sandor, Sichuan Kelun Pharmaceutical, and U.S. Renal Care, among others.

Technology Outlook (Revenue: USD Billion; 2017-2027)
Facial Recognition
Fingerprint Recognition
Voice Recognition
Palm Recognition
Iris Recognition
Others

Industry Vertical Outlook (Revenue: USD Billion; 2017-2027)
Government and Defense
Healthcare and Life Sciences
Law Enforcement
Human Resources
Retail and E-commerce
IT and Telecommunication
Banking, Financial services, and Insurance (BFSI)
Others

Applications Outlook (Revenue: USD Billion; 2017-2027)
Site Access Control
Time Recording
Mobile Application
Web and Workplace
Others

Component Outlook (Revenue: USD Billion; 2017-2027)
Hardware
Software

System Type Outlook (Revenue: USD Billion; 2017-2027)
Unimodal Biometric Systems
Multimodal Biometric Systems

Biometrics Market: Market Drivers

In 2020, the market was valued at USD 36.6 billion. Owing to the rising concerns of privacy, the biometrics market is increasing robustly throughout the world. More consumers want to have better biometrics services in their electronic devices. The other major contributing factor is the growing demand for better surveillance facilities in various departments. As compared to the old and traditional security systems, biometrics are faster and more convenient. Issues like documentation frauds, identity thefts, and other cybercrimes, can be handled with the use of biometrics.

Biometrics Market: Regional Landscape

The global biometrics market is highly competitive. The Asia Pacific region is expected to exhibit lucrative growth during the forecast period and one of the major contributing factors is rapid industrialization. The number of fresh entrants has increased in the global market due to the high demand of the biometrics. 

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Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2019-2027

Chapter 3. Key Insights

Chapter 4. Biometrics Market Segmentation & Impact Analysis

    4.1. Biometrics Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                    4.2.2.1. Growing incidences of security breaches

                    4.2.2.2. Extensive proliferation of smartphone industry

                    4.2.2.3. Huge growth in the IoT devices & biometric implementation in them

          4.2.3. Market restraints analysis

                    4.2.3.1. Rising cases of identity data losses

                    4.2.3.2. Inefficient research methodologies

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter's Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Chapter 5. Biometrics Market By Technology Insights & Trends, Revenue (USD Billion)

    5.1. Technology Dynamics & Market Share, 2019 & 2027

          5.1.1. Facial Recognition

          5.1.2. Fingerprint Recognition

          5.1.3. Voice Recognition

          5.1.4. Palm Recognition

          5.1.5. Iris Recognition

          5.1.6. Others

Continue…!

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